Buying it Right!
The reason I am writing this entry in my blog is due to the fact that over the past couple of weeks, I have been asked to look at properties where people are moving relatively shortly after they purchased it. None of us can predict the future.
However, we should really try to define what are our plans with a particular property might be, and how long we may be in the property.
By defining why we need to purchase and for how long we need to stay, we can make better decisions for the acquisition of real estate.
In the Greater Boston Real Estate market, we have seen double digit appreciation for 5 years. The minute the market starts to cool everyone panics and thinks that the sky is falling. Being on the front line everyday and in the trenches with both home buyers and home sellers, I can assure you that the sky is not falling.
There are deals to be had. I am closing on several properties in the next couple of weeks. You need to take your search seriously. Would you do knee surgery on your own? Why would you make a run at buying property without help?
I feel the need to write on this just to convey that if you are thinking about purchasing a property you need a Realtor. I am not writing this to solicit your business. I really have more than enough work on my plate at all times. The reason I am writing is becuase over the past couple of weeks, several potential clients have called me up to give them a value of their property. After touring the property, and conducting a thorough market analysis of the property, I came to the conclusion that these folks overpaid for the property to begin with.
In most instances, the folks did not use a Realtor (serving as a buyers agent) to acquire the property. This was the first mistake the client made. In 90+% of the time, a property owner when hiring a real estate agent to market their property agrees to pay a buyer's agent a fee to represent the buyer in the acquistion of their property. The listing broker, the agent hired to market the property, and the property come to a negotiated comission of say around 6%. Typically, the agent hired to market the property will solicit the expertise agents working on behalf of buyers to consummate a real estate transaction. In a typical arrangement, half of the fee the seller is paying to market the property will be paid to another agent for procurring a buyer. In summary, you can hire a real estate agent to conduct your due diligence, offer expert opinions and advice, and to provide you with timely market data. The million dollar questions is usually posed right about NOW! "How much is this going to cost me?" The millionaire dollar answer is probably nothing. As I have illustrated, the seller is already paying the comission no matter what.
Why would you not enlist the service of someone who examines real estate daily to be on your side during the transaction.
Now that you know, you can have a person who may sell 30+ properties a year. Again, this is typically paid for by the seller no matter what. Why not get help?
If you don't call me, please call a Realtor for professional representation.
Favorite links of mine for you to check out:
Dorchester Real Estate - visit www.02124.com
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