By: Maria Williams

In the ever-evolving real estate landscape, adaptability is your friend. Expecting a flawless transaction in such a dynamic market is optimistic but not out of reach.

However, this unpredictability shouldn’t deter investors or those aiming to buy or sell property. After all, real estate remains one of the solid investments one can make, and the unique nature of each transaction underscores the importance of finding the right realtor to guide you.

Leveraging a deep connection with the local investment community and a keen eye for off-market gems, Terry Cockrum’s portfolio demonstrates her ability to navigate a variety of scenarios. As the Owner of Cockrum Realty, Brokered by Better Homes and Garden Real Estate Alliance in Wichita, Kansas, she has done everything from managing 1031 exchanges to supporting clients through personal transitions such as divorce.

Moreover, Terry’s personal investment in properties, including rentals, new builds, and flips, gives her a distinct perspective on the market, enriching her clients’ experiences with insights from a seasoned investor.

“I understand what’s selling in the market and what buyers are looking for,” the experienced real estate professional says. “In the early days, I would do a lot of the work, from sheetrock and tiling to hanging doors. I’ve pretty much built a house, so I get the whole picture, and it’s easy for me to explain what’s important to people.”

Now, she weighs in on the current market and what buyers and sellers could be doing wrong. There are opportunities amid uncertainty, and nailing every step of the real estate process could keep you ahead of the crowd and maximize your returns. Here are some tips buyers and sellers can’t afford to overlook:

Assess All Avenues

However invested you might be in a property, there are always other options. You might jump at the chance to buy your dream house because you can technically afford it, but remember the budgetary constraints sustaining it could put on your future life.

The reality is that real estate is a balance, and any property you buy should fit within your lifestyle. Seeking a Wichita, Kansas, real estate agent who recognizes that reality, instead of eagerly waiting for you to sign the dotted line, is vital for you and your family to live a prosperous life long after your purchase.

“I take buyers to properties that have the things they want,” Terry explains. “Then, I run the numbers and give them an alternative.”

The Owner of Cockrum Realty has dealt with every type of client and property across seven years as a Wichita, Kansas, real estate agent and many more as an investor. By understanding a buyer’s needs, she can point them toward a better-value investment, ultimately leaving the choice in their hands.

Do the Hard Work

It feels like we all have less time than ever. While skills, techniques, and tidbits are accessible online, doing up a house while working a job can feel like an impossibility. There’s a temptation to put it on the market and take the convenient offer.

However, there is tremendous value in giving buyers what they want. Like you, they prefer the  effortless ride to the finish line without compromising their time—so putting a little work in can go a long way.

“Sellers don’t want to fix anything up,” Terry illustrates. “And many buyers can’t afford to have someone maintain the exterior of their home while they go to work. Getting those realities together is the challenge.”

Investigate Interest Rate Incentives

If you’ve seen the headlines recently, you might think there’s little reason to buy a home. But when there is a lack of demand, the market adapts—Terry Cockrum knows that from her years as an experienced real estate professional and investor in Wichita, Kansas. Before throwing in the towel, think like her and find another route to your dreams.

Zero-down payments and 3-2-1 buydown mortgages, where your interest rate is lower for the first three years, are among the options for buyers holding out for the market to improve. But, considering the exceptional circumstances of the last decade, you might be waiting a while—so biting the bullet is perfectly acceptable if you can make the numbers work.

“This is actually an average interest rate we’re in,” Terry explains. “Buyers have been used to the lower rate since their knowledge. 10% interest was a good rate when I was growing up.”

Higher interest rates reduce your buying power, but your purchase could prove more sustainable if they drop in the long term. 

There’s an obvious caveat here: properties are much less affordable than they used to be. However, Terry encourages her clients to stop dwelling on what could’ve been and focus on attaining their aspirations in the current marketplace. Her bespoke approach, catering to clients’ needs and signposting them to helpful contacts, is an effective solution in an unprecedented market environment.

So, while it’s easy to get lost in specifics, remember that your dreams may still be within reach; you just need to adapt your approach. Terry Cockrum’s philosophy thrives in the modern age because it’s both sensitive to the past and geared toward the future. By treating every transaction like a fresh slate and advocating the timeless potential of property investment, she ensures everyone gets a fair shot at their real estate goals.

Published by: Khy Talara