Portland’s Hot Real Estate Market: Why Hire an Experienced Realtor?
Well, just like in 2006, the market seems to be exploding and suddenly homes are selling in hours rather than months, and the key to the game isn’t about hiring a seasoned practitioner. If you are a buyer, it seems to be all about being the first to the party and if you are a seller, finding a discount broker would seemingly be all you need to do when buyers are waiting at your door the moment you hit the RMLS. But the fact is, working with an experienced broker is like finding a great doctor. Their knowledge about all of the idiosyncrasies of how to appropriately land the home with seven offers or how to determine which of the five offers to select, is all about market savvy and years of wisdom.
Buying a Home: What Do I Need a Realtor For?
It is a common misnomer that buyers believe they are paying their Realtor to find them a home and while that is a critical piece to the transaction, the fact is, with all data being available on the internet and multiple sources to find homes, it’s purely feasible that the buyer could hear of or see the home before their hired practitioner. On the other hand, a great Realtor will be doing the digging and networking beyond the web by talking to past clients, cold calling, sending out mailings, and contacting their colleagues at other firms.
The real value comes when your broker shows you the home. From that moment the questions should be logged, the listing agent interview should be prepared, and your broker should be grabbing every bit of valuable insight they can to strategically set your offer apart from the competition. Most buyers believe that it all comes down to price but that’s truly just one facet of the deal and one you should hope your Realtor can properly educate you on, in terms of real value, before you get emotionally engaged.
Additionally, when writing a great offer, a significant amount of time should be spent discussing the strategic advantages of each of these topics as well: earnest money, down payment, the lender, the pre-approval document, the appraisal, the right of rescission, the home inspection period, who pays for repairs, contingencies and expirations, the closing period, and possession. Each of these topics could easily be a one hour discussion of pros and cons as to how to best deliver your winning offer and or could be the saving grace from guiding you appropriately from making too fast of a decision based on emotions.
Selling a Home
Contrarily, from the seller perspective, there are many strategies for how to achieve your selling price or an offer above the asking price in today’s market. Depending on the seller’s goals, it may be to simply do the least amount of work and sell the home “as is”, or it may be to maximize the value and have the home updated and meticulous in the hopes of generating a bidding war. Yet pricing your home appropriately to achieve your goals, making the appropriate home preparation investments, and/or determining which method to expose your home to the market place, can all be delicate decisions that can impact outcomes.
For example, there are those sellers who may be looking to quietly and confidentially sell their home. In today’s market this can be accomplished by utilizing your Realtor’s network. With a realtor in the know, this can be accomplished fast, simply and you can often achieve your asking price. On the other hand, by employing this method, you could be leaving money on the table. By not using all the marketing platforms available, that could result in generating a bidding war, you may be missing out on a significant financial benefit. This is where an experienced realtor can help guide you through which option may best serve you.
Regardless of whether you are a buyer, seller, or both, at Lee Davies Real Estate, we ensure that every one of our clients has the expertise of a Senior Broker who is teamed with an enthusiastic Associate Broker. This dynamic combination insures that our clients have the hustle to seek out the right home and confidently secure the property for our buyer clientele. As for our sellers, our two broker team provides the needed guidance to make good decisions, along with the ability to be available for inquires around the clock.
If you would like to discuss your next real estate move, or have a friend who may be entering the market, please contact your LDRE Realtor, or call me, Lee Davies, directly, and I will personally assemble a two broker team that is tailored for your real estate needs.