THE HOMEBUYING EXPERIENCE
An Exceptional Tradition
“WE’VE SPENT NEARLY 50 YEARS BUILDING OUR BRAND AND REPUTATION ONE HANDSHAKE AT A TIME.”
At Intracoastal Realty, we are proud of our unparalleled tradition as the area’s leading firm for properties of distinction. Built upon a history of expertise, integrity, and personalized service, our company is privileged to have represented generations of the most outstanding homeowners in the area.
Being an independent company instead of a franchise has allowed Intracoastal Realty to flourish over the years in a highly competitive industry and has enabled the company to develop a reputation for outstanding agents and exceptional service.
Think all real estate agents achieve the same results? Think again. We’ve spent nearly 50 years building our brand and reputation one handshake at a time. In today’s competitive marketplace, our agents continue to excel.
Trey Wallace Jim Wallace PRESIDENT CEO
LOCAL MARKET KNOWLEDGE; GLOBAL RESOURCES
We’re Local. Our firm is rooted in the communities we serve. We possess deep local knowledge, an understanding of local housing regulations, and market trends to help you make smarter, more informed decisions. We bring an authentic “Main Street” perspective to real estate that many of our competitors cannot claim. We’re Global. Our firm’s high-quality reputation is backed by its membership in Leading Real Estate Companies of the World®, an invitation-only global community in over 70 countries. Membership is awarded to firms based on rigorous standards for service and performance. Our affiliations with Luxury Portfolio International and Mayfair International Realty further bolster our global connections and resources.
Well Connected
Importance of Buyer Representation
YOUR HOME-BUYING ADVOCATE AND TRUSTED ADVISOR
Did you know that more than 230 steps can be involved in a successful real estate transaction?
There is much more to the real estate process than just finding a house you like on-line.
Buying a home involves multiple aspects and can be even more complicated in today’s dynamic housing market.
With a plethora of information - and misinformation - in the news and on the Internet about home sales, prices, and market conditions, it can be a daunting task to stay informed. Understanding the supply and demand in your desired area and making a competitive offer on a home can be even more challenging.
Navigating the real estate transaction process without proper guidance and a reliable advisor can lead to legal challenges and risks. Having representation from an Intracoastal Realty buyer’s agent ensures that you have someone looking out for your best interests and enabling you to make informed real estate decisions.
HIRING A SKILLED NEGOTIATOR
In the current real estate market, hiring a skilled negotiator who can potentially save you thousands or even tens of thousands of dollars is crucial. At every stage of the process, from the initial offer to the negotiation of the offer following a home inspection to the possible termination of the deal due to a problematic appraisal, it is essential to have someone who can keep the transaction on track until it is successfully completed.
Understanding your goals, desires, and concerns is fundamental to skillful negotiation, coupled with strong market knowledge and financial acumen. Your Intracoastal Realty buyer’s agent will work with you to negotiate the best possible price and terms for your home purchase.
Negotiation with Market Expertise
Tailored Services to Your Needs
EVERY STEP OF THE WAY
Having an Intracoastal Realty agent by your side is crucial in the real estate process. They can help you understand everything that is involved, point out any unnoticed features with the property, tackle any issues that arise, provide you with a list of reliable service providers, negotiate better contract terms and price, and perhaps locate off-market properties and opportunities.
All of these efforts aim to ensure a smooth transaction and minimize your stress throughout the process.
Our services are distinctive, extensive, and personalized for you, as our long-standing reputation was built on consistently delivering high performance to every client. Our strong local culture is well-aligned with your market-specific needs, and our mission is to guide you every step of the way.
FACILITATION AND GUIDANCE
Your Intracoastal Realty buyer’s agent will simplify the process and guide you through the necessary steps, making the most efficient use of your time. From your home search and negotiation to contract and closing, these are just some of the steps your buyer’s agent will help facilitate.
