At this point in the residential real estate market, is NOW is a great time to buy?
"Should a Buyer's Agent (including a homeseller's listing-agent) convince a buyer that now is a good time to buy?"
That would be incorrect, the Buyer's Agent should not do that.
It is our philosphy and belief that it is just plain wrong to attempt to "convince" someone to make a huge financial decision, like whether or not to purchase a new home. Our homebuyer clients and customers are adults and are completely encouraged to reach their own conclusions, based on personal circumstances, beliefs and tolerance for investment risk. The homebuyer client or customer may, however, be assisted by their Buyer's Agent in order to help them reach the right homebuying decision. This is achieved by the Buyer's Agent being knowledgeable, by being supportive and - most of all - by being non-pushy at all times during the home-search/homebuying process.
The Buyer's Agent should be knowledgeable by staying on top of market trends, conditions and data. This is achieved by reading articles and reports from national, state and local Realtor Associations and other reputable and knowledgable sources regarding the residential real estate market and economy, nationally as well as locally (including the positive as well as of the doom and gloom variety). The Buyer's Agent should, therefore, be prepared with market facts and figures when the homebuyer client asks for them.
The Buyer's Agent should also be supportive. If the prospective homebuyer declares that timing is not right for him or for her to buy a house, this position should be acknowledged and respected. It is not to be disputed or argued with!
Our homebuyer clients and customers know that we're paid on commission. Any appearance, therefore, of pushing them to do something they've decided they don't want to do would not merely be wrong but would also most certainly forfeit their trust. And, subsequently, any possibility of their future business. Our homebuyers rightly expect their Buyer's Agent to be looking out for their best interests. Any indication to the contrary (e.g. the agent seeming more concerned with a paycheck than with the homebuyer's needs) would seriously compromise or damage the integrity of the agent-client relationship.
The homebuyer must consciously be aware that the Buyer's Agent is on their team - working only for them.
Once the homebuyer realizes that the Buyer's Agent is on their side, the homebuyer may actually ask for the agent's opinion on the matter. At this time the Buyer's Agent is free to provide that opinion - and that is where market knowledge and expertise would be important. Once the homebuyer asks for advice, there will be a greater willingness to listen. A greater willingness than if advice is pushed on them, unasked or uninvited.
The prospective homebuyer may decide not to buy a home at any particular time, but may well return on a future date when they feel better about the market, about the economy or about their personal financial or other circumstances. A good Buyer's Agent will be welcoming when that time comes and be prepared to accommodate their returning client's home-search needs, as appropriate to any change in circumstances or market conditions which may have taken place in the interim period.
That said, when a homebuyer prospect feels ready to take the plunge into the South Florida residential real estate market, and a great many buyer opportunities undoubtedly exist today, we are extremely prepared to advise, assist and exclusively represent the homebuyer client or customer in their search and acquisition of their dream residence, vacation home, second home or investment property.
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