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If you’re a homebuyer, there’s a very simple solution – work with a Realtor Buyer Agent who knows their local market. While it may be convenient to start your home search on the Internet, reading the paper or just driving around areas you like to see what signs are posted, these methods don’t give you any indication of what pricing is realistic for that market. You need an expert who has access to literally up-to-the-minute information to help you gauge just where the market is going and how to price an offer that is attractive enough to be accepted, without paying more than you should. Real estate professionals stay on top of current pricing and market trends in a variety of ways.
This is an excellent indication of what price the market will NOT bear at the current time. There are also statistical summaries and reports published within the industry that are indicators not only of current house selling prices, but also what price increases are projected for the upcoming period. A seasoned real estate professional will also have an extensive network of other real estate agents, mortgage lenders, appraisers and other sources of influence to help them keep their finger on the pulse of the current market. If you have a specific neighborhood in mind, make sure you choose a realtor buyer agent who is based nearby and knows the area well. Local news such as zoning changes or proposed future uses of adjacent property can have a major impact on a property’s price and value. A Realtor based in the area will be one of the first to learn such important news. They’ll also be most familiar with the homes for sale in the area, perhaps having listed or sold some of them themselves in the past. Other real estate agents within the same office are also a valuable source of information on the features and pricing of homes currently for sale and such information is usually shared informally on a daily basis. No matter how you look at it, the best way to ensure you don’t waste your time or your money on an over-priced listing, is by working with a Realtor buyer agent.
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