Renting vs. buying
One of the issues you were have to deal with in real estate, both as a seller and a buyer, is the choice of whether to actually buy or to rent. A recent Fannie Mae study shows the current American perspective on the issue. According to the report, almost exactly half (51) of current homeowners and renters stated that the market had not crushed their enthusiasm to buy a home. However, there has been a major increase in the number of people who say they would rather rent their next home than buy: 33, up from 3 in January 2010. In addition, 59 of renters said their next move would be to another renting situation.When working with your prospective buyer, you should ask them about their expectations for the property, as well as their financial capabilities. Surprisingly, renting is not always the cheaper choice, as evidenced by a 2010 Trulia report. This study found that in some Florida and Arizona cities it is more affordable to buy a home than to rent.The New York Times Buy-Rent calculator (http://www.nytimes.com/interactive/business/buy-rent-calculator.html) offers one logical way for buyers to make their decisions. Simply have them enter their monthly rent, the proposed home price, the down payment, the mortgage rate, and the annual property taxes, and the calculator will determine how many years it will take to become more profitable to buy than to rent.Of course, sometimes logic doesn’t win outespecially if the buyer feels an immediate connection to the home. In such cases, the buyer may be more willing to consider other financial options. One of your jobs as a real estate broker is to work with the client and find out what their options are for making their dream home a reality. That’s why it’s important to attend a real estate school that will give you the right training to close the deal, while still satisfying every party.?