In this recent real-estate advice video from Nick Fong, he talks about the possible coming recession and how it might affect the housing market in Baja California Sur. He’s the broker and founder of Ronival Real Estate, which he has grown to be the top brokerage throughout Mexico. Nick enjoys sharing his immense experience and knowledge that he’s gained over the last two decades.
Nick is regularly asked questions by his clients about how this possible coming recession might affect the housing market in Baja California Sur. As such, he decided to record a video to provide his take on this negative economic forecast. Therefore, continue reading to learn more.
What Dave Ramsey has to say
In the video, Nick Fong says that Dave Ramsey got it totally correct. He says that Dave Ramsey began by defining a recession. In Dave’s definition, a recession must consist of two consecutive quarters of a down market. Of course, that certainly doesn’t mean the real estate market will crash. Also, Nick says that this time, it will not crash..
There may be a slowing market, but that isn’t a problem at all. The housing market in Baja California Sur has been quite hot over the last year. This has been the case since soon after the pandemic began. As such, prices will still increase, just not at the super fast pace they have been lately. In other words, the real estate market will still thrive – it’s still a great time to buy.
Protect your buyer while closing a sale
When your client wishes to purchase a pre-construction property, you should make a special provision. This is especially true when you don’t know the developer or even the listing agent for the property. What do you do? Nick’s recommendation is to write up the offer for your client first. Then, make a special provision. To explain, allow 15 days or so for a licensed real estate attorney to review the paperwork.
Once the licensed real estate attorney has received the paperwork for the offer, they can make any needed changes to its content, or the sales contract. Going forward, you will be able to write a new sales contract that is bilingual to protect your buyer. This works very well when it’s a new construction property or a pre-construction property when you’re representing the client.
Dealing with buyers who use multiple agents
As the heading reveals, one of the most annoying situations you’ll deal with in real estate is dealing with buyers who use multiple agents at the same time. When this happens, what do you do? As Nick explains in the video, start by asking them if they’re working with another real estate agent. And if they say yes, convince them to only work with you.
In order to gain their undivided attention, you must reveal your unique selling propositions. Prove to them you can find properties that are better suited to their budget, wants, and needs. Then, show them how you can better negotiate with the seller to achieve the best price. Tell them how you work with more buyers allowing for more options. Finally, inform them that you work for one of the best real estate companies in your region.
Since previous buyer feedback is quite important, make sure they see those. Whether on your website or on paper, present feedback from buyers who found exactly what they were looking for through you. And by showing their names and original comments, buyer confidence will grown and you will become their exclusive real estate agent.
Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions You can also schedule a time to show you around this breathtaking location.
Ronival on YouTube
See Nick Fong in action on his Ronival YouTube Channel. Find his videos on the Rovival VLOG, where you can read a short, yet in-depth post. Below is an example of one of Nick Fong’s Ronival videos:
Thank you for reading Uncover how the recession affecting the housing market from Nick Fong. Be sure to read other posts about Cabo and Baja California Sur on the Ronival blog. There, learn about the many wonderful aspects of Baja California Sur, Mexico, from blog posts like this.