Tips to Find the Best Deals with Your Vancouver Realtor | Fusion - WeRIndia

If you’re considering Vancouver real estate, or perhaps already in it, then you probably know that it’s at the upper end of the price scale. You’ll therefore most likely want to be looking for the best deals, and rightly so. The good news is that working with a Realtor Vancouver professional can give you access to those deals.

How to Find the Best Deals with a Realtor Vancouver professional

In fact, there are many ways to find good deals within Vancouver real estate. Although you might need a bit of creativity as described below:

• Listings record
• Timing
• Give the bad marketing pictures a chance
• View For Sale By Owner (FSBO)
• Properties that need refurbishments
• Leasehold versus freehold
• Realtor Vancouver professional
• Real estate websites

Listings Historical Record

You can talk to your Realtor and explore listings details for options on properties that have been there for over 20 days, as a rule of thumb. Some areas might need longer than 20 days though. This depends on the time it takes for someone to make an offer and review the subject conditions. The whole process should take around 20 days which is why listings older than that are usually not in demand. Those owners therefore have to reduce their prices.

Nevertheless, with the spread of covid 19, please note that open house restrictions may impact listings and their overall success rate. You might therefore want to consider longer than 20 days when reviewing where to start. Regardless, talk to your Realtor and also explore listing options to view properties virtually Realtor-led.

Timing

Although the Vancouver real estate market is active all year, there are still some trends around winter and summer. No one can ignore the fact that the winter months get cold meaning that people are less likely to go to open house days. Having said that, with the spread of covid 19, restrictions for open houses has meant that virtual tours and live streaming events have become more popular.

Regardless though, some properties come back onto listings after the winter months usually at a much lower price. The trick, therefore, is to review at least 6 months of historical listing details for options and a view on the trends.

Review Bad Marketing Photos

This might be an odd one but when people are desperate to sell, they’re often not able to take the time or even afford top notch staging photos. Of course you might still have to deal with viewing some bad properties. However, you simply never know until you look. Of course, for open houses, please note that restrictions might delay things. You therefore could consider attending virtual tours and live streaming events.

View Properties For Sale By Owner (FSBO)

Many people choose to bypass Realtor Vancouver professionals in order to avoid their fees. It’s perfectly legal and do-able to follow the FSBO process although in fact, less than 10% actually succeed. Owners are therefore often forced to lower their prices so this is when you’ll find the best deals.

Consider Refurbishment Needs

It’s key to note that property value and selling price are not the same thing. Essentially, a property’s valuation is calculated according to certain criteria however, people often include emotion when it comes to actually buying. This therefore means that the market might actually be willing to pay more than the valuation. Another factor is the level of refurbishment recently done because this can often push up the price beyond the valuation. Therefore, a house that needs a certain amount of repairs might be being sold at a price much lower than the valuation.

Leasehold versus Freehold

Looking for properties that only offer the leasehold is another way to find deals. A freehold will always command a higher price simply because you have virtually full ownership of the property. With a leasehold, there’s always a slight risk that the landlord might take it back. Having said that, there are different levels of leasehold and you’ll need to work out your risk appetite. It’s also worth remembering how this might impact the property’s price should you wish to re-sell though.

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Realtor Vancouver professional

A Realtor Vancouver professional’s job is to find you the best deals. In fact, they often also have properties on their books that are not on listings yet. For example, some people might still be considering their timings and so you could be coming in at just the right time to influence their pricing decision. Again though, take note that for live streaming events contact with a Realtor is still the best way forwards.

Real Estate Websites

Naturally, there are many brokerage sites that you can search to compare various deals. Other sources of information include sites such as the Daily Hive. This is a community news website that also covers real estate which could therefore give you some unbiased views, including deals.

Parting Words on Finding the Best Deals with your Realtor Vancouver professional

The good news is that you can find deals in the Vancouver real estate market. Naturally, you can search online where you’ll probably find the more ’run of the mill’ deals though. It’s therefore worth considering the other options mentioned above and then being a bit creative. Again, talking to people is often the best way which is why appointing an agent might be your way into the ins and outs of the industry and its best deals.

Image by Nattanan Kanchanaprat from Pixabay

1st image reference: https://pixabay.com/photos/money-coin-investment-business-2724241/