37 General Rules about Real Estate

37 General Rules about Real Estate

37 General Rules about Real Estate  Here are the first 37 General Rules about Real Estate. They make up the first chapter of the book, the warm-up rules that didn’t really fit in other rule categories.

The book – 365 Rules about Real Estate is coming together well. I have my publisher picked out and currently the book is out being professionally proof read. I hope they find all the mistakes.

I’m posting one rule a day on my blog, currently working through the 38 Rules about Buying Real Estate.

Coming up are rules about neighborhoods, rules about choosing a Realtor, rules about offers, rules about mortgages, rules about home inspections, rules about condos and new home construction, rules about moving, rules about getting ready to sell, rules about selling real estate, rules about open houses, rules about selling privately, rules about contractors and handymen, rules about attics, electrical, furnaces and air conditioners, fences, flooring, gardens and yards, home improvements and maintenance, bathrooms and kitchens, roofs and windows. My aim is to take the mystery and stress out of the home buying and selling process.


37 General Rules about Real Estate:

Rule #1: Rules are made to be broken.

Rule #2: Be rational, not emotional.

Rule #3: The value of a house is set by the homebuyer.

Rule #4: Location and neighbourhood affects the value of your home.

Rule #5: Condition of house and property affects the value of your home.

Rule #6: The economy affects the value of your home.

Rule #7: Real estate is local.

Rule #8: Statistics lie.

Rule #9: Appliances cost about the same today as they did in the 1950‘s.

Rule #10: The price always goes up.

Rule #11: Maximum exposure for your house is what you are getting when it’s listed on MLS.

Rule #12: Buyers are liars.

Rule #13: Sellers are story tellers.

Rule #14: The Brokerage owns the listings.

Rule #15: The houses you see for sale in real estate magazines are already sold.

Rule #16: The houses advertised on Realtors’ websites are not necessarily the Realtors’ listings.

Rule #17: You can’t buy a home on the Internet.

Rule #18: It’s easier to buy than to sell.

Rule #19: The market is always changing.

Rule #20: You can’t wait until you know everything.

Rule #21: Doing nothing sends a message.

Rule #22: A house new on the market might not be so new on the market.

Rule #23: Predictions are often wrong.

Rule #24: If you want to be trusted, be honest.

Rule #25: The best houses, priced right sell fast.

Rule #26: It’s expensive to move.

Rule #27: It’s okay to pay too much for a house

Rule #28: Make money when you buy.

Rule #29: Buying a house is a process of elimination

Rule #30: Houses that remain on the market for a long time become stigmatized

Rule #31: Divorce or family crisis does not always lead to lower priced real estate.

Rule #32: You may find your next home before your Realtor does.

Rule #33: Plan the work, then work the plan.

Rule #34: Offers should be based on market value not on what the buyer can afford.

Rule #35: House prices should be based on market value, not what the seller needs.

Rule #36: Look for direct and factual answers to your questions.

Rule #37: You should not think about your house as an income generating, wealth creating vehicle.


Email me here for more information about the book or if you’d like to talk to me about your real estate needs.

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