Overview. Being a buyer in today’s marketplace certainly isn’t easy. Too much demand and not enough supply of good quality housing stock, new or existing, in good locations makes for a very competitive marketplace.
Compounding the issue is the question of price. “What is the right price for the home I want,” is the primary question our buyer clients come to us with. In this case study we’ll discuss a family of four who needed more room, and wanted to stay in Brooklyn.
How do we get them on the inside track and comfortable enough to move forward with an offer when the time is right? Here’s how:
Step One. First, we helped them get properly positioned as a strong buyer by making sure they were both well capitalized (they had already sold their home and were renting in advance of making a move on a new home), and well educated. Even though they had been living in Brooklyn for a number of years, they weren’t up to speed on the current relative costs of different housing options – homes vs large condominiums – on a neighborhood by neighborhood basis.
Step Two. As we do with all of our buyer clients we spent a significant amount and time and energy looking at possible purchase options with them. Getting out there to experience buildings, blocks and neighborhoods is an integral part of the search process. While you can certainly see many listings on line today there is no substitute for seeing the property in person. We also discussed at length, and overtime, asking prices, pricing trends, the relative differences between new and existing product, quality of new construction, property condition and the cost of post acquisition improvements. In addition to acting as a broker we are an experienced owner, investor, developer, and advisor. Our depth of knowledge uniquely positions us to advise our buyer clients on the many facets of new and rehabilitated projects in a way that many agents cannot.
Step Three. This client was extremely patient — which is just fine as far as we’re concerned. We want our clients to be confident when it comes time to act. Our only agenda is making sure our client is satisfied. As inventory was generally scarce for the size home our client was in search of — a 3+ bedroom condominium — it took more than ordinary search venues to meet their needs. In addition to keeping them up to date on new listings we also tapped into our network of developers to see if there were opportunities in the pipeline for our client. One particular project matched up well with their needs as it related to amount of space, style, location and budget. Even though the project was 6 months away from being brought to market when we introduced it to our clients, they decided to wait for it.
Step Four. As the new project was being completed we kept our clients interest in front of the developer and his listing agent by being our clients tireless advocate. As soon as we could present an offer to the developer we did. The offer was a compelling one that was accepted by the seller. At Brennan we are well aware of the many challenges buyers face and we are here to help. This is just one story of many of how we helped a client find a home that met their needs in this competitive real state landscape. If you need help with your story let us know. We are ready to get to work for you.
“My wife and I spent several years bouncing between listing agents while trying to find a home to purchase in Brooklyn prior to approaching Donald to help guide our search as a buyer agent. Donald’s willingness to share his impressive knowledge across multiple facets of Brownstone Brooklyn real estate provided the unbiased advice we needed and valued. We highly recommend Brennan Realty Services to anyone looking for an advocate to help them purchase a home in Brownstone Brooklyn.
– Buyer Client, Clinton Hill, Brooklyn