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Archive for March 20th, 2011

Helping Buyers find homes

So, whatever my role with clients my value to those clients really is in my knowledge base. What I’ve learned with my 17 years experience and what I continue to learn.

Essentially, when helping buyers, I first have to help them narrow down exactly what it is that they want and what they want to spend. Through an interviewing process we decide what kind of home would best fit the buyer’s needs, what location they want and what they want to spend.

With respect to spending, there is so much more than mortgage payment and interest rates; we have to consider taxes, HOA fees if any, heating costs, cooling costs, maintenance and commuting costs if applicable.

We have to consider time expenses too; such as lawn care and general maintenance time too. Additionally we may also need to consider modernization time costs.

Most importantly in helping buyers is helping them understand what their money will or won’t buy. I have to gently guide a buyer sometimes to the understanding that $120,000 will not buy a home with four bedrooms, two and a half baths, two car garage, twenty- two hundred square feet, five minutes from Duke University and on an acre of land.

It will get you a nice smaller cottage or a townhouse or perhaps a house thirty to forty five minutes north of Durham. Distressed properties are a possibility too in that price range.

I also am charged with educating both buyers and sellers through the process and standardized paperwork. I also have to point out eventualities and what ifs. So much of this part of my career is dependant on my ability to properly and clearly communicate with my clients; whether buyer or seller clients.

I need to be accutely aware of my licensing limitations too; it is important for me to refer to attorneys, surveyors, contractors and so forth when other professional advice is needed.

I am in many ways still a teacher but I’m also a counselor, negotiator and a go to guy; my responsibility is to ensure that the process for my clients is enjoyable and enlightening.

Finally, most buyers have every intention of being in their new homes for a very long time, but I must keep a keen eye on the possibility that one day I might need to resell their new home; in my mind I am always asking myself what are the value added features are of any property?

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