The Palmer Group

Five Essential Tips To Avoid First Time Home Buyer Rookie Mistakes.

First Time Massachusetts Home Buyers Rookie Mistakes.

First Time Home Buyers Rookie Mistakes.

 

After thirty years in the business, we’ve seen our share of “rookie mistakes”. 

This post will reveal some typical “rookie mistakes” that homebuyers make and give you some tips on how to avoid them.

1.  Research first, representation second.  What do we mean by this?  Most first-time homebuyers don’t research who they are going to be working with. 

They start the process by attending open houses and eventually meeting a broker they kind of like.  They end up working with that broker until they find a home. 

The mistake.  They spent time researching the town, the schools, and the community.  But, they did not research or know their realtor.

Related Article:
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2.  Deep knowledge of the “bones”.  Your broker might be friendly, but does s/he know how a house is built?  They might not know if a home has good “bones”, could it be expanded or remodeled, potential costs associated, are the mechanicals up to speed, will the roof need replacing, and more.  All of these are as important in your home buying decision as how nice the landscaping and de’core looks.    

3.  Strong negotiation sales skills.  The other area buyers fail to research is whether or not their broker is a tough and effective negotiator.  For all they know the broker may have only dealt with a small amount of deals and they may have very little professional negotiating skills.  First time home buyers always lose when they partner with inexperienced sales professionals.  

4.  Full-time, full knowledge.  One of the biggest problems in real estate today is that it is dominated by part-time employees.  They enter into the business full steam then leave after a few years experiencing how challenging it can be to survive in this profession. 

These “newbies” as we call them are insented to make sales and do not always look out for your best interests.  They may not tell you that investing in a home near a gun club is not always a wise decision because they need to close a deal.  

Find out how long your agent has been in real estate and if they have a sales background.  Be leary if they never point out a bad investment or property. 

5.  Interview your broker.  In over 30 years in the business, I’ve only been interviewed once by a buyer.  This nice young couple looking to buy in Weston got my name by way of referral and they still wanted to interview me. 

I met them at the local coffee shop, and we sat and talked for awhile.  They asked tough questions about my experience, and I told them that I have spent the last 30 years working as a realtor and developer, and how we buy, remodel, and resell homes as a business.  

We then spent an hour touring Weston and I showed them actual homes we’ve bought and remodeled as projects, homes we’ve helped  clients buy and sell, and a tour of a home in progress, carefully noting how to identify quality products and craftsmanship

This nice young couple  became great clients and friends.  They bought and sold their first home with us and upgraded to a larger home.  They have also trusted us to purchase a vacation home on Cape Cod.  

Because they took the time to interview me, we built a relationship based on trust and experience.  

If you would like to discuss your home search and interview us as potential buyer agents please give us a call us or Send Us A Message Here.

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How To Avoid Missing Out On The Best Real Estate Properties In Massachusetts.

We are Massachusetts real estate specialists. With over 30 years experience selling, buying, and developing homes we have earned our distinction in a crowded market of agents claiming to be #1.  If you would like to schedule a buyer or seller meeting with us, contact us  at 508-596-7377  or [email protected].

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