Friday, May 27

How to ask your agent when buying a luxury home

We know that you have specific needs and wants when you’re looking to buy a luxury home. You are a picky buyer and you expect the same from your agent.

All buyers should be concerned about current market conditions and economic uncertainty. Low interest rates don’t have a significant impact on luxury home purchases, as luxury buyers either pay cash or can afford a higher monthly fee.

Luxury home buyers require guidance that goes beyond the conventional purchase.

These are the questions you should ask your agent before they help you with your next luxury home purchase.

1. What kind of experience have you had in the luxury home market

Buyers should look for a luxury real estate agent. It can be difficult to work with any agent because luxury purchases require a lot of knowledge about the local community.

Agents should also be up-to-date on the most recent information regarding off- and coming soon properties. It is important to have a good knowledge of the properties in question as high-end properties can only be shown by appointment. Many times, high-end properties prefer to work with similar agents.

2. Are there any properties you are aware of that are “off the market” or “pocket listed”?

It can be difficult to find luxury properties for many reasons. They are not usually listed on the multiple listing system (MLS). These properties are not usually advertised, as many luxury properties are sold through word-of mouth.

The majority of luxury homes are listed through the personal connections of a real agent. It is essential to find a qualified, full-time agent that knows the market and has experience in the market. This will allow them to offer insight about the area.

3. Do you think it is possible to sell a house solely on the basis of imagery?

Luxury home buyers are often very busy and may have difficulty finding the time to visit a home. I don’t recommend buying a home based on photos, brochures or video. Experiential agents know that luxury homes can easily be misrepresented or compromised by using only imagery.

Look for an agent who will take you beyond the photos.

4. Is the home correctly priced?

The price should be answered by your agent. It is important to determine if the property you are interested in purchasing is unique and/or if it has been purchased by someone else. Luxury buyers may be more concerned about price than others who are more focused on their needs. Bottom line: The agent must ensure that the property is correctly priced and has a high resale price.

5. Is there any future plan for this community?

Property and communities are subject to change. Examples of these changes include new commercial developments adjacent to existing roads, road expansions, and other less favorable changes. Some changes can be beneficial, but not all. Your clients might find it important to sell or buy plans for adding security or modifying a clubhouse, or building tennis courts. Some changes can be beneficial, but others could compromise the privacy of the home or reduce its resale price. This is why it is important to work with an agent who is familiar with the area.

This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for victoria park Fort Lauderdale homes for sale, we are the real estate team for you!

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