Step 3 | Shop for Homes! | How to Buy a Home | Murrieta Ca

So you’re ready to start shopping for your new home?  Where do you start? Is there a way to make sure I don’t miss anything and don’t overpay?  There sure is, and I’m going to tell you all about it, and we are starting right now. 

Hi I’m Jessica Genung with Realty One Group Southwest.  My husband Chris and I are Realtors the Murrieta/Temecula Valley in Southern California.  

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In the first 2 steps of this series we learned how to hire a GREAT Realtor, and how to shop for a lender. 

Now you are ready to start the home search! Our mutual goal from Realtor to client is to help you find a great home, at the same time, make sure you don’t miss out on anything or pay too much.  We have implemented with our clients a process called the Funnel Process that helps us accomplish those goals.  Now I have to give to full credit where credit is due.  We didn’t just come up with this system-we were taught it by Larry Kendall who is a Broker out of Colorado and an awesome real estate professionals educator and trainer.  His methods have been highly tested and proven to result in happy clients.

So here is nifty the “Funnel”.  The idea of the funnel is after discussing what kind of property you are searching for, we put everything into the funnel that could possibly work.  Then we use the easy process of elimination, instead of the overwhelming process of selection to narrow it down.We keep our parameters very broad.  We don’t want to rule a 3 bedroom property with an office that might have worked, but we didn’t see it because we only put in 4 bedrooms to the search.  So into the funnel we go:

1.  First we put into the funnel any properties you’ve already seen that you are interested in.  Maybe you saw them online or driving around. 

2.  Next, we put in all the MLS properties that could possibly work.  It could be hundreds.  Also, we load in the home search function, so if a new listing comes on the market, we’ll get a notice and it will be automatically put into the funnel as well.

3. We also may want to put into the funnel New Construction homes.  Sometimes when inventory is low or we can find what you are looking for on the resale market, we might be able to find it in New Construction.

4. Homes that are listed For Sale By Owner.    If you see a For Sale by Owner home that looks interesting, we want you to feel comfortable discussing it with us.  The vast majority of the time, a For Sale By Owner is more than happy to work us.

5.  Foreclosures and short sales.  I started my career selling exclusively foreclosures, and am happy to help you navigate that process.  It’s not as complicated as some people think, but it is different than a traditional sale and there are some key points to understand. 

After all of these properties are in the funnel, we start eliminating ones that don’t work.  Some of them we simply look at online and the ones you like best we’ll drive by or make appointments to go inside. 

The goal is to narrow down the search to a rolling top three.  So if you have a top 3, and you find a home you like better than one in your current top three, you can substitute. 

After you have identified your top 3, I’ll do a comparative market analysis (CMA) showing you similar sold properties to help you get a feel for the fair market value.  This helps achieve the goal of not overpaying for property. 

The home buying process can be quite stressful but this process is designed to help you become clear and confident in your home buying decision. 

Thanks for watching our video and we hope you learned something.  If you want to see more videos like this one, don’t for get to subscribe.  Bye