What Are the Most Important Words in Real Estate?

What Are the Most Important Words in Real Estate?

For years a quick answer to the question was location, location, location! In my opinion I have always felt that answer was shortsighted!

As a real estate broker, I have always felt there was no short answer to the question, instead my answer for years was location, price and condition. Why? Location is static, that is in can not easily be changed for an existing property, if it was only about location, then are only those properties in the most desirable locations saleable? Condition is important since the overall condition of a property dictates its functionality and desirability. Either the seller or the buyer can make accommodations to either improve an asking price or to improve the value after purchase. Price, is the balancing item that can take into consideration the differences in condition and location to make a property appealing to a multitude of potential buyers.

But, that may not be enough! Over the years I added 2 more words that I have found to have a major impact in real estate. The two words are accessibility and flexibility. Both of these words, actually more than just words but rather social responsiveness can be applied to buyers, sellers and real estate professionals. How accessible and how flexible are all the parties in either making a property easy to be seen. You see, both buyers and sellers need to be accommodating to the needs and time frames of each other and the real estate professionals needs to be able to coordinate this in order to allow all parties to achieve their ultimate goals.

Today though, I preach that there actually is only one most important word in Real Estate and that is representation. While everything I said previously still holds true, buyers and sellers need to be able to understand that who the real estate professionals are actually representing in the transaction is most important. As a seller you want to make sure that the real estate professional you list your home with is actually representing you and not a book of buyer business that could cloud their responsibilities. As a buyer you want to make sure that your real estate professional has your best interests at hand.

How you choose the real estate professional who will represent you, may be the most determining factor in a successful and satisfying completion of your purchase or sale.

While many buyers and sellers may make the cost of the professional real estate service fee the deciding factor, buyers and sellers should really be looking for, experience, market area, activity and community knowledge, reputation, trustworthiness, education, personality, presentation, cohesive relationship, community involvement and negotiation skills as some of the most important characteristics and skills of a real estate professional.

The success of your single largest financial investment depends on how you decide to proceed in starting the entire process.

So, remember, what are some of the most important words in real estate?  Representation, condition, location, accessibility, flexibility and price!

Whether you are a buyer or seller, I wish you happy hunting! Remember, it’s a jungle out there, Let Safari Realty be your guide! Giv e us a call, 718.442.5200

(This content was created without the help of AI)