Posted on January 5, 2019 by Vancouver Realtor - Axel Ziba PREC - Engel & Völkers
When purchasing a property and starting your search, it is important to locate a local REALTOR®. In this article we will briefly discuss the importance of having an experienced buyer agent on your side. Every buyer purchases for different reasons. When meeting with your Realtor it is a good idea to ask yourself the following because a good agent will do.Is it to make money as a holding property, investment property, rental revenue income, or is it completely a different avenue; because of your lifestyle, growing family size, or even downsizing? If the purpose is to make money, then timing and how long to hold the property is very important factor. Skilled Realtor who is knowledgeable about the local market and its on-going trends can easily assist you to see if a property is purposed for short or long investment and how much is stretching the original equity. no matter the reason of the purchase, everyone is expecting their biggest investment to flourish and prosper. Having a real estate agent on your side helps you to:
Identify the progress of the local neighborhood:
This information is crucial. As an example as designated real estate agent for my Buyer clients I just discovered a nearby senior living facility to the subject property which was recently sold to a developer with plans to rezone and develop this property by adding two additional levels and creating a mix use of rentals and low-income support. In this particular case, if I didn't research the neighborhood and didn't discover such impact, my clients investment by buying near this senior facility, could have been effected as the growth of investment and the time of holding the property to make further equity could increase from an expected 10 years with a little to no growth in value.
Investigate all paperwork:
A good REALTOR® always performs due diligence and reviews Title search, property disclosure statement, city maps, permits and zoning, feature city approved developments, and contacting the city to find out about any bylaws violation or legal information. In addition a thorough and experienced real estate agent can help finding out the regulation on the zoning and allowable use of property for further development.
Market value and estimating the true value of a property
REALTORS® can investigate the trend of sold properties within the same market status and come up with a close variation of dollar value for the property. This helps buyers and sellers to determine the market value and the value of their investment. After all, is about making profit in real estate and no one like depreciation in value.
State and condition of the property
Although home inspection is super important for purchasing every home, a sophisticated licensed agent also is knowledgeable in basic construction and can spot any problematic issue with the property for sale. When viewing, your REALTOR® can help you determine the age of house, age of the roof, plumbing updates, electrical updates, existence of any latent defect by investigating this information from the listing agent prior to walk-through. He or she can also point out any problem with mold, window updates, foundation cracks or floor plan practicality. Speaking of the floor plan, it is one the most important and ignored factor for investors. Floor plan and the way the house is designed, can determine, its niche friendliness. Is it designed with family, privacy, and comfort in mind?
Network and local awareness
A REALTOR® has many contacts and network in different industries. from hospitality to handyman, he or she is the best source to locate a reputable professional to get you the best or best rate.There are so many fact that anagent is your best protection in a transaction. Did I mention they are also the top negotiators? The most effective way of using an agent is that he or she helps finding your purpose in Real Estate and provides extreme value.There are many good Vancouver REALTORS®. Why settle for good when you can have the best to work for you. My knowledge, competence and extraordinary skills have been my best power to help man clients find and close their dream homes. Your dreams are my mission. Contact me today.
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