The real estate market is a battlefield. Not only are you in direct competition with other buyers, but you have to compete with sellers to get the best deal, with mortgage lenders to secure the lowest rate and with agents to receive their highest level of service. On top of it all, you have to look out for your own financial best interests, ensuring that you remain within your budget.
In these instances, a little knowledge goes a long way. Thankfully, the current digital era is awash with consumer-centric resources to educate and empower real estate buyers. Whether you’re a first-time buyer or a fifteenth-time real estate veteran, consider these essential homebuyer resources.
Finding an Agent: A Real Estate Digital Marketplace
Most people start their real estate journey by ringing up real estate agents. In the past, you might have consulted the Yellow Pages or friend recommendations – with mixed results. Now, you can take a more precise, clinical and insight-rich approach to finding the perfect agent.
The process starts with Nobul, a revolutionary real estate digital marketplace helmed by industry expert Regan McGee. Nobul arms consumers with information they can’t find elsewhere, information traditionally gate kept by agents – like commission rates, transaction histories, verified reviews, service lists, etc. Use the platform’s AI-powered algorithm to find agents suited to your tastes, then have the agents compete for your business by offering attractive terms.
It’s a foolproof way to ensure you get the best possible representation for your big purchase.
Budgeting: Mortgage and Affordability Calculators
Before you start searching for properties in earnest, it’s wise to draw up a rough budget. What’s the lowest you want to go? And what’s the highest figure you can afford? Answering these essential questions will save you from overleveraging – or, worse, defaulting on your mortgage.
Luckily, you have several options to answer those questions. Take an evening to explore various mortgage and affordability calculators online. Most big banks offer such calculators, as do more consumer-centric real estate platforms.
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Market Tracking: Market Conditions Indicators
As you search for homes, it’s important to understand the climate you’re entering. Are you entering a seller’s market where demand outstrips supply, causing prices to climb? Are you in a buyer’s market, where supply outpaces demand and lowers the average home price? Or are you in a Goldilocks-type balanced market?
To find out, consult a market conditions indicator online. You can find easy-to-read examples of market conditions indicators on consumer-focused platforms like Nobul (mentioned above).
Property Comparison: Listings Platforms
Finally – it’s time to find your dream home. In the past, consumers relied solely on their agents to curate offerings and steer them in the right direction. It’s not a bad way to go, but you don’t have to put all your eggs in one proverbial basket. At the same time as your realtor curates listings, you should be checking out listings yourself.
The modern consumer is spoiled for choice in listing marketplaces: Realtor.ca, REW, Zillow, Nobul, etc. These platforms syndicate MLS listings to present you with a comprehensive overview of what’s available in your search perimeter. If something catches your eye, kick the listing over to your agent, who can get the ball rolling on viewings and paperwork.
Don’t enter the battlefield in a blindfold. Use these straightforward, consumer-empowering resources to educate yourself before you take the plunge.