The Portland real estate market is currently considered to be very “hot”, to say the least. The current Portland real estate statistics might even surprise you with the fact that current available Portland homes for sale is at a rate of 1.8, meaning that if no new listings came on the market, the entire inventory of homes for sale in Portland
Given the low Portland real estate inventory and the escalating prices, many buyers consider looking at less that move-in ready condition homes and use the savings to do renovations on their new home. Updating a newly purchased home in Portland often entails new kitchen cabinets, a complete bathroom remodel, hardwood flooring, countertops and new carpeting just to name a few. But regardless of whether you are considering renovating a new home or looking for the perfect completed move-in property, picking the right Portland Realtor should include some thoughtful consideration.
Picking A Realtor – Buying Or Selling In Portland
“There are literally thousands of Oregon real estate agents in the state, so picking the right one can be challenging. Here are a few things that I suggest you consider when you are in the real estate market in Portland and surrounding suburbs.”
1 – Savvy Makes A Difference:
As mentioned previously, the Portland real estate market is crazy right now. In the Portland Metro area, homes are selling in less than 30 days and you need a Portland realtor that is familiar with the overall market as well as specific neighborhoods you are interested in. In the diverse Portland metropolitan area, different neighborhoods and suburbs like Beaverton and Lake Oswego all have different characteristics, nuances and home prices.
You need a Portland Realtor that not only has access to the right tools, but understands how to use them. Yes, the multiple listing service in Portland is helpful for real estate agents and their clients, but it goes well beyond that. Being able to effectively use tools that can drill down on specific home and market conditions at a deep level can mean the difference between your Portland agent getting you the home you really want or not. So it is really important to have a Portland real estate broker that has an understanding of the unique market in Portland, but more importantly can show that they have and can properly use more sophisticated real estate tools for you.
2 – Real Estate Seasonal and Market Expertise:
Right now, as soon as a new home comes on the market, existing buyers are going to immediately look at the house. Based on current Portland inventory, prices and market conditions, many home buyers have already been shopping for a new home for up to 6 months and sometimes have they have even been involved in making multiple offers and lost. Not only are you competing with these buyers that have been in the market for some time now, but you also have to contend with the additional NEW buyers that are now also in the market to purchase a Portland area home. Your real estate agent in Portland should be able to show you they understand these conditions and have experience as well as a plan to help you overcome them.
You want to find a real estate agent that understands the specific local market in Portland that you are buying or selling in and can show you that when you interview them. If the real estate agent you are considering is not familiar with a specific area, they may not be able to explain certain nuances in making offers, the area schools and other local neighborhood market conditions. All of these things can cost you money and more importantly time. Having a realtor that is savvy in your specific area, makes all the difference.
When we add seasonal home buying and selling issues in Portland, things get even more complicated. For example,
sellers are often more motivated in the poor weather months and home buyers need to buy at the moment they are looking and have a need. Most Portland buyers that are home shopping during cold, wet and windy months are far more motivated than Portland home buyers in months with better weather conditions. In other words, most people who are not really motivated to buy in the Portland market, tend to do their “looking” when the weather is nicer. Only highly motivated home buyers in Oregon want to brave our damp conditions in fall and winter. Who else would want to get in and out of cars to go through homes all day long in those conditions? Your agent should be able to show you that they have dealt with this before and understand this nuance very well!
3 – Personal Connection Tips The Scales:
Remember that buying a home tends to be the largest purchase you will ever make, which becomes a very personal and intense process where relationship is very important. You need to know that all realtors out there are not equal, so you will want to be comfortable with and also have considerable trust in the Portland Realtor you select.
Please understand that you have options when selecting a real estate agent for your home purchase or home listing in Portland. I always suggest that both home buyers and sellers interview multiple real estate agents in their specific Portland area before making such a big decision. You don’t have to go with the first or only Realtor you speak to!
At the end of the day personality and connection is the ultimate test. Ask yourself if the real estate agent you are considering is a good fit with you and your family. Does their personality match with your style and do you want to spend considerable time with this person during the weeks and months it may take to sell your home or find the perfect property you want to purchase.
The home buying process in Portland can be challenging with some very big decisions attached to it, so you want to be on the same page with the Portland agent you’re working with. You want to be sure that your real estate professional can show you that their clients interests are in fact their interests and that they put your needs first, by listening and understanding your specific real estate concerns. Finally, you want to be sure they know the market you are looking in and have a deep understanding and proven track record of understanding how to use the proper resources to obtain and utilize tools and information to assist you in finding or selling a home.
Happy house hunting!