The entire real estate industry is likely soon to experience a dynamic change in how buyers and agents work together. We have formulated a strategy for how to deal with the upcoming changes and have developed a step by step guide for how Buyer’s can successfully win a property.
Step 1: Understanding the overall California market.
In brief, the market has not been a friendly place for buyers for a long time. Being outbid, experiencing a lack of inventory to choose from and dealing with skyrocketing prices are the hallmarks of California real estate, especially in high-demand markets like the Bay Area. Yet, it is possible to be successful.
Step 2: Understanding that (A) where you want to live and (B) your budget are mutually inclusive is the first key to obtaining a home.
The challenge is to not have your budget outpaced
by the competitive nature of high-demand areas. If your heart is set on living in a specific area that is out of your budget, then you may need to either consider an adjacent area or preferably purchasing a fixer within your desired neighborhood, which is what we almost always recommend.
Step 3: Sign a buyer’s broker agreement with your agent
(if you’re in the Bay area, we hope that’s with Mykel). By signing an exclusive agreement, you will access complete dedication and expertise, especially in the area of negotiation.
NOTE: If you’re not located in the Bay Area, please don’t hesitate to contact us for a well vetted referral in your area.
Step 4: Get pre-approved with a lender that has a track-record of smooth and on-time closings.
The challenge is to not have your budget outpaced
This may sound simple, but be prepared for your lender to do a thorough examination of your financials, income sources and credit history. While we can’t do this for you, we will be there to support you every step of the way.
We will help you with at least 3 lender referrals for you to choose from.
If you’re a buyer who is interested in working with us, please don’t hesitate to fill out our Buyer’s Questionnaire
Diversity & Inclusion Aren't Just a Statement
At Mykel Ferrantino Luxury Real Estate, we are committed to promoting diversity and inclusion in all aspects of our business. We recognize and value the unique perspectives and experiences that individuals from different backgrounds bring to the table. We work with clients of all races, ethnicities, genders, sexual orientations, religions, ages, and abilities. Our goal is to create an environment where everyone feels welcome and respected. We strive to provide exceptional service to all of our clients, regardless of their background or circumstances. We believe that diversity and inclusion are essential to our success as a company and as a community.
Licensed as: Michael J. Ferrantino II DRE Broker's License # 01884928
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