Love, your Money - Wealth, Money, and Financial Advisor for Women EP 98: How You Can Make a Profit Buying and Selling Real Estate
We all know that real estate is a worthy investment, and on your path to financial freedom, you will likely enter into the complex process of selling or buying a home. When it comes to real estate, knowledge is power. That being said, very few sellers or buyers are actually doing their homework. We are also battling cognitive biases that will lead us down a dangerous path if we aren’t careful. That is why I am so glad to have my guest, Aaron Hendon on the show today. Aaron is an award-winning, Seattle-based Realtor who is on a mission to educate buyers about the real estate process. His book, Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying Or Selling Their Home outlines the common pitfalls we tend to fall into when buying and selling real estate.
You need to understand the transaction process in order to make the most out of real estate. When you think about choosing a Realtor, do you think about interviewing them as you would when hiring an employee? How do you know if your agent has your interests in mind? Is there such a thing as a discount broker? Aaron will answer these questions while busting a few real estate myths in today's informative episode. We will discuss the ways you can become a savvy home buyer and a confident home seller. A home is an enormous investment, and like all financial decisions, you want to be informed before you make your choice. Aaron is going to ensure that all ProfitBoss listeners stop making common real estate mistakes so they can start investing wisely.
What you will learn:
• Aaron is not trying to become a behavioral economist, but understanding the choices we make is still very important.
• How to understand cognitive bias.
• Aaron will teach you how to interview a Realtor.
• What you should do first when you want to sell your home.
• Why it is important to verify information your Realtors give you.
• How to think about the costs of selling a house and the merits of using an agent.
• The buyer is paying for the commission.
• It is critical to set the price of the home without the emotional weight of history.
• Aaron teaches us how to evaluate markets to compare the pricing of your house.
• How to consider all kinds of offers and how a good Realtor helps you navigate them.
• Understanding the asymmetry of information in the deal.
Links Mentioned
https://www.rationalrealestate.pro/book
Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.