Want to Jump Into the Housing Market? Here Are a Few Things You’ll Want to Know

FACT CHECK

KATE NEELEY contributing writer

You’ve got to live somewhere, right? Are you renting? Leasing? Owning your own place? Thinking of selling your home? Looking to buy? Most of you likely don’t camp in a tent in the hills, so the housing market is a place you’ll probably find yourself in at different times in your life.

The past year has seen some of the most dramatic shifts — in the buyer’s and seller’s market. Given that at some point you might be buying or selling, it would be a good idea to explore what you’ll need to know to jump into the arena.

Thinking of selling your home? Should you hire an agent? Try and just go it on your own, more or less going “For Sale By Owner.” Read ahead for some ideas to get you started in the real estate world.

If you decide to try and sell your home on your own, you will need to understand the market, what buying and selling entails, and how to obtain all the proper paperwork for contracts, addendums, and financing. The most common reason people might try to go it alone is to avoid the expense of paying an agent with a percentage of the pay out from the sale of the property.

However, attempting this on your own comes at a cost. If you don’t know the market or the value of your home, you might sell your home for much less than it is worth. There are a lot of things to sort through in selling and buying

a home, so if you’re not prepared for all that, it can certainly be an overwhelming prospect.

What are the benefits of hiring an agent? One of the first benefits of having an agent to help you sell your property is that they have access to good sites that get the most traffic from potential buyers — more eyes will see your property.

On that note, agents often have access to excellent photographers to take pictures of your home that will really highlight the good things for people to see when they’re checking online for places to go. The agent can also give you ideas on how to get your home ready to sell. They have experience knowing what potential buyers often look for in a property, so they can help you make needed repairs or create better curb appeal in your home.

With how much you’re going to work with your agent, you’ll want to have an agent who really is a good fit for you. “You will spend lots of time with this person. You want to like them. Trust them. You want an agent with experience who is available for you and understands the market conditions,” says a local real estate expert. To find a good agent, the industry recommends word of mouth. Ask around. There might be someone you know who can help you find a trustworthy and knowledgeable agent. Feel free to interview a few agents before settling on the right one for you.

What about if you’re looking to buy? Using an agent to help you find a place can be especially helpful, and their commission comes from the sale of the property, so you have no cost. Again, they have access to the properties and can help you find places to look at that fit your desires.

Buying a home can be exciting, and selling a property can create new relationships and give you experience and knowledge. It’s also good to know that homes and properties and the stresses of moving can play a part in the process as well. For this reason, try and slow down, do your homework about agents and why they’re recommended. Don’t just pick someone because your uncle’s cousin’s aunt told you they would be good.

The real estate market shifts and property values can change drastically in a short amount of time. If you’re ready to take the plunge, or find yourself in need of relocating, be prepared for an exciting ride and likely a few unexpected twists and turns. Having some trustworthy knowledge by your side, whether hard-earned or in human form as an agent, can make or break your buying and/or selling endeavor.