Finding a great bargain is all about preparation. When it comes to purchasing real estate, you should always come prepared. You need to be well informed to negotiate more effectively with an agent, or else, your counterparty will take advantage of your weakness. We made a little guide, so you can ensure that never happens. Learn the ropes, practice and take control of your next real estate deal.
Finding a Motivated Seller
Visit online platforms such as realestate.com to find great deals or a more motivated seller. Although it’s highly unlikely that you will come across people who’ve put their houses up for sale just to see the kind of responses or offers they’d get, it is possible. On these online platforms, you can also find sellers who are under the gun. They’ve probably already made an offer on a different home. They could be moving to a new city. Whatever the case, you can find them if you filter the search results.
By going through the oldest listings, you will see properties that have been on the market for quite a while and ones that have been poorly marketed. As for the motivated sellers, they’re the ones who initially set a high price for their property and eventually decided to lower it.
Checking Out Independent Agencies
Other than sifting through listings at more popular online platforms such as realestate.com, you can opt to visit independent agencies in the marketplace you’re targeting. From there, you can come across individual agency websites or properties that aren’t listed on the usual platforms. Although it’s going to be more time-consuming, it should be rewarding. You should be able to come across ideal properties that haven’t been launched traditionally, which means you have a better chance of scoring a great deal.
Understanding the Agent’s Process
Real estate agents have their own unique ways of approaching negotiations. While some of them like to disclose offers to all parties, others would rather keep things a secret from prospective buyers. When it comes to the latter, agents usually present all offers to the owner at the same time. Thus, no one gets the opportunity to outbid other parties.
To gain the upper hand, you ought to know what approach the real estate agent is going to follow. You can do that simply by asking the agent when your offer and everyone else’s will be disclosed. It never hurts to ask.
If you want a great bargain, be prepared to put your back into your research. Go over the oldest listings from popular real estate websites so you can find sellers who can give you the best deals. You can also check out independent agency sites if you’ve got no luck with top real estate listings.
Last but not the least, don’t be afraid to ask questions. Inquire about what the owner wants. Ask about the price that might secure the deal. In doing so, you can improve your chances and gain an edge over the competition.
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