Читать книгу Inside Real Estate - O'Malley Peter - Страница 7

For many people, stepping into the real estate arena feels like entering the Colosseum with lions on the loose. Is it any wonder? The industry designed to get you to buy or sell your most valuable asset isn't noted for outstanding service.

Attempting to conduct any transaction in the face of contradictory advice and other people's vested interests is certainly daunting. Selling agents, buyers' advocates, a varied array of property commentators, well-meaning family members and ‘helpful' friends will all promote their own version of received wisdom about property transactions.

This confusing scenario begs the question, ‘Who can you trust in real estate?'

If you trade in real estate regularly, you should have a better idea about how to conduct these transactions. Nothing beats real-world experience. But being in a position to trust your own judgement based on past experiences is an earned luxury.

Experienced consumers enter real estate negotiations with foresight. Inexperienced consumers, who buy and sell perhaps every five or 10 years, are often knowledgeable and wiser only with hindsight. Once a contract of sale to buy or sell is signed, the transaction is complete, and it becomes very difficult to change its terms. This makes getting it right before locking into a contract imperative. Real estate mistakes can be devastatingly costly and take years to recover from. Hence the roar of lions.

This book is designed to be the buyer's and seller's guiding light through the journey. It provides you with both the insight and the foresight of a career real estate agent – the tricks of the trade, so to speak.

It provides an overview of how the industry works and what you need to know before heading into the property arena for the first or a subsequent time. Knowledge is power. It can alleviate much of the stress and confusion that so often accompanies what should be an exciting time. And while you can study parts of it in isolation, it would be difficult to find all of the information on your own.

Welcome to the insider's journey, and let's start with the first surprise for many – namely, just how time-consuming buying and selling real estate can be. Where to search, how to search, understanding how market pricing works, the best way to select an agent, getting value for your money, what questions to ask … the list goes on.

It can soon feel like you are holding down a second job. For the time poor, this almost inevitably leads to making decisions on the run and hoping it turns out well. Transacting real estate in this way can be a big mistake. Knowledge, not luck, should always be the main driver.

Buyers and sellers take many different paths when seeking someone to trust in real estate. Some will select an agent who was referred by a friend; others will base their decision on an agent's website; others may conduct an exhaustive interview process. Many still rely on that old ‘gut feeling' to decide which agent to work with.

Finding an adviser you trust is vital for a successful property transaction, but undertaking your own research into the industry and its systems should be an automatic part of your due diligence. If the real estate market feels like the Colosseum to you, doing your due diligence is the best way to allay your fears. I hope you will make reading Inside Real Estate a part of that process.

Gain market knowledge before acting or transacting.