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3. Get Smart

December 10, 2023 - 10:27 AM EST

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3. Get Smart

Well informed is well armed. Knowledge is power. These cliches couldn't be truer when it comes to real estate. Buying property, whether it's for a primary residence, recreation, or investment, is the biggest dollar value transaction most of us are ever likely to complete. Even with a savvy real estate professional on your team, you should know your objectives and your market inside and out.

Must's, Should's, and Other's (MSO's)

Your MSO's are all the selection criteria we need to define before you go shopping. After consulting with all the stakeholders in the purchase (significant others, family members, co-signers, investment partners, etc.), you should have a good feel for your overall objectives and the specific attributes of an "ideal" property for your needs. Teamed with ValuePlus Properties, you'll add, subtract, and refine these elements to generate three columns of attributes representing your "ideal" property:

  • Things that MUST be present for a candidate property to be considered at all. You will not compromise on these crucial elements.
  • Things that SHOULD be present, but you might be willing to trade for more or less of another meaningful attribute, like cost or distance.
  • OTHER things you don't or can't realistically expect, but it'd sure be nice if they were present!

Know Your Market

Becoming market savvy will put you in a better position as a buyer. For instance, in a seller's market, where demand for homes is high but supply is low, you might want to make a full price+ offer to buy your dream home. But in a buyer's market, where demand for homes is low and supply is high, you might be able to negotiate a better price and terms.

Know the Inventory

Your team's knowledge of every available property that meets most of your MSO's is the foundation of a successful search. New, used, planned, under construction, residential, land, commercial, multi-family, rentals, close-in, way-out, big, small, just right, perfect condition, needing TLC, oughta be condemned... they're out there in droves (currently 26,049 TMLS IDX Listings, not to mention FSBO's, foreclosures, and company direct offerings). Any one of them could be the perfect fit for your real estate puzzle. We're here to help you find and secure that proverbial needle in the haystack.

Be Smart

Buying or selling, we bring a wealth of powerful, useful market intelligence to bear on each of our client's projects. From a simple Visual Inventory to a sophisticated Neighborhood Appreciation Report, our tools complement and enhance our more traditional information resources, such as the Comparable Market Assessment and Neighborhood Factsheet.

Presented in easily understood formats (charts, geographic display, tabular data), expertly tailored, explained, and applied to fit each client's style, situation, and needs, our information-rich approach helps maximize the value and enjoyment you derive from real estate.

Contact us today to put our knowledge, systems, and team of real estate professionals to work on your next real estate project.