Now that the Heat are back in action, our thoughts turn to basketball, and of course, real estate. What does basketball have to do with real estate, you ask? Well, just like the Heat, which boasts the best players in the business – LeBron, D-Wade and Bosch – in real estate, you are both the owner and the manager, and will need to assemble your very own dream team:
Your Realtor, or Team Captain, looks for openings and opportunities to score. Your Realtor can be the star of the team, the lead of the offense, putting the most points on the board, but only with the help of the rest of the team. The Team Captain ensures that all the other players are on the “A Game”, and that only the best are brought out to play.
If you’re paying cash for your deal, this is one player you might want to keep on the bench, or you may use them in the future (if you decide to finance after your deal is closed). However, for most teams, the mortgage broker is an important part of the offense – your pre-qual letter, provided by a mortgage broker, provides a much-needed assist to your star player… your Realtor.
An important player who is both offense and defense is your insurance broker. They help you go in to the game prepared for anything that can come up, guard you from unexpected drives, and also can help your star player score. They also work closely with your MVPs (see below).
While the Realtor is the star of the offense, the Inspectors are the MVPs for the defense. They can block the opposing team from running up the score against you pulling out some expected and unexpected moves that may or may not change the course of the game.
Appraisers are like referees, ensuring that the deal is fair for both parties. When they make a bad call, it can set back either team, but for the most part they play an important role in making sure all the rules of the game are followed. And just like Refs, you can’t talk back! You never know who you are going to have as a Ref but you hope they’ve done all their due diligence before making their final call; as they can truly be a game changer.
The Closing Agent or Attorney
Another member of the dream team is the one who can get you a slam dunk and close the deal – your Closing Agent or Attorney. They oversee and confirm that all the other players are doing their job so that they are able to come in and lead the “clear” path to victory.