Windermere Real Estate/Wall St., Inc.
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  • Do know what you can afford.  Meet with a good mortgage broker (someone recommended by a person you trust) and together determine exactly what you can afford to spend.  There are new guidelines for you to become aware of.
  • Do know  the current market conditions.  We were in a sellers market from the mid 90's to now.  Homes were "flying off the market".  Now, with a shift to a buyers market, homes are taking longer to sell - unless they are priced to sell in the beginning.  Currently, interest rates are great and the inventory is high - a great time to buy
  • Do know how the listing prices are determined.  A CMA - Comparable Market Analysis is a good place to start and a full time Realtor will assist you with this.  They will also know why a home is taking too much time to sell and if a home sold quickly, they can perhaps tell you why.  A reputable agent will caution a seller that an overpriced home will sit on the market for longer and statistically sell for less than if the home is priced right from the beginning.
  • Do know the agents role.  The listing agent represents the seller and tries to get the highest posssible price for the seller.  The Listing agent will market the home and represent the seller's best interest at all times.  The selling or buyers agent represents the buyer and will assist the buyer in finding a home that fits those needs.  Both agents will negotiate on behalf of their client. 
  • Do know how to find the right buyers agent.  Finding a good agent is one of the most important decisions you can make, as this real estate transaction will be one of the biggest financial investments that most people experience in their lifetime.  Only work with a licensed Realtor who is a member of the National Association of Realtors.  Also, choose an agent who has several years of experience and one who can provide some advanced designations, such as SRES or ABR - Seniors Real Estate Specialist, Accredited Buyers Representative.  These agents have taken extra time to broaden their real estate knowledge by obtaining additional education in their chosen field. 


Source:  Magnolia News City Living, April 23, 2008