Let’s think this through when searching for a home. This applies to anyone searching for a home with or without a real estate agent. Follow this method of searching and you will have more homes to choose from. Why eliminate properties in your price range without knowing they exist?
For reference purposes I created a broad search. Obviously when searching for a home you will narrow it down more with more specifics.
Let’s say as a “Buyer” you either qualify or are looking for homes in the low to mid $300,000. You or your agent may search for homes $300,000 – $350,000. If you’re agent creates a “search portal” in the range of $300,000 – $350,000, or if you do your own searching with those criteria, you will be missing out on more homes.
In the broad search that I conducted through the MLS, I used the following criteria.
- Active listings only
- Price Range
- 300k – 350k = 198 total properties
- 299k – 350k = 219 total properties
The search results speak for themselves. Many real estate agents still like to use the 99 “advertising” method. That’s another discussion. Keeping that in mind, simply by reducing your search by $1,000 from 30ok to 299k, will result in possibly more than 10% more properties. Those 10% properties just might be the home you were hoping for.
Bottom line, think smart when searching for homes. If you are working with a real estate agent, communicate with him/her on how your search portal is created. I bring this up because many people don’t set their searches up saying, “let’s search 299k-300k. Most would round up to 300k-350k.
Hopefully you find this helpful.