Search, Negotiate, Transact Section Overview

"The most difficult thing in any negotiation is making sure that you strip it of the emotion and deal with the facts."

- Howard Baker

👋 Before you start this section...

‍A note from Pam Hughes, our co-founder & COO:

Buying a home can be both exhilarating and exasperating. I say this as a seasoned real estate and investment professional of several decades and someone who has purchased more personal homes than most people would over several lifetimes.

When buying a home, many folks simply dive into the deep end and take their chances. That can work. When it doesn’t, it can be a BIG problem. Co-buying increases the purchase complexity as there are more people to please. Going in with eyes wide open and willing to walk away from something that doesn’t pass your sniff test is wise. I hope that something in the following section speaks to you and will help you to have the patience and provide the direction you need to persevere until you discover the one.

Welcome to the third stage in the co-buying process: Navigate the Search, Negotiate, and Transact.

Description

The home search is the sexiest stage for many folks. But house porn is entertainment, and home-hunting is a major drop-off point for co-buyers. To clear this stage, you and your co-buyer(s) must be intentional about strategy and tactics.

Why It’s Important

Searching for homes online is simple. Navigating the home search process successfully takes more work. This phase can be divided into three parts: searching, negotiating, and transacting.

Overall, today’s home-buying process sucks. It’s inefficient, lacks transparency, and is poorly designed in terms of incentive alignment.

The multi-party aspect of co-buying adds logistical and practical challenges. Failures at this stage can kill progress altogether, add costs, or sow the seeds of problems that present months or years down the line.

What You’ll Learn

You’ll build a foundational knowledge of real estate transactions in a multi-party context. To develop a competitive edge as a co-buyer, you’ll cover:

• Real estate transaction basics
• Brokerages: their role, how they’re set up, and limitations
• How to choose the right real estate agent
• Searching using a systematic approach
• Negotiation strategy from a co-buyer’s perspective
• What to expect during the closing process

Outcomes

By the end of this section, you should be able to:

✅ Apply principles of economic theory to streamline your search process

✅ Select a kick-ass real estate agent

✅ Structure an efficient home search

✅ Avert common pitfalls during negotiations and closing

The knowledge you gain will help you generate competitive advantages and improve your bargaining power throughout this phase of the co-buying process.

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