All Forum Posts by: Nick Thomas

@James McGovern A good agent does much more. They prep the home prior to listing, Market throughout and manage the process so you don't have to, and once offers come in they negotiate to get you the best ROI. Then they work to make sure everything is done so there are no surprises at closing.

During covid houses were all selling easily. Now you need an expert to get the best ROI in the changed market.

@Heidi Thompson glad to hear you’re getting started! I would say the area you want to invest in will determine if you have enough saved up. Where are you looking to buy?

@Aditya Bhate Great question! The seller agreed upon a commission amount with the listing agent. They also agree how much of that total commission will be offered to the buyer’s agent.

The buyers have a separate agreement with their agent saying how much commission they are obligated to pay. The buyers would only owe money if the property they purchase is offering the buyer’s agent less than the agreed upon amount.

For example-

A buyer has an agreement with an agent to pay 2.5% commission, but the property they ratify on is only offering 2% commission. The buyer’s agent could require the buyer pays them the .5% out of pocket. When I’m working with clients I make them aware of this before offering and I’m also willing to work with my buyer to make sure it’s a win-win.

Hope this helps!

@Eric Gorostiza

Welcome to BP and congrats on being in the process of buying your first property! Are you planning to live in the property at first or immediately begin renting it out?

@Kevin Galang Hey Kevin! I’m a local agent in Loudoun and the market will likely heat up more in mid January. People are always interested in investing, but with current interest rates it might be difficult for people to cashflow. If you’re open to creative financing or if your tenants are able to find another place to go you’ll have an easier time.

Feel free to reach out to me if you’d like more info!

@Wade Cecil Option 2 would be the obvious choice for a bachelor. But you aren’t a bachelor and even though it’s a great financial move I know my wife would kill me if I moved her into a place like that unless it’s very temporary.

It really depends how comfortable your family is with being uncomfortable. No financial win is worth a family loss in my opinion.

@Alicia Marks it would probably make sense to connect with an agent who is already living over there so they can give you guidance.

@Joshua Leal If you plan to stay in this home for a few years then I think buying now would be your best option. I think housing prices will continue to rise and you can purchase a home with much less competition than we were seeing previously and build some equity for yourself. You will also have the option to refinance in the future for a lower rate.

If the area you are buying in has historically high appreciation rates that’s a plus. When I say historically I mean prior to the pandemic.

@Jin Lim wish I could have made it out! See you in July if you have one!

@Tanya Ansari

@Adrienne Green might be able to help you out!