Many real estate investors don’t know what they want and aren’t able to articulate their needs with the agent/broker. The key here is forming a trust so that your agent/broker is clear on your needs & preferences. Make sure you have the systems in mind before engaging with an agent/broker, too.
- What is your expectation? Start with managing each other’s expectations to avoid wasting time and effort. If you have a maximum amount you want to spend, or will not consider a certain area, or you have a definite timeline, you should articulate clearly.
- What are your past or current property investments? You can tell a lot through evaluating your past and existing real estate investments. It can give your agent/broker a better understanding of your investment appetite.
- What is the purpose of the purchase? Are you planning to move into the property? Is it strictly an investment? Is it for your future children when they move there for school? This would affect a lot on what types of properties your agent/broker would suggest.
- How long are you planning to keep the property until you sell? Similar to the previous point, the expected investment holding period affects the strategy of property investment.
If you are clear on these details at the initial stage, you are more likely to find the property of your dreams without wasting your precious time and effort.
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