Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked with Anna Mayer-Huls, a broker associate with @properties in Chicago, on her tips on how agents can prepare for higher interest rates.
4. Stay informed on current rates. We all know that rates can change on a daily basis, but it is helpful to check the rates on a weekly basis. Many mortgage brokers will send out weekly rate sheets so you have an idea how rates are trending.
3. Network with mortgage brokers and ask them to keep you in the loop if rates spike or drop dramatically. That may be the push some buyers need to make that offer.
2. Keep the current interest rates in mind when pricing a listing. If rates are trending at a higher rate than previous months, your seller may need to be a slightly more realistic in their list price to attract the most buyers.
1. Prepare your buyers. Make sure they have spoken with a mortgage professional before they get serious about their home search. Most times, the Realtor will be the first person the buyer meets, so it’s our job to set some expectations.
Anna Mayer-Huls is a broker associate with @properties in Chicago. An expert in Chicago’s Logan Square neighborhood, Anne works in all aspects of residential real estate and acts as a referral resource for her clients. Anna is also engaged in her community. A member of the Logan Square Chamber of Commerce, she also volunteers with Big Brothers Big Sisters, the Logan Square Dog Park Committee and Honor Flight Chicago. Anna is also the Director of the River North Chapter of the Dynamic Professional Women’s Network.