McClelland Minute - August 29 2010

Buying With Style

Ask any Realtor to tell you what the ideal client does to make the home search easier on themselves, their support cast of professionals including Realtor, banker, home inspector, insurance agent, and lawyer, invariably what he or she will tell you can be summed up in a single word - “organization”.

When this client comes to buy, they already know what attributes are needed in their next home and what they can afford.  If it is a young couple with a child, but plan on having one more, they seek three bedrooms on one level.  When there are tweens or teenagers in the picture, a two up / two down bi-level often is preferred.  Empty nesters will want minimal stairs, two bathrooms on one level, and main floor laundry.  And so on.

The organized buyer does not waste time on looking at the wrong types of structures or neighbourhoods that don’t fit.  They are focused on what will work for their family, now and into the foreseeable future.  Proximity to the services they seek is important, whether it be work, schools, parks, walking paths, or recreational facilities.

This buyer already knows if new construction is suitable for them, with the attendant need to do landscaping, finish basements and garage interiors, or build fences and decks.  Some have been very successful at refreshing homes, and consequently seek a solidly built residence with potential for gain with sweat equity in a progressive area of the community.

The buyer then sits down with the Realtor in his/her office and defines what needs their family has in housing, and what the budget can realistically afford.  How do they know this?  This buyer has already lined up their financing!  

The Realtor will bring up a selection of potential listings off the Real Estate Board’s internal information system that “fits” within the criteria and review them with the buyer.  From this a shortlist of 10 or so properties is developed.  These are printed off, and off the buyer goes to do a drive by of each address.

Later the buyer calls or emails the Realtor back with their top five or six choices, and no more.  The Realtor will contact the listing brokerage to ensure that each selection is still available and arrange what I like to call the “education tour”.  With him or her, the buyer will visit these homes and discuss what they like or don’t like about their distinctive features, presentation, or location.  From this the Realtor can start to fill in the color between the lines, so to speak.  The picture is becoming clearer.  A veteran Realtor will also not hesitate to point out any discrepancies between what the buyer has said they needed, with what they appear to want; a very important distinction that must be addressed to keep the search on focused and on track.

From this point on, the Realtor will re-examine the other existing listings to see if any prospects were missed the first time around plus forward every new listing meeting the refined search criteria that comes on to the system.  This ensures that the buyer will have the opportunity to be among the first to see a candidate property once it is listed, and with the preparation already made, move to the next stage – negotiating an acceptable offer.  Such a simple and logical pathway to success in one of life’s largest commitments!

Vern McClelland is associate broker with RE/MAX of Lloydminster.  If you have questions or comments on this article or other real estate matters, he can be reached at 780.808.2700 or through the McClelland Group website www.mcclelland.ca

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