You’ve heard the stories. The agent was “unable” to show homes in a particular neighborhood because of pending sales. The one who recommended making an offer after only three hours on the market then later told you that it was impossible not to sell to anyone interested that quickly. It’s enough to make you want to become your own real estate agent! While many buyers still insist on doing their research, there are some things your agent knows about buying or selling property that can help fetch top dollar and cut through red tape, even when you might not fully understand why they do certain things.
The following are secrets your real estate agent won’t tell you:
1) There Is Less Risk in Buying a Home Right Now
With the stock market and economy doing poorly, it’s not the best time to put your money anywhere but in real estate. Yes, you can make 10% with little to no effort if you buy the right property at the right price. You’ll also have something more valuable than paper profits: equity! And unless you are planning on holding onto that property for only two years, avoiding capital gains tax by living in your new home for half of that time is simply icing on the cake. The longer you stay, the better it gets!
2) You Can Compete Against Cash Offers!
You don’t need to resort to bidding wars or all-cash offers to get the home you want. By understanding your market and having a plan, you can win against cash buyers and those who need to sell “this week.” It’s the first step to buying the home of your dreams. There are plenty of steps you can take to make your offer attractive, even if you aren’t in a position to make a cash offer!
3) Your Agent Can’t Sell It for You, but Your Inspector Might
Your inspector is one of the best resources available for getting top dollar on your property sale or purchase. It’s why they are paid so well by the seller. But it doesn’t stop there! They also have the legal knowledge, building expertise, insurance insight, real estate specialists – even professional negotiators! Who better to suggest using than the person who will be working hand-in-hand with them?
4) You Might Be Able to Buy a New Home First
There’s no need to wait if you are on the verge of putting your current home on the market. It can behoove you to move into your dream home before selling the one that will soon become a nightmare. Some buyers prefer not seeing “For Sale” signs in front of their friends’ homes as they look for potential places to live. The agent representing them usually knows which properties are coming up and what interest is generated, so waiting until it’s listed makes sense.