People say: “It takes a village to raise a child”. The realities of today’s life (two family incomes and such) have forced a family to lean on others (neighbors, relatives, teachers, etc.) to protect and teach our young people about culture, history and acceptable behaviors. Teams, because of their ability to provide specialized solutions to problems, have often proved to be more efficient deliverers of information.
In real estate today (maybe more than ever), it also takes a team. As with a basketball team, each member needs certain skill sets and proper coaching on how to weave the different skills into a cohesive unit to achieve the desired outcome. The evolution of how things work has created a necessity of excellent communication between all the players. The needs of buyers and sellers have developed an even broader need for new members of a great team.
A great working relationship between an agent and a loan officer is an obvious connection. Changing mortgage guidelines, appraisal challenges and qualification standards requires everyone working together. But, there are so many others whose expertise may be needed to properly advise today’s clients.
One of the reasons people buy a home is that they hear of the tax advantages. What really are they? How will the purchase affect my monthly cash flow? Should we adjust our exemptions with our employer? What about home repairs and depreciation? What about parents who gift money to their kids…is there a smart way to do it?
And for sellers, especially people who may not be buying a new home, what are the consequences of their sale? Capital Gains Tax? Can/should they consider “gifting” proceeds to relatives? Long term health care? Life Insurance? That leads to …
A Financial Planner
How does buying or selling real estate impact cash flow and long term savings and planning?
Divorce attorneys, estate attorneys, elder care attorneys and even bankruptcy attorneys have a role in many transactions these days. Choices made without their counsel can have very damaging repercussions.
Home Inspectors, Termite Companies and Home Improvement Contractors
These professionals protect customers from nightmares, or explain the costs associated with preventing or curing problems.
Making a decision to buy or sell a home has far reaching effects. To think your real estate agent or loan officer is an expert in everything is not prudent. However, aligning yourself with a professional who surrounds themselves with other professionals is extremely wise. Make sure the people you work with have a network of related experts that you can tap into. You need to be represented by a TEAM!