3 Things You Need to Know Before Buying a Home in Vancouver
These 3 things are essential knowledge if you want to be a competitive seller in the fall 2021 market.
1.
It takes preparation.
The current state of the Vancouver real estate market is a deep sellers market. This is due to low inventory that’s driving up the competition between buyers for limited listings. But don’t get discouraged, there are still many opportunities and tactics to help buyers win. The main one is preparation.
Preparation means all aspects of the process. From how identifying listings works, to the structure of a contract of purchase and sale, your ideal terms of the contract, financing and mortgage pre-approval, timelines and coordination, to simply what it takes to complete the transaction, the more clear you are on all of these details (and more) the better chance you have of being able to act quickly, intelligently, and with confidence. This is where finding the right real estate advisor comes into play. The right real estate advisor will make sure to sit down and outline all of the above areas and develop a plan to get everything that you, the client needs to have in order to have the best change of securing their dream home.
So if this feels intimidating, it’s time to flip the narrative. Instead of asking yourself how you can make this happen, ask yourself how you can find a real estate advisor who you can trust will be there every step of the way to ensure the process is as smooth and effective as possible. Once you find the right advisor, then the process becomes so much easier.
2.
It takes perspective.
Vancouver is changing, and I think that’s a beautiful thing. There is so much opportunity and development coming to our city, and in some cases areas that might not be your first choice could actually be a better fit (and a better investment opportunity) than you might think.
Often times buyers can fall into the trap of area-fixation, where they can’t see outside of their predetermined ideas of where they want to be. While buyers often have great reasons for wanting to be in an area, sometimes it just takes a different perspective to open up possibility for housing that end up being a perfect fit.
I always tell buyers that if something catches their eye in an area that they weren’t previous looking, that they should take that a sign to explore it. The right advisor can help a client truly see the positive and negative of a listing, and help them to make the most informed decision possible. Ultimately making an informed decision after considering all the options leads to less buyer remorse and a more confident purchase.
3.
It takes persistence.
The fact of today’s market is that you will lose, and potentially lose a few times. That’s ok. The key to the transaction is not to accept defeat, but to be persistent in your efforts as a buyer to find the right property and put your best foot forward in each scenario.
This may sound obvious, but once your in the emotionally-charged situation of a contract that fell apart or losing out in multiple offers, it can be discouraging and occasionally devastating. But here’s where the advisor difference comes into play.
I’m not here to simply make a commission and close another deal. I’m here to support you through the challenges, the disappointments, and am committed to being by your side as your trusted advisor until we get to celebrating closing the deal on a home that brings you joy.
Persistence is a vital part of every real estate transaction, buying and selling. Persistence is about laying out the steps that it will take to get a deal done, and following through. Persistence is following up with clients, listing agents, mortgage brokers, contractors, stagers, painters, and anyone else involved to make sure that a transaction is coming together and the clients wishes and being honored. Persistence is about completing everything with competence, and working together to accomplish our common goal, buying real estate in Vancouver.
Ready to get to work? I’m accepting new clients for the Fall 2021 market right now, and would love to show you the Engel & Volkers difference.
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