Luxury Real Estate is Buzzing- Meet a Realtor

Engage an Established Real Estate Agent

If you are taking your first steps in luxury real estate, it helps to have a specialized real estate agent on your side. Agents who deal exclusively in luxury real estate. They can also work on the buyer’s behalf to search available listings and arrange viewings of shortlisted properties. Working with the buyer, they can understand what the client requirements and draw up a list of suitable properties and indicative prices. A seller’s agent uploads the listing and takes care of the negotiations to complete the deal. The services of a buyer’s agent are paid from the commission for a successful sale.

Get your Budget and Financing Sorted before Seeing Houses

This goes to all the buyers. It makes sense to get all financing pre-approved from accredited lenders before you start house hunting. That way, buyers can quickly move on to completing a sale once the price is negotiated and agreed. You could waste precious time getting your loans in order considering the procedure and paperwork involved. Before the sale, buyers should have necessary approvals, credit reports and cash for the down payment in order. An inspection fee may also be required for getting a third party opinion about the property.

Location Sets the Price

When it comes to deciding prices, location is perhaps the most important factor driving rates for luxury homes. A commanding waterfront home does have a high premium among buyers compared to a property that does not. Buyers can ask their real estate agent to estimate the prices at which comparable properties in their desired area are selling for to get a grasp of the prices involved. Waterfront locations in the area rank among the most valuable real estate anywhere in coastal locations worldwide. You can also consult journals specializing in real estate to know prevailing prices.

Keep the Essentials in Mind

When deciding the price, buyers should keep their negotiations focused on the real attributes of the home like its structural health, location and acreage in contrast to easily upgradeable amenities like parking and security systems. Focusing on potential issues uncovered by inspections to drive a lower price is sure to bring positive results for buyers.

Proceed with a Viewing

If you are looking at your first entry into luxury homes, it is best to conduct a viewing of your shortlisted properties with the agent. A viewing will give you a feel of the pluses and minuses of the property which you can then consider while the price negotiations are on.

Yes, you can Negotiate

The real estate market is quite active. A fluid population and large numbers of seniors and professionals looking to settle down in the area ensure that new places are always coming up for sale. So arm yourself with as much detailed knowledge as you can get about the kind of expected prices. Knowing as much as possible about your preferred locations helps you in fixing an adequate price for your dream home.

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