How people buy homes is changing. It’s changing QUICK! Really, the way we buy everything has gone through a sort of revolution since the late 90’s. Real estate has changed even in the past 3 years and in big ways in the past decade. So, if you’re planning on shopping on like it’s 1999 you’re going to have a rough go when it comes to bagging a great deal.
Gone are the days, yet not entirely forgotten, of calling a real estate agent at a big firm who can show you all of their great listings, where they will do all they can to woo you into their firm’s houses. With few exceptions, the houses that are listed for sale can be shown by any company and any Realtor. Plus, instead of seeing a faxed page with a grainy elevation picture and a 2 sentence description we now have tons of data on each house, usually with a handful of pictures too. We used to drive around town like Moses wandering in the wilderness but today we can eliminate 90% of the listings by flipping through our phones before bedtime! It really is incredible the transformation we’ve seen for the better of our clients.
What do YOU need to do differently?
First, get realistic about what you’re going to offer and how fast you’re going to need to move when the right deal comes along. I don’t say this to be pushy, in fact, I talk my clients out of more homes than I talk them into. Why? I want them to love their house and make a good financial move at the same time. So what’s a reasonable offer? Well, the average list-vs.-sales price last year was in the 96.5% range. So if you were looking at a $100,000 home and got it for anything less than $96,500 (including Seller paid closing costs) then you beat the average deal. Sometimes even an above price offer is a deal. If it’s a $110,000 house listed for $100,000… Offering $102,500 is still a great deal.
Second, you need to get a real estate agent (Hint hint… click HERE) that know what they’re doing and can help you spot a good deal quickly.
Last, be prepared to act. Get pre-approved for financing, make a very specific list of what you’re hoping to have, what area you want to be in, how much you want to spend, then get instant property updates set up. We alert our clients within the HOUR that a house that meets or exceeds their criteria hits the market. The best deals go first, and if you want a good deal you need to know about it first.