5 Market Analysis 5 Lender Pre-Approval
5 Maintaining Anonymity
Inspection/Due Diligence Terms 5 Application for Home Insurance 5 Title Examination
5 Home Loan Application and Approval 5 Closing Document Preparation
A Streamlined Process
Customer or Client?
WHAT IS THE DIFFERENCE?
In the world of real estate, there is a difference between a ‘Client’ and a ‘Customer’. A Client is entitled to a higher level of service and information-sharing compared to a Customer. Once you sign a Buyer Representation Agreement, you become a Client, and your agent is obligated to act as a fiduciary, which means they must act in your best interests and exercise discretion while adhering to specific responsibilities, obligations, and the highest standards of loyalty. Simply put, your buyer’s agent will work to negotiate the most favorable transaction terms for you, not the seller.
As a Client, your Intracoastal Realty buyer’s agent will:
5 Pay full attention to your needs
5 Share all information they have about the seller and property with you
5 Keep your personal information confidential
5 Focus on presenting choices that cater to your needs
5 Provide you with all the important facts about the property
5 Give you professional advice throughout the entire process
5 Offer guidance based on comparable properties and market insights
5 Protect and guide you throughout the process
5 Negotiate the best price and terms on your behalf
5 Attempt to solve any issues that arise, with your best interests and satisfaction in mind
THREE KEYS TO UNDERSTANDING CHANGING MARKET CONDITIONS
If you’re planning to purchase a home, it’s crucial to understand the implications of your decision for your family’s future. To make an informed decision, you need answers to these three key questions:
What is happening in the housing market right now? Consumers should not let fear-mongering headlines mislead them and instead gain a thorough understanding of the current real estate market.
How strong is buyer demand at the moment? How much competition do property listings have right now? It is important for consumers to make an informed decision on what is likely their family’s most significant financial asset.
Why is it happening? It is essential to comprehend the influential factors that affect the process of buying or selling real estate. It is equally crucial to understand how these factors interrelate with each other. For instance, how does the amount of the down payment influence the mortgage rate that a buyer will receive? How do the first two affect your local market? In essence, you need to understand the overall housing market and how it will impact your personal real estate goals. Intracoastal Realty agents understand the constantly changing real estate market and can expertly guide you on your journey.
Navigating a Shifting Market
Mortgage Rates
KNOWING YOUR OPTIONS
If you want to buy a home, knowing how mortgage rates impact what you can afford and how much you’ll pay each month is important. Getting guidance from an Intracoastal Realty agent and a trusted lender is crucial. They can help you explore different mortgage options, understand what market factors influence mortgage rates, and how those changes affect you. While interest rates may never reach the historical low of a few years ago, they are still significantly lower than at other times. Find the house you love and can afford, and you can always refinance later if rates drop.
Data Source: Freddie Mac
Data Source: Freddi Mac
ESTABLISHED RELATIONSHIPS WITH LENDERS
In a highly competitive marketplace, buyers often need to stand out. One way to show that you are serious about buying is to get pre-qualified or pre-approved for a mortgage prior to starting your search. Knowing your budget will give you the confidence to know whether the home you wish to purchase is within your reach.
One of the many benefits of working with an Intracoastal Realty agent is that they have established relationships with lenders who can assist you with this process. After selecting a lender, you will need to complete their loan application and provide them with crucial information about your credit, debt, work history, down payment, and residential history.
Why Pre-Approval is Necessary
The Pre-Approval Process
THE “4 C’S” OF QUALIFYING FOR A MORTGAGE
Generally speaking, here are the “4 C’s” that help determine the amount you will be qualified to borrow:
Credit: Your history of paying bills and other debts on time 1 2 3 4
Capacity: Your current and future ability to make your mortgage payments
Capital or Cash Reserves: The money, savings, and investments you have that can be sold quickly for cash
Collateral: The home, or type of home, that you would like to purchase
Getting pre-approved is an important step when you’re looking to buy a home. This can show home sellers that you are committed to the process and speed things up once your offer has been accepted. Many potential homebuyers
tend to overestimate the down payment and credit scores required to qualify for a mortgage. If you’re ready and willing to buy, you might be surprised at your ability to do so.
