Real Estate

5 Things that Can Hurt You in Real Estate

In today’s real estate market, the rise in transactions continues at lightning speed and it is impossible to predict when this frantic growth will slow down. If you want to sell or buy a property, you must therefore adapt to the market and adopt the right attitude. Many sellers or buyers thus compromise their real estate projects since they do not act according to the market.

As real estate brokers, we regularly hear certain phrases that clearly illustrate the frequent mistakes made by sellers or buyers who do not conform to the dynamic rhythm of today’s environment. Let us introduce you to the behaviors you should avoid to successfully sell or buy a property.

Take time

Currently, to buy or sell a house, the key is to be quick. If you want to undertake a project of selling or buying real estate without rushing, this is not the right time for you. “I’m not in a hurry” should therefore not be part of your vocabulary. Transactions follow one another at full speed, and you can’t just watch the train go by. Stay ready to move with alacrity if you want to make your project a reality.

Waive prequalification

Rest assured that a seller will weed out all buyers without mortgage prequalification who submit an offer, even if they have no financial difficulty. The seller will always prioritize buyers holding this official document. It is therefore in your best interest to take this step to avoid unpleasant surprises. Getting pre-qualified costs nothing and at the same time guarantees you a very low-interest rate. Your offer to purchase will have a much better chance of success accompanied by this document. Would you like to estimate your mortgage loan? Use a borrowing capacity calculator to validate everything.

Sell ​​or buy without a broker

Many people believe that selling or buying a property without a broker is a great advantage. Yet it is quite the opposite. A broker or commercial real estate appraiser is an expert you need to win your purchase offer under the best possible conditions. A client not represented by a broker has no chance of having his offer to purchase accepted in the context of multiple offers. Relying on the help of a broker to carry out your real estate project thus allows you to increase your chances of success and to benefit from sound advice. Remember that in Greater Montreal, buyers are represented by brokers in 8 out of 10 transactions.

Look for a golden bargain

In today’s market, forget about discount properties or real estate transactions to your advantage. Most sellers want to experience the market to position themselves and to benefit from the overbidding. They will do anything to take advantage of the strength of the market so if you are just looking for a good deal, it is not impossible, but you will have to do a lot more than just research on Centrist.

Choose a broker based on his commission

To find the best broker for your needs, you should not stop at the amount of his commission. This method of remuneration remains an investment that proves to be quite profitable. This pays not only for the nationwide property and appraisal services of the broker when he succeeds in the sale but also for the entire marketing component, the salary of the employees, the cost of renting the office, etc.

You simply must try to find the right compromise between a competent broker and a reasonable commission. Meeting several brokers remains the best way to see what the real estate industry has to offer. In general, the brokers that offer the cheapest commissions are not necessarily the best.

Understanding today’s market is therefore essential to enter it and succeed in a real estate transaction in optimal conditions. Our advice will certainly be very useful for you to understand the strategy to put in place as well as the attitude to adopt to buy or sell your property at present. Do not hesitate to contact us if you wish to obtain the help of experienced real estate brokers.

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