When The Real Estate Market Goes Through The Roof, You Need A Professional In Your Corner.
It’s 2021 and the real estate market is cooking. After a hold due to the pandemic, more existing homes were sold last year than in any year since 2006. Demand is high, supply is low, mortgage interest rates are low: we really are in uncharted waters. And a recent Zillow survey indicates that millions of Americans plan on taking the plunge within the next year. This is a unique seller’s market with the potential for huge profits for those with assets to move. But what if you’re looking to buy?
With prices so high, investors may be thinking about how they can outperform others who are also trying to cash in...but now is not the time to go into the ring without someone in your corner. Whether you’re looking for your dream home or an investment property, houses are regularly going for $20,000-$50,000 over asking price right now, meaning the barrier to entry is steep. Teaming up with a professional who has an established reputation and preexisting connections in the local market is well worth the 3% commission. Smart investors know that being able to decipher the signal from the noise is the key to success. Even though the market is paying out more than in the past, the resulting frenzy has made having an adviser on your side more important than ever, especially if you’re on the buying side.
Nvest® = Greater Supply = Greater Opportunity
If you’re looking to buy right now, you’re swimming against the tide...but there’s still value to be found if you do it right. At Nexus Property Management® we offer buyer’s agency in the form of our Nvest® program. These Real Estate Buyer Representative Services include initial consultation, property search and analysis, and guidance through the buying and closing processes.
With expertise and firsthand knowledge of inventory throughout Rhode Island, greater Fall River, Worcester county, and Boston’s western suburbs, Nexus provides greater opportunity to clients due to this unmatched scalability throughout the region. Simply put, we know property in Southeastern New England and we have relationships with real estate professionals throughout the area. ← That’s where you find value!!!
Nexus will survey your current holdings and recommend next options and parameters for probable investment actions based on your flexibility and the market. We’ll then locate investment options that suit your capabilities along with a detailed analysis, fiscal modeling, and ROI forecasting based on our own data for comparable properties (over 1000 units under management). On top of that we take care of contracts and offer award winning management services that allow our clients to purchase properties that would otherwise be too far away to maintain.
And the kicker is that this Nvest® service comes at NO COST to our clients (Nvest® agents will be compensated by the property owner’s listing agent).
What If I’d Prefer to Avoid This Market Altogether?
The impulse to avoid this market is a reasonable one...but why not make that decision with the advice of an expert? You’ve got nothing to lose by reaching out to a trusted buyer’s agent. As mentioned above, Nexus will look at your goals and ability to buy while actively surveying properties throughout the region. There’s no pressure to buy. In fact, establishing relationships and putting yourself in permission to make the most lucrative choices once the opportunity presents itself is the way to outperform other investors. Remember, information and relationships can be just as valuable as the money you’ve got set aside when it comes to smart investing.
Maybe It’s Not Time To Buy, But It’s Also Not Time To Take A Break
Even if it’s not with a buyer’s agent, now is a good time to contact and build relationships with local real estate professionals. These conditions are ideal for gathering advice and figuring out who you can trust. As a buyer who expresses a conservative approach, be wary of anyone who tries to push you into this market. Be wary of anyone who is looking for upfront fees. Network and explore your options so you’re ready to jump back in when the time comes. And if you’re a New England investor serious about navigating these rough waters, whether you’re planning on getting wet now or later, reach out to us at nexuspropertymanagement.com for more information.
Mick Lefort is the Vice President of Operations for Nexus Property Management®. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.
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