5 Smart Ways to Buy and Sell a Real Estate Property

They say that it is not always easy to do it on your own.  Thus, when thinking of buying real estate properties, it is highly recommended that you do it with the help of professional such as real estate agents or brokers.  They surely know the ins and outs of the industry and can definitely give you a total perspective of the properties you are about to buy or sell.  But it doesn’t mean that you have to rely on them exclusively.  There are smart ways you can follow for successful real estate negotiation.

1. Avoid being greedy or presumptuous.  If you are selling your property, don’t get trapped with the idea that yours is very important, strategic, and one of a kind.  There are factors involved which can make or break the real value of your property.  If you are buying a home, do not assume that the seller have urgent needs for money, thus, you offer a pittance of cash just to get the property.
2. Make a logical offer regardless if you are the seller or buyer.  It is not always a take it or leave it affair.  Do your assignment as a seller; identify reasons why you sell the property at that amount.  If you are buyer, do your homework also. List down reasons why that property can be only worth as much.  It is indeed vital that you know important details with regards to properties you are selling or buying.  This way, you won’t be at the losing end of the homestretch.
3. Word of mouth is just one of the most effective ways to advertise or search for properties.  There are several methods which you can also exploit.  Yes, brokers can help you in this aspect as they have other sources which are not known to you.  However, there is always subjectivity involved.  What they have in mind may not be the one you want.  Thus, it is always better that you initiate search activity by yourself.  This way, you are assured that the ones on your list, whether as a buyer or as a seller, are to your liking and meet your requirements.
4. Patience is always a virtue.  Unless of course that as a buyer you have lots of money to splurge or as a seller you have a compelling motivation to sell your properties.  Economics and statistical data are very helpful when you want to buy or sell.  Do not make the mistake of ignoring prevailing market conditions as you will be selling your property at a fire sale rate or you might be buying property which eats up your resources and will have a negative return of investment in a few years. 
5. Planning is always important.  Every wise investor knows this.  You do not have to grab every opportunity that there is, especially if the market is conducive either to buy or sell.  You might end up acquiring or selling white elephants later on. 

Experts are such a big help, but it will always be smarter and wiser if you seriously attend to other details personally as well.  Remember that real estate properties are not similar to buying and selling other items such as appliances and groceries. 

This article had been published for Dameri and Trexler, an El Dorado Hill real estate agency with over $200 million worth of properties sold since 2002.