So you’re ready to begin investing in real estate, you have a good idea where you want to go. You have positive goals you are working towards and are excited about the potential opportunities that can come your way. While you may have a fair idea of how much money you want to invest, is the right property really worth the investment? What is it worth?
We all care about finding “a good deal”. It is the most popular phrase in real estate. There is nothing wrong with believing that and going out to look for “the deal”. The deal may be fine, and it may be a great opportunity, but it is not worth the extra money.
Things happen. Human nature being what it is, anything can and will go wrong. Things are rarely the same as they seem. For every buyer who reads every headline and every ad or property flyer, there will be others who walk away without ever placing an offer. The initial excitement of finding a property that you can “do anything with” quickly turns into frustration of trying to find the perfect property to move on to the next Tampa Realtor.
That’s why we are Realtors, to help you find “the right deal” and to help you avoid the heartache.
Let’s get to work, so you know what you are up against. What is a neighborhood like? Ask your Realtor to show you properties in the area and what they think is the likely price range of people who might be interested in purchasing the property you are shopping for. Get to know what your competition is being marketed for. There are plenty of other Tampa Realtors out there to help you along the way, but remember that there Maybe greater competition for some of these properties. You must know your market and the competition in that particular Tampa marketplace.
It is important when you are Realtor to help your client. Sometimes people are trying to “help themselves” by misrepresenting the facts of what their property is really worth. Sometimes they are trying to “get somebody” to buy the property. Before you take this step, do your homework both on your client and on the information that is out there about the neighborhood.
One of the best ways to help “your client” is to really study your market and follow the “purance” that is out there. Many Realtors work in a market that has the worst terms for selling a property. In essence this means that properties are often not selling at all. In these cases this could mean that the ownership, the terms, or the selling price is not right. Try not to be afraid to ask the right questions. In many cases, a client will want to get an advantage and you may be able to work that.
Remember that there are a lot of properties on the market, and that there is still competition. Factors such as that can dictate the terms and conditions or the asking price, which makes it important to evaluate these elements carefully. Sometimes when a property is marketed correctly, it is not always the market jumping on the “stick” because this could eliminate qualified buyers from the property.
Sometimes the best way to evaluate a property is to get the seller on board. This means that every possible avenue of exposure needs to be utilized in order to get your client’s attention and interest. Remember, not all properties sell because of marketing. Sometimes a buyer will be looking for a property to buy and the Tampa Realtor is working with them on their transaction. If the seller is open to your offer then you and your client can sometimes receive a better deal.
Having a network of other professionals around you as your assistants is also important. Sometimes the only person that can get a property closed is the one who is making the offer. This offers a lot of leverage to the deal and can make it much easier for you to close a deal. Sometimes it is even better if a deal is closed by somebody else rather than by a Realtor in that case.
Shifting your position in relation to a property is also important. If you are working with a buyer then you should have your client come and see the property you are trying to sell. It is wise to have them view the home with you. They may see something in that home or know something about the property that can help them decide that the property is right for them.
The focus is on making your client excited about the home being presented to them. Do not act as an appliance for your client. Provide them with information on the home. Make sure they ask you a lot of questions, and leave them with a positive feeling about the home.
Make sure that your negotiations are even up to par with the asking price. You will need to find that “sweet spot” for them so that it is not overpriced for the neighborhood or the property itself.