3 Things To Think About Before Buying or Selling Real Estate

Real estate. Most of us will interact with it at some point in our lives. Whether it’s getting on the housing ladder, investing in a rental property, or relocating to a new area, getting it right is vital to maximizing your money.

Similarly, we often view finding a real estate agent as a formality—they’re all the same, right? Scottsdale realtor Eric Tont thinks otherwise. How you choose your realtor, the timing of your transaction, and grasping the value at stake are crucial for any purchase or sale.

Tont, a partner at Dwellings Realty Group, recently was named on Scottsdale Area Association of Realtors’ 40 Under 40 list for 2023 for his success and leadership. “I have helped hundreds of Phoenix locals buy and sell homes, but over the last few years, we have seen a major uptick in out-of-state investors who are buying homes for the purpose of owning a long or short-term rental property.  Scottsdale is one of the top short-term rental markets in the country, and the cash flow on these homes is amazing – but an additional upside for many of these out-of-state investors is being able to visit and use it as a vacation home of their own,” the Scottsdale real estate agent says. “As one of the fastest growing cities in the country, we’ve also helped many clients relocate to the Phoenix area full-time. Moving across the country to another state is a huge undertaking, and I enjoy being a trusted resource for them here in Arizona.”

Whether you’re preparing an Airbnb side hustle or thinking of settling in the Scottsdale area, here are Eric Tont’s top things to consider before you sign the dotted line:

1. Schedule Is Subjective

When you Google ‘selling a property,’ you’ll likely find a thousand articles telling you exactly when to put your home up for sale. Usually, they’ll predict a market crash or claim there’s a better investment elsewhere. But the reality is, if you don’t feel ready to sell, you shouldn’t, no matter what the headlines say.

“Make sure the timing is right for you,” the Scottsdale realtor emphasizes. “Often, the media can influence someone’s decision to buy or sell a home when everyone’s financial situation differs. Don’t just listen to the noise. Make sure you are making sound decisions based on your situation.”

Ensuring your finances are secure is a large factor when buying, selling, or investing in real estate; however, it is important to analyze the market conditions as well.  For example, the Phoenix area has been dealing with an extreme shortage of homes for sale.  This has contributed to homes selling quickly, and home values are once again on the rise in the sprawling desert city over the last six months, even in the higher interest rate environment. 

Be sure to take into account both your personal financial situation and your local market conditions when deciding if buying or selling is right for you.

2. Realize The Rewards

It seems obvious, but when people are increasingly looking to unconventional investments, such as wine or crypto, recognizing the opportunities in property could be life-changing. Yes, most have to deal in real estate at some point, but actively treating it as a source of income will help you grasp its utility and profits.

“Real estate has proven throughout history to be one of the best places to spend your hard-earned money,” Tont states. “What other asset doubles in value every 20 years on average, while allowing you to live there or rent it to others as a source of income? It doesn’t exist!”

Identifying opportunities in an area like Scottsdale could help turn your finances into prospering investments. If the property means a lot to you, you could keep it as a place to stay when you need to get away.

3. Research Your Realtor

This tip is the one Tont feels most passionately about: understanding the importance of your realtor. Some agents will barely speak to you, whereas others will constantly advise and update you on the deal’s progress. The most sought-after realtors use cutting-edge methods to guarantee the best value for money.

“Real estate is certainly one of the best investment opportunities out there, but it is also one of the most expensive,” he explains. “Be sure to vet the agent handling your future transaction before buying or selling your home. You should ensure the person guiding you throughout the process knows what they are doing and will work hard for you the whole way.”

Research can be as short as vetting their customer service or as extensive as checking out their previous clients. For example, Dwellings Realty Group has a track record of over 2,000 real estate transactions and roughly a half billion dollars in sales volume throughout Greater Phoenix. The realtor you choose should know your real estate market inside out to get you the best bang for your buck.

When deciding on someone to handle a purchase or sale, there are two key factors: attentiveness and knowledge. Consistent communication will help you make the right decision, while using innovative methods could increase your sale price with little effort or expenditure. Marketing begins the second you decide to put your home on the market – and a forward-thinking realtor can make it attract higher offers.

Your realtor influences every step of your transaction. Get an effective one, time it right, and seize all the opportunities that real estate has to offer.