Understands your wants and needs.
And helps you be realistic about your real estate expectations.
The Louisville Real Estate Market is at a record high. A point worth belaboring. The value proposition of an agent is hinged on the 9 items discussed in yesterday’s blog post. The first place your real estate agent will bring tremendous value is setting expectations based on wants, needs and market conditions. Buying a home in most cases is the largest financial decision individuals and families make. Having a Real Estate professional who knows the homes for sale in the Louisville area is crucial. Real Estate is not a generic ‘one size fits all’ proposition. If you are looking for a $200,000 ranch home, there are different areas in and around Louisville supporting those homes.
Your real estate agent will help isolate your needs. Needs are the ‘must haves’ when buying a home. For my family, we decided we have to have a ranch home in a great school district. We would not budge on those things. Every buyer’s needs are different. Some people may need a condo because of travel, some may need to be located in specific areas, the number of bedrooms and bathrooms; these are all needs.
The want list is the feel-good part. Wanting hardwood over laminate or brick instead of siding are all important. They will never supersede your needs but they are important. Your wants create a balancing act with your needs. “I want brick but I have to have a 3-car garage.” Your Real Estate Agent will help match the wants and needs along with price.
This is the part of a Real Estate Agents job which takes nuanced care and a commitment to fiduciary responsibilities. The real estate professional must be honest and have a servant’s heart. It is likely your real estate agent must have to break the news of expectations not meeting current market conditions. In the Louisville real estate market, the average home is over $200, 000. Stated differently $200k does not buy very much house. The increase in home price has been steep, catching up with projected appreciation, which would have happened gradually if not for 2007 and 2012 market hits. Your real estate agent will spend time educating as well as directing you to the home matching your needs, wants, and expectations.