Real Estate Investors Resource
Today's market has brought many opportunities to Real Estate investors. With foreclosures at the highest in decades and the options many, the decision is where and what homes should I be buying. Berks County is no stranger to Foreclosures but the abundance makes deciding which ones a little harder. Picking the right house can no longer be just about money, profit levels and overall condition. So many neighborhoods that once thrived in the market are now sitting idle for over 140 days. Sure there are homes selling, in today's market, but most are competing with foreclosures. Sellers are dropping prices to compete and therefore lowering home values.
Deciding where to buy is as important as what to buy and at what price. Pricing a home, to sell in today's market, can be a tough decision. You really need to study your market, know your market, and be able to predict how the current economy will affect it, in the months ahead.
Being able to predict where the economy is going to take us is no easy task. This takes reviewing sales trends, listing trends, government interaction, current banking rates, and so much more. Predicting where we are heading is a tough task even for a professional Real Estate Agent. There are just too many variables to account for. The housing market is just too fragile to comprehend all the information thrown at us on a daily basis.
Most investors will use a Realtor to guide them to the right purchase and most even have them calling every few days with hot deals and new foreclosure lists. How is your Agent helping you? They should be watching and studying the market to find you the best deal available. A great Realtor should be a sounding board for your thoughts, ideas and overall your greatest asset in today's market.
Questions to consider when working with a Realtor
•1- How many offers can I expect an agent to be able to handle?
•2- Do they really know the market I buy homes in?
•3- Will they have my best interests in mind?
•4- How fast can they list and sell a home?
•5- Do they have a proven track record?
•6- Can I work with more than 1 agent?
•7- Do I really need to use a Realtor?
•8- If I flip 12-20 homes a year can I find an agent exclusive to my business?
•9- Do they also invest in Real Estate?
These are just some of the questions you should be able to easily answer. Trust me there are plenty more. Let me explain a few of the above questions.
•1- An experienced Agent should be able to handle as many offers as you can throw at them. They should have a team in place to handle anything you require and at any time of the day!
•2- Your Realtor must be on top of his neighborhood. They will be able to answer all your questions about a certain area without hesitation. A local professional Agent will make your life much easier.
•3- A Professional Realtor will always have your best interest in mind always! They are here to work for you no matter what. The right Realtor is priceless and having the wrong Agent could be devastating to your business.
•4- Listing homes is easy, selling homes for top dollar and fast is by far not. A seasoned Realtor dedicated to your business will guide you to market it a the best price, generate the most amount of potential buyers and sell it in the shortest amount of time. Just putting a sign in the front yard will not sell homes in today's market!
•5- Any Realtor should be able to offer you a detailed summary of homes they sold, for what price and how long it was on the market. If they do not offer this to you then by all means find another.
•6- You may work with as many agents as you wish, on separate offers and homes, but consider keeping everything a simple as possible. The old saying " too many hands in the hen house" could end up to be true when trying to keep track of who is going to do what.
•7- More often I see homes for sale by owner than ever before in my career. There is nothing wrong with selling your home yourself, just bear in mind that by listing it with a Proven Realtor, you should have the best return on your dollar. I say this because Realtors will open your home up to more potential buyers by being placed on the MLS. Not only will the MLS increase your buyers most agents will place your listing on the best tool in the market, the internet. With 85% of all buyers searching the internet based MLS sites like Realtor.com , Trulia, Zillow and FrontDoor you really want to put it out there.
•8- Finding an exclusive, to you, Agent can be a little difficult. Most Agents involved with investors usually work with multiple Investors.
•9- There are many Realtor's out there that are also investors. Who said you can't have your cake and eat it too? Keep in mind if the deal is not good enough for them, it's not also not a good deal for you. Most Investing Agents can spot a solid deal, produce you with correct financials, and guide you through the purchase effortlessly.
There are many more foreclosures entering the market as we speak and also for many months ahead. If you're just entering the investing market, I wish you a very prosperous journey.
If you are just starting investing or want to begin a lucrative career are a Real Estate Investor and need information on how to get started in your market, contact me at my office at 610-373-8701, call me direct at 484-955-6937 or email any questions your may have at BerksRealtor@yahoo.com .
Berks County Specialist
Exit Diamond Realty