With interest rates lower than ever and the lenders feeling relatively generous, many market observers are suggesting this winter 2019 is delivering the best buyer’s market seen in years.
Finding your next home in the least amount of time may simply be a case of asking the right questions.
Buyers should have a clearly defined list of criteria before they start looking, which is generally a reflection of the reason for the purchase. It may be the need for more space, less space, a bigger backyard or being nearer to facilities, for example.
With a clear picture of what property features they are looking for, buyers might then browse web sites. These can provide a good source of information about what is available and what has sold, and of listing and sale prices.
When the real estate agent comes into the picture, the buyer can expect quality information about what is happening in the market. The agent can draw the buyer’s attention to properties for sale and give the buyer access to those properties.
However, the more information a buyer can provide the agent, the greater value that agent will be to the buyer.
A good real estate agent is a buyer’s best resource when looking to purchase a property, but the buyer has a critical role in the relationship. By being able to clearly answer the agent’s key questions about their financial situation, timing and desired property features, the buyer will find they have a more focused property selection, saving them time and energy.
A buyer may begin by asking what the median house/unit price is in the area as that may quickly determine whether their finances will be compatible.
If they haven’t yet established their financial situation, the agent may put them in contact with a property finance consultant.
When an agent is a local property expert, they will be best equipped to answer detailed questions about the location, such as the proximity of nearby schools, transport access and the closest shopping and health services.
The buyer needs an agent who will guide them through the various questions they need to ask to determine whether the property will be suitable for their lifestyle.
Buyers who ask the right questions, have a clearly defined idea but are willing to be open-minded and compromise if necessary have the greatest chance of finding their ideal property in the shortest amount of time.
These are the buyers who actively seek and accept specialist expertise in property sales and finance matters.