LUCAS X REALTY

HOW MANY HOMES SHOULD I LOOK AT BEFORE I MAKE A PURCHASING DECISION?

Purchase decisions should be based on your requirements list, not simply on how many homes you have viewed. You can pull the trigger once you see a home that meets at least 70% of your most important requirements. Buying a home is more like speed dating: you have very limited time to understand its traits, but you will spend a lot of time together once committed. Don’t expect a 100% match the first time.

Some traits you want from a home cannot be changed, such as location, floor level, size, facing direction, and age of the home. These are the focus traits—try your best to meet these expectations within your budget. Features like decorations, renovations, imperfect room shapes, or less-than-ideal management companies are tolerable. Don’t drop a deal over these minor defects.

HOW DO YOUR FEES WORK?

Most of the time, brokers only receive commissions from sellers. Buyers should not be obligated to pay any fee or commission to brokers, unless they have explicitly agreed to pay a separate commission or fee for additional or extended services. A buyer’s broker naturally owes a fiduciary duty to their client, whether or not the buyer pays them.

WHAT DO I DO FIRST BEFORE STARTING VIEWING?

House hunting is exciting yet tiring. Before that, you need a pre-approval letter from the bank, or a bank statement if it is a cash purchase. This way, you can submit an offer immediately when you find a home you like. Time is critical when a property is desired by multiple parties, and a prepared buyer has a better chance of securing their ideal home.

DO I NEED A BROKER WHEN LISTINGS ALL ONLINE

It is true that there is a lot of useful information available online without enlisting an agent. However, the advice and expertise of a real estate broker can prove invaluable. You can send any listings you find online to your agent, and they can manage the process from there.