Time and time again, I have folks, other agents, in my offices at RE/MAX of Santa Clarita wanting to know the best way in which to prepare for the Business Day. In fact, they also want to know what our magic bullet is when it comes to generating our leads. They look at the 4 large monitors and think that is my silver bullet. However, when I tell the time that Paris and I both invest in our Real Estate Business, the shake and shiver.
Preparation and education is the key to real estate success. Real estate is local and individual and it is necessary for buyers to not only know the local market where they intend to buy but also to know their own individual needs. Investing in rental property is different from investing in a primary residence for example and being aware of goals, needs, and intended end results is useful information.
Bargains exist in today’s real estate, however for the most part buying a true bargain involves patience as the process is a lengthy one. Timing is typically different on a short sale or REO property, acceptance deadlines are rarely met, and the same is true for the majority of typical contractual time-lines. In addition, utilizing a REALTOR that has experience with bank owned properties as well as short sale properties can be incredibly useful.
Knowing the local market is easier with access to current market data. Knowing what is selling where and for what enables a buyer to know what constitutes a reasonable offer. This can be done by being glued to the internet, the newspapers and the assessors office or by working with a real estate professional whose job it is to know the market inside and out. The important thing to remember is that knowledge is power when it comes to real estate.
Working Smarter and Harder is the Key to any successful business. Back in the late 90's and early 2000's - Real estate was much easier. Buyers were plentiful and the world of Lending was seemingly out of control. Today, those deals don't just "fall into your lap". They take a lot of work - some have said every as much as five times more work to get any single deal closed. Keep at it and let us know if we can help you...