Powerful Buying Strategies (3 of 7)

Sell first. Clients often ask about what order they should approach a real estate transaction when they already own a home. Sell your existing home first — then buy. The property you want will probably not take a contingency offer based on you needing to sell your current home — especially in the current market environment. If you are emotionally attached to what you want to buy you won’t be as objective on selling your home. You may take less than it’s worth so that you don’t lose the other home. There’s nothing wrong with that as long as you understand the financial implications. Selling, buying, moving, researching and arranging your financing is a challenging project. Be prepared for a disruption in your normal daily life. Remember, it's only temporary and the effort will well worth the rewards of your new home in the end.

Powerful Buying Strategies (2 of 7)

Get pre-approved. Find out what you can afford and check out all your options. Meet with the various experts you need to acquire all your financial facts — a lender, your tax advisor, investment broker, etc. Knowing exactly what you can spend will eliminate time spent looking at properties you can’t afford. Not to mention, when you find the right property you can make a “clean” offer. Sellers are more likely to respond favorably to clean offers and pre-approved buyers. As a buyer's agent, I always submit a offer with a pre-approval letter. The offer is nearly worthless without one. Additionally, as a listing agent — the agent helping my clients sell their home, I would advise against getting involved with an offer that was not accompanied by a pre-approval letter from a reputable lender, mortgage broker or bank.

Powerful Buying Strategies (1 of 7)

In a perfect world, it would be easy to always be objective and make rational decisions based on sound information. But in reality, emotions and timing often have a big effect. Sometimes the best you can do is to set the stage so that you minimize the subjective influences. Give yourself power and control. Don’t find yourself in the position of “having” to buy and doing so in haste. Here are 7 powerful buying strategies to help you get started!

1. Acquire the services of a Realtor® who knows the market. In this age of the internet, buyers have some of the same access to data as agents have. However, an experienced buyer’s agent has the ability to interpret the data and apply it to your unique situation. Realtors® do more than show homes and write contracts. They study market trends and observe area fluctuations. You are thinking about your needs now, but your buyer’s agent is thinking about both now and in the future when you are ready to sell again.