GIVING BACK VIA BEACON TITLE
Title insurance is crucial for a home buyer because it protects you and the lender from the possibility that your seller doesn’t -- or previous sellers didn’t -- have free and clear ownership of the house and property and, therefore, can’t rightfully transfer full ownership to you. A property survey is also recommended to assess the property’s legal description and boundary lines.
Intracoastal Realty has an interest in Beacon Title Company, which is underwritten by Investor Title Company. By purchasing your title policy through Beacon Title, you receive the same great title insurance offered elsewhere. Intracoastal Realty uses the commissions received through Beacon Title Company to fund the Teacher’s Fund, which is a 501(c)(3) that helps local public and private kindergarten-through-5thgrade school teachers buy the supplies and books they so desperately need. To date, the Teacher’s Fund has awarded over $350,000 in grants locally! Choosing Beacon Title means you are supporting our local school teachers!
Title Insurance
Wants vs. Needs
DETERMINING THE MOST IMPORTANT FEATURES
It is essential to know what you want when you start your home search in this era of being able to shop for anything, anywhere. As we have previously mentioned, the first step in the home-buying process after selecting an agent should be to get pre-approval for a mortgage. This will enable you to determine your budget before you fall in love with a home that is beyond your means. The next step is to list all the features you want in a home and to qualify them as follows:
'Must-Haves' - If a property does not have these features, it should not be considered. Examples include distance from work or family, and the number of bedrooms and bathrooms
'Should-Haves' - If the property meets all the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but doesn’t need to have all the features.
'Absolute-Wish List' - If you find a property in your budget that has all the ‘must-haves,’ most of the ‘should-haves,’ and ANY of the features on our absolute wish list, it’s the winner!
Preparing this list before starting your search will save you time and frustration. It will also inform your agent about the most important features for you before they start showing you homes in your desired areas.
Search thousands of listings in our area on our award-winning website. This fully responsive real estate platform scales perfectly to your phone, tablet, laptop, and desktop. Create customized accounts in which you can save searches and favorite properties and opt to receive new listing alerts. Log on and see why thousands of visitors peruse listings on our website daily.
Home Search Website
HomeSpotter Mobile App
BEST-IN-CLASS APP FOR SEARCHING REAL ESTATE
Download the Intracoastal Realty HomeSpotter App, a beautiful, mobile-first home search app providing an incredible user experience. Considered the area’s best real estate search app according to numerous client and agent testimonials, the app has a 4.9/5.0-star rating in the App Store.
SCAN TO DOWNLOAD OUR APP
Once the app has been downloaded, make sure you select the agent with whom you are working by tapping the three horizontal bars and then Agent Search.
WWW.INTRACOASTALREALTY.COM
IMPORTANCE OF A BUYER REPRESENTATION AGREEMENT
If you’re in search of a home, you need a real estate professional to help you. According to MLS participant rules, signing a Buyer Representation Agreement is mandatory before any agent may show you homes marketed in your local MLS. This document is the first step toward formalizing your working relationship with your chosen buyer’s agent. This agreement can be expansive or limited in scope to best meet the homebuyer’s specific needs. Most importantly, it is a vital tool for clarifying the expectations of the working relationship, developing mutual loyalty, and ensuring that you receive the best possible service.
Your Buyer Representation Agreement also covers how your chosen buyer’s agent will be compensated. In some cases, the seller of a home you may be interested in may have already agreed to pay the buyer’s agent’s compensation. This is something that many sellers do to enhance the marketability of their property and to attract a larger pool of potential buyers. Your Intracoastal Realty buyer’s agent will endeavor to discover these details for you. However, if the sellers are not offering buyer’s agent compensation, you’ll need to factor your agent’s commission into any offer you may write. Alternatively, you have the right to request that your buyer’s agent avoid showing you such homes where you may have to come out of pocket for that expense.
Buyer Representation
