Today's volatile real estate market involves complex laws and fluctuating financial conditions. Maybe you've outgrown your first home; maybe you're in the process of turning over your fourth. Whatever your unique set of circumstances, you want to be well-informed every step of the way. Thus, it pays to choose your real estate advisor carefully.
Your realtor should no doubt hold considerable, first-hand property investment experience. The more financial and legal knowledge he or she has, the better equipped to guide you in your home-buying and selling decisions. If you can find a realtor who is also a licensed attorney, hang onto him for life!
Did you know: home equity yields a 10-12% investment rate with every transaction. If you put 10% down on a $300,000 home, you'll be able to sell the same residence for $600,000 in approximately 7.2 years. The more homes you buy, the higher you build your home equity-- and the lower your interest rate drops. That means the more real estate you turn over in your lifetime, the greater your net return. It's called compound growth, and it's a win-win situation.
You'll find that the more homes you sell, the better you become at it. With help from a qualified real estate expert, you can be sure that your investment decisions are rock-solid.
What to look for when shopping for a realtor:
A trust-based partnership. As a personal investor, you should never have to feel pressured. In these uncertain times, long-term, trust-based relationships are incredibly important. The right real estate advisor will operate from an ethical standpoint and keep your long-term goals and best interests in mind. Whether you're a first-time buyer, a new landlord or looking to turn over multiple properties, your real estate consultant should be in it with you for the long haul.
An honest opinion. Seek out real estate counsel from an honest, straightforward approach to doing business. It's so tempting to let someone tell you want to hear; but for your own investment knowledge, you deserve the truth! If the market's taking a turn for the worst, would you want to be the last to know? Choose a realtor with a no-nonsense approach who will help you make realistic decisions.
Creative financial solutions. Each person's situation is different from the next. Don't let yourself be categorized! Instead, choose a realtor who'll provide one-on-one with a deep understanding of the real estate market and trends to provide expert insights on how timing, pricing and financial issues will affect your purchase. Worried about getting in over your head? The right realtor can create financing solutions that will "make the deal work." Don't settle for anything less!
A local resident expert. What better way to get inside information on your potential future neighborhood than from someone who lives nearby? Your local realty expert can provide the inside information you need. Get the scoop on the neighborhood, school system, recreation, economy... all those little things that decide whether this town is someplace where you'd like to live, run a business, operate as a landlord, or raise your children.
There's no time like the present to start thinking about the future. Whether it's for next month, next season or next year, the time is right for doing your real estate research... so you can be sure the realtor you select is the right one for you!