By Ben Levene
Licensed Real Estate Agent in Israel
CapitIL Real Estate Agency
A week in Jerusalem real estate is always interesting. I always write what I think and believe and I want to continue writing about pricing in a future issue.
The main lesson I have learned this week is educating clients — giving my clients the knowledge to buy, whether that’s the first house they see or the fiftieth.
I have had a client for a year. With every viewing, the client has learned something else about his needs. The client always said he would buy but only when he thought the deal was right. I took him at face value and made sure that through the process he was understanding his needs and requirements. I am extremely pleased that I might well have helped one of the nicest young families I have recently met. After three weeks of very hard negotiations, we are now at the contract stage and the client feels he is near the end of his process — as he said, when you know you know!
Good starting points are:
- Only work with a broker who relates to your needs.
- Do not let anyone pressure you if you are not ready to buy.
- Learn from each time you view a property.
Jerusalem is an expensive place (with prices similar to Manhattan). Therefore, you must try and buy from a place of strength—not need. No one should be pressured into a quick purchase. It is so important to understand the deal you are investing in and the price you are buying at.
All the time in my business, clients come to me after feeing too pressured. Clients often apologize to me. I ask what for and they say for not being ready to buy and seeing lots of apartments. I always reply, “How else are you meant to find what you want to buy?”
This isn’t saying you should hang around and not proceed if you know it’s right. But act with caution in what is as close to a buyers’ market as I have seen in a number of years.
CapitIL is located on King David Street in Jerusalem. Email email@example.com, call 646-781-7745, or visit CapitIL.com to learn more.