If you are considering purchasing real estate in today's shifting...

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708

If you are considering purchasing real estate in today's  ‘shifting  real estate market’ these are ‘must do activities’  if  you are the buyer.

When I represent buyers, I offer them these nine steps, before they even ask me. It is a great recipe to follow:

  1.         Be intimately familiar with the real estate market where you are searching for. Some buyers ask how could I be intimately familiar, when the various platforms do not focus for a specific area. Well, the answer is easy build a relationship with a local Realtor and the agent can set you up with real time market activity in the property parameters and price range you are searching for. Ask the Realtor to set up, just listed, just reduced to the price range, just went into Escrow, just came back on the market. If you get the real time activity for your search parameters, you will be equally familiar as your Realtor how the market is moving. Real Time data is crucial in any market but when it comes to a shifting market more so.

www.endrebarath.com

  1.         Work with a Realtor who is brutally honest and tells you how it is, rather than the ones sugar coat the information. I know this sounds like a tough request. The reality is you will appreciate it in the long run.

www.endrebarath.com

 

  1.          Ask the Realtor to check the history of the property that you are interested in, for nothing more than an understanding of how long the sellers had the home. It does not matter what they paid for it. Have your agent do a market analysis before you are ready to make an offer.

 

  1.          Now I know I should not even mention this, but you should be preapproved and have the letter handy in case you see a property you want to write an offer on the same day. As interest rates are climbing it is also a good idea to lock in your loan interest rate if you are ready to buy soon.

 

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  1.         Also have your Proof of Funds ready as well.

 

  1.         Have your agent find out from the listing agent, where the sellers are moving to? How much time will they need? Needless to say, often for sellers it is not always about the money, often they need time to get out of their home. After all, they lived there a long time not every one can just quickly pack up.

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  1.        Fill out as many of the disclosure forms and submit it with your offer, with proof of funds and the Preapproval Letter from your Lender. This makes it a stronger offer. Listing Agents can tell their sellers, that these buyers are serious and small thing like that can make a difference.
  2.         Most importantly once you did the comparable analysis, put on your seller’s hat and what do you think would be a fair offer. Generally, if you do that it will be a Win-Win.

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  1.        Do not go underground once the negotiations start, think of playing tennis or any paddle ball type games. It is best to go back and forth with the negotiations. Keeping egos in check and focusing on the negotiations to be a win- win.

 

 

These steps are great in any market but in a shifting real estate market it is more important than ever.

 

www.endrebarath.com

 

 

 

 

Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 ( m) homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations. Endre Barath, Jr. Realtor at Berkshire Hathaway HomeServices California Properties DRE#01238708

Comments (36)

Aura Alex
CloseMyDeal, LLC - Seattle, WA
Need A TC? Virtual TC Services Nationwide

As a licensed agent, I enjoyed the listing more than representing buyers. As an unlicensed investor, I am the Buyer. It's not easy to find investor-friendly agents. 

I believe in the agent's local knowledge and rely on them to help find renters in their area. I sometimes refer renters to agents locally to find permanent homes for them. 

Your points are excellent and well taken. 

Sep 16, 2022 08:42 AM
Peter Mohylsky
PMI. Destin - Miramar Beach, FL

Very nice post.  I am glad I stopped here.  I enjoyed the information and the manner presented.m

Sep 17, 2022 05:50 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

They simply MUST trust us and a huge part of gaining that trust right out of the gate IS being honest with them - sometimes brutally honest! 

 

Spectacular list of 9 buyer tips, Endre! Thank you for sharing!

Sep 17, 2022 08:22 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Laura Cerrano  thank you for adding to the conversation, Endre

Sep 18, 2022 12:56 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Dorie Dillard Austin TX  we are on the same page, Endre

Sep 18, 2022 01:02 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat Palmiotti  you make a great point, Endre

Sep 18, 2022 01:03 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander, Broker  you are absolutely right, Endre

Sep 18, 2022 01:04 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne Martin  we are on the same page, Endre

Sep 18, 2022 01:14 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Brian England  many of my clients have been repeat clients others have become friends too, Endre

Sep 18, 2022 02:00 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Curtis Van Carter  you are so right with #2, some people think I am trying to talk them out of a sale:)Endre

Sep 18, 2022 02:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wanda Kubat-Nerdin - Wanda Can!  indeed there are some agents who get confused that they are the facilitators not the clients, Endre

Sep 18, 2022 02:02 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George Souto  I am always humbled when I get the Feature Star, it is nice to get the word out, Endre

Sep 18, 2022 02:03 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Anna Banana Kruchten CRS, Phoenix Broker  we are so on the same page with #2 I started prefacing that I am not trying to talk them out of a sale just wanted them to be aware:)Endre

Sep 18, 2022 02:10 PM
Anna Banana Kruchten CRS, Phoenix Broker

Exactly Endre.  My clients have always known I will give them the facts and my professional knowledge. 

Sep 18, 2022 03:49 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kathy Streib  you make a great point it helps getting a good agent in a challenging purchase, Endre

Sep 18, 2022 02:24 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sam Shueh thank you for commenting, Endre

Sep 18, 2022 02:25 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant Schneider   thank  you for the update about our mutual friend, I see many  in my market who retired but kept their license up to date just to do referral business for making a call or an email to someone, Endre

Sep 18, 2022 02:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Ray Henson  yes I can understand why Pickle Ball:))Endre

Sep 18, 2022 02:28 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Aura Alex  yes I prefer being a listing agent too, never the less there are times especially in a shifting market where it is good to represent buyers as well, Endre

Sep 18, 2022 02:30 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Peter Mohylsky  you are always welcome to stop in on my posts, thank you for commenting, Endre

Sep 18, 2022 02:40 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  thank you for your comment and glad you liked the points, Endre

Sep 18, 2022 02:40 PM