Jason Kok

Real Estate Broker
Lake Homes and Farms Realty
608-386-5597
jason@lakesundown.com

13 Real Estate Tips from Forbes Magazine that Hold up in any Real Estate Market

Posted by Jason Kok | January 13, 2019
Categories: News

1. Always Conduct Thorough Research On The Current Market 

Although real estate values fluctuate due to local supply/demand dynamics and broader national economic considerations, it’s important to remember that properties always sell for no more or less than what the market will bear at that time. Whether buying or selling, do your research, plot your data points, use a variety of resources so that you’re confident in your list or offer price. – Garratt HasenstabThe Mountain Life Companies™

2. Don’t Reject Low-Priced Offers Without Negotiating 

Selling your home can feel like giving up something you love, so a low-priced offer can leave sellers feeling insulted. Homebuyers base their offer price largely on their own affordability, but will consider raising it if the location is just right or if there is value in renovations already done. Stay open to negotiations and working with the buyer rather than turning down a low-priced offer. – Beatrice de JongOpen Listings (YC W15)

3. Buy Whenever You Can 

There’s never a wrong time to buy. There is only a wrong time to sell. If you look at real estate trends over the last century, prices go up and down and we have booms and busts. The buyers who win are the ones willing to ride the wave, see a purchase through the cycle. Buy when you can, and hold till the sale is profitable. – Courtney PoulosACME Real Estate

4. Get Into The Rental Market Where It Makes Sense 

People will need shelter for the rest of their lives. With the life expectancy what it is here in the in the U.S., that’s a lot of rent to be paid. Buy what you need now and do it in an area where the population is on a rising and sustainable course. – Michael J. PolkPolk Properties

5. Factor In The Fees 

In real estate, there are middlemen and a lot of them — the escrow company, the title company, the brokers, the lender, etc. Each one of them is taking a drop from the well. While these fees will all likely go down, they aren’t ever going away and buyers and sellers need to accept that. – Ridaa MuradBREAKFORM | RE

6. Buy A Home To Secure Personal Rent Control 

Although the real estate market fluctuates over time, there’s one thing would-be first-time homeowners often overlook. Yes, there are tax advantages. Yes, you paint the walls any color you want. Yes, you build financial equity. But you also have a built-in rent control. With a fixed-rate mortgage, you’ll know what your house payment will be for the next 30 years — not so when you’re a renter. – Eileen LacerteHawaii Beach and Golf Properties

7. Always Invest Based On Location 

Regardless of the interest rate or transaction environment, good locations with strong demand and access to transportation infrastructure will continue to outperform in the long run. Location is certainly the evergreen factor telling you where to invest. Interest rates and transaction volumes are better indicators of when to invest. – Marc RutzenEnodo Inc

8. Find Trustworthy Partners In The Real Estate Process 

In an industry that is heavily commission-based, it is very important to find and work with trustworthy and genuine individuals who will have your best interest at heart over their own pocket. – Engelo RumoraList’n Sell Realty

9. Keep Your Home’s Condition Pristine If You’re Looking To Sell

Well-maintained houses always sell faster, even in a slow real estate market. Buyers appreciate houses that look move-in ready and are updated versus those that need a lot of work. In a hot real estate market, most houses sell quickly. But during a cooler market period, buyers can get very picky, so it will be the nicer ones that continue to sell. – Jeremy BrandtWe Buy Houses®

10. Be Selective And Don’t Be Afraid To Walk Away 

The old real estate adage is true: You make your money when you buy, not when you sell. By being selective about your real estate purchases and using larger amounts of cash in the transactions, you insulate yourself from the ebbs and flows of the market. Deals don’t always work, so do not be afraid to step away. Sometimes the best investment to protect principal is no investment at all. – Blake PlumleyCapital Pursuits LLC

11. Approach Negotiations From A Collaborative, Not Competitive, Standpoint 

It’s a mistake to go into real estate negotiations thinking that the other side is your adversary and to be fixated on a specific price. The goal should always be working together to come to an agreement that satisfies both parties. Digging in your heals can sabotage a negotiation. Take a step back and put yourself in their shoes. What’s a win-win for everyone? – Brad LeClimb Real Estate

12. Find An Experienced Local Real Estate Agent 

The internet has changed real estate forever. Home sellers and buyers can get more information about real estate than ever. But what they can’t get online and can only get from a local real estate agent, is that insider knowledge. That local “go-to” agent who is a neighborhood expert knows things about the homes and the community you just can’t Google. Their value will never change. – Lane Hornungzavvie

13. Remember That A Home’s True Value Is Determined By The Buyer 

No matter what the market conditions are, one aspect always remains the same — the true market value of a home is only equal to what a buyer is willing to pay. Just because a seller believes their home is worth a certain amount of money, it does not mean that the ask will be equal to what a buyer believes to be an appropriate “bid” price. – Matt PettinelliCapGrow Partners LLCForbes Real Estate Council is an invitation-only community for executives in the real estate industry. Do I qualify?

Forbes Real Estate Council is an invitation-only, fee-based organization for senior-level executives in the real estate industry.

About Jason Kok

Jason has been in the real estate business for over 20 years. He currently lives in Southern Iowa in a log cabin that overlooks Lake Sundown with his family which includes his wife and 5 children. Growing up in southern Wisconsin he developed an appreciation for the outdoors. This influences his career decision to sell land and provide others with the opportunity to live in a place they truly love. Jason deals with listings in Iowa, Wisconsin, and Minnesota with his main goal being to help you find a property that will stay in your family for many generations.

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