Many homeowners today are indecisive on whether to buy and sell now or wait it out. Waiting on the sidelines, hoping that either prices or rates will have a significant drop, is always an option. However, that can take months to happen and may not be a viable option, depending on whether you have the luxury of time.

Firstly, review your finances in detail to determine if you can afford to buy what you want now, factoring in all housing-related costs and closing costs. Look at recent comparable sales where you currently live and where you want to buy.

Reasons to wait could be if home values in your area are dropping, and/or inventory is increasing considerably; if your finances are tight; if you are expecting a sizable bonus or inheritance soon that could help with your down payment; or if you want to pay off debts to qualify for loans with better terms.

Ultimately, life goes on, whether the timing of a move is perfect or not. If rates drop significantly after you buy, you can always look at refinancing later.

Your REALTOR® is the key person on your team when you’re buying and/or selling a property. For most people, this is their largest financial investment. So, before choosing a REALTOR®, you need to do your due diligence so you can find the one who is best suited for you. You want someone who is:

• Experienced and knowledgeable about your local market and up-to-date on recent sales. They should be able to give you all the information you need, so you can price your home strategically or make a strong offer.

• Is a great communicator, meaning that they respond promptly to your calls and emails, provide updates, and explain anything that may be confusing to you about the buying and selling process.

• Puts in effort by actively searching for properties that meet your criteria and negotiating on your behalf to get the best possible deal.

• Honest about challenges and opportunities, doesn’t hide information or make decisions without your consent.

Once you’ve short-listed some REALTORS®, here are some suggestions for the next steps:

• Read their online reviews and ask them for references.

• Ask them about their experience, how they would market your home, and the strategies they would use to help you find your new home.

• Talk about your goals, timelines, and expectations for communication (e.g., regular updates and quick calls for new developments) to see if you are aligned.

By doing your due diligence before you hire a REALTOR®, you are helping to ensure your home buying and selling experience goes as smoothly as possible.