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Five Steps For A Succesful Transaction

By
Real Estate Agent with Star State Homes Realty TX Lic# 0519122

Today's real estate is not "your father's real estate", to reference a Cadillac commercial. Collaborating with the right firm and associates (Why RE/MAX), as well as hiring the right agent is critical.

The first step is to listen to the professionals and not the media. All markets are different as well as the neighborhoods within those markets vary, sometimes slightly and sometimes wildly. The media, local and national, do their best to report markets and market trends. Just keep in mind that they are "professional reports" not professional "Realtors®" or "Real Estate Sales" people.

While "Realtors®" and "Sales People", essentially do the same thing; Realtors® are members of the "National Association Of Realtors®" and are held to a higher standard. Think of it like being a surgeon whom is also a member of the board of cosmetic surgeons. If you needed a nose job, which would you hire?

My point is; First hire a Realtor®. Second, be sure that your Realtor® provides you with the knowledge you need to make sound buying or selling decisions; Has the tools and education needed to accomplish your goals.

Third, be sure they can provide you with a clear picture on how to price/recommend a price. Regardless if you are buying or selling, getting the best price will no doubt be at the top of your list. Pulling a few "comps" just doesn't cut it any more. Knowing market trends, absorption rates, location and property condition are a few of these factors.

Forth, be prepared to make it clear to your Realtor® what the end result (the desired picture) will look like for you. Be sure you are heard and that your' Realtor® keeps this in mind throughout the transaction. Remember this is a partnership, a "relationship" if you will. Your Realtor® is your advocate in this process so keep in mind while it is important he/she hears you; You must be prepared to hear them as well. Sometimes hearing the truth is uncomfortable however, if they truly have your best interest at heart; Not only "should' they tell you, it is there "duty" to tell you.

Fifth, be patient. For the most part this is the largest financial decision you will make in your lifetime. Sellers want the most money they can get for their property and buyers want to pay the least. The one factor that seems to get lost in the transaction is the end result. Going back to number three, what is your goal? What does the end picture look like to you? If all parties will keep this one thing in mind, the transaction will not only be successful but also be a lot less stressful.

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Comments (1)

Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

Good information Eric. There is a lot consumers can do on their own, but facts and figures don't always tell the whole story about homes, neighborhoods and builders. For that you need some local and experienced.

May 22, 2011 07:58 AM