After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I have had the pleasure of helping, homeowners, sell their homes, and potential homebuyers, purchase theirs. One of the principal reasons, one’s choice, of which real estate professional, to hire, to represent them, is significant, and meaningful, is, quality agents, offer, the necessary, and needed degree, of, constructive reasoning/ ideas, emotional support, experience/ expertise (in many relevant areas, such as listing price, staging, marketing plan, etc), and to hold – their – hands, when it might, be needed, during the often – stressful, transaction process! While there are many factors, involved, this article will attempt to briefly, consider, examine, review, and discuss, using the mnemonic approach, how MINTS, effect potential, and actual, sales.
1. Mortgage availability, ease, and qualifying: The greatest percentage of those, who purchase, a house, depend on a mortgage, for part of the necessary funding. Before, one, should proceed, to go, house – hunting, he should ensure, he wull qualify, for the best possible, mortgage, and terms, by addressing his credit, debt, and financial reserves, needed, to satisfy, a lender. Depending, upon an economy, availability of these vehicles, might differ, and the overall ease, of the process, often, depends, on using the best possible, mortgage banker, or broker, to reduce potential stresses, etc.
2. Interest rate; interest (buyer/ seller): We are currently, experiencing, historically – low, mortgage interest rates, which translates, to being able, to buy, more house, for one’s funds. It also, however, often, creates a buyers market, because, more sellers become interested, in buying a home, of their own! One’s clients, need to know, and understand, the advantages and disadvantages of, either, a buyers, and/ or, sellers market!
3. Needs; niche: Great agents discuss their clients needs, and priorities, in = advance, in order to understand, which houses, might make the most sense, for the buyer! An agent should identify, for his client, which houses, may fit into a particular niche, whether, he is representing, either, the homeowner, or buyer, as his client!
4. Trends; taxes; time: Have that discussion, with a client, in terms of the current trends, and, what many buyers, may be looking for! Factor into any consideration, the impacts, and effects, of real estate taxes, on the overall process! To ease the process, thoroughly discuss, the approximate, timeline, and, how much time, might be needed, for each component of the transaction process!
5. Strengths; solutions; system; sales plan/ selling: Objectively, identify, the strengths, and weaknesses, of your client’s home, and how, it might, affect, getting it sold! What night be a solution, to certain challenges, such as staging, enhancing curb – appeal, etc? Discuss, thoroughly, the marketing, and sales system, the specifics of the plan, and expectations, contingencies, and other factors, which may have an impact, on selling the house!
When you know, understand, address, and use, the MINTS, the process, is usually eased, and the results, are improved! When homeowner, and professional, work together, as a team, the process becomes far less stressful, etc!