Is the home you are looking at buying unusual and does it appeal to a limited market? A lot of homeowners like put their own personality into a house, which is to be commended. However, if the style is too "uniquely individual" it may appeal to only a limited number of potential home buyers. This will usually minimize, rather than maximize, the resale value of the property.
When buying a home consider access to community facilities, shopping malls, public transport, schools etc.
Although the quality of a school district might not matter to you now, it might in the future, or it might matter to another buyer.
At some stage in the future you may want to sell the home you are currently buying, so think about facilities that another buyer might be wanting within easy access.
Regardless of whether you are buying or selling, look for other things that might affect the value of the property and consider what you might be able to do about it.
If you are buying; look at what might reduce the price you pay, the resale value, or amount of work or money required to rectify the problem (if if can be fixed). If the problem can't be fixed, are you prepared to accept this situation.
If you are a seller; think about things that might make the property more difficult to sell, or that might restrict the market you are appealing to, or that might limit the price you get for the property. What can you do about these things?
Here are some examples of things that could affect the value or appeal of a property:
Usually there's a clause in the offer requiring the home owner to accept or reject the contract within a specified time frame. The period for acceptance is often 24, 48 or 72 hours.
If there's a time period stated in your offer, wait until the time has elapsed for a phone call or a counter offer. If you don't hear anything then call the realtor and ask casually if he/she has heard anything on your offer.
Remember that, unless you have a contract with the realtor, he or she will normally are working for the seller, not you the buyer.
The main thing is to get an answer without sounding too desperate to know. Afterall, you do need to know, especially if you are looking at other properties to buy.
If the property you are buying is on a busy or noisy street it may affect the property value. Is it a quiet street or is there a lot of traffic? Does the traffic go in just one direction or two? How easy is it top access the driveway from each direction and how easy is it to exit the driveway to each direction? These are just some of the questions to answer when buying a home.
Before deciding which real estate agent would do the best job marketing your home, it pays to undertake an interview process. It is important to select the right agent who will not only have the best chance at getting you the desired result, but also one that is a pleasure to work with.
In the interview process you need to make sure that the real agent is giving you honest answers and not just saying what he or she thinks you want to hear.
Here is a good question that stumps a few agents and could reveal an unexpected answer.
Here is the question: Apart from yourself, who is the best real estate agent in this area?
Some agents will evasively say, "I really don't have any competition." But the best agents will honestly answer your question.
You may then want to ask the agent - why he or she gave that particular answer?
Also, don't hesitate to ask the agent you're interviewing, what he or she thinks of the other realtors on your interview list.
Remember, it is not about tricking the agent, it is about getting truthful and helpful answers.
If you are starting work as a real estate agent then try and work with the best broker you can. Find a broker you trust that's got a mentoring and training approach that they actually use. Interview the veteran agents (and new agents) in that organization first to be sure you've chosen a good brokerage.Many brokers let new agents do a few deals and lots of "donkey work." Doing the routine stuff is a good way to learn, but the key is not to get burnt out.
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