Very often when a potential buyer calls our office looking for more information on a particular property they are interested in, I find that some buyers don’t fully understand what the role of a REALTOR® is when it comes time for them to buy a home.
The following are some of the more frequently asked questions by buyers:
How much will it cost me to use a REALTOR® to help me buy a house?
Typically, a buyer does not pay any out of pocket expenses to use a REALTOR® to help them buy a house. Normally a REALTOR® is paid from the sellers proceeds and the agreement for the amount to be paid is pre-determined when the house is initially put on the market. There are exceptions to this but you should always make sure that your agent informs you of any expenses that you may ultimately incur prior to hiring them to represent you. Regardless of who pays, the REALTOR® working for you is ethically bound to work in your best interest.
How can I find out about new properties that become available that I might be interested in?
Once you begin working with a REALTOR® in helping you find that perfect home, the REALTOR® can set up parameters for the type of property you are looking for and schedule email alerts whenever a property that fit your parameter becomes available. If email updates are not an option for you as the client, then updates by phone, text or fax are certainly available.
Yes, you can most definitely still go. However, it is wise that you inform the agent at the Open House that you are working with a REALTOR®, otherwise it may become difficult to write a contract and negotiate in your best interest. Ideally, you should let your agent know what properties you plan to visit so that he/she can see what type of properties interest you the most and/or if there are any positives or negatives about the property that you should be aware of.
Will my agent try to sell me something?
No! A good buyers agent will never do that. Your relationship with your REALTOR® is based on ‘when’ you are ready to buy. That is when your agent will help you through the purchase process. It is not based on any idea that you have to buy ‘now’.
Can my buyers agent show me properties listed with other companies?
Yes. Your REALTOR® can show you and advise you on any property listed with any other company. If the property is located outside of your REALTORS® area of expertise they can collaborate with another agent that is familiar with that area.
What if I find a property on my own?
If you find a property that you like or are interested in, you should always contact your agent directly and not the agent that has the home listed for sale. If you contact the agent that has the home listed for sale you may risk some negotiating strengths that your own agent could have provided for you.
Is there a limit on the number of houses my REALTOR® will show me?
No. There is no limit on the number of properties your REALTOR® will show you nor is there a limit on the number of times you can view any one property. However, you need to be mindful of inconveniencing the sellers too much as this may cause them to be less agreeable when it comes to negotiations. It’s reasonable for a buyer to view a property 2 or 3 times before making an offer.
Yes! You can change your mind, and many buyers do, after you have already begun the home search process. Make sure that you communicate any of these changes to your REALTOR® so that they can check for any properties that may be available that will fit your criteria.
What do I need to provide to a REALTOR® when I first begin working with them?
You need to give as much information about the type of home you are looking for, remember you can always change your mind about what you want after you begin looking at homes.
You need to let the agent know if you have any timeline that you need to work within.
You need to begin the process for financing; your REALTOR® will help you get this started.
Always inform other agents that you are already being represented by a REALTOR®.
Communication is key!!!!!
The most important thing to do when you are considering buying a property is visit with your REALTOR®. Take the time to get to know one another. Ask lots of questions and inform your REALTOR® of your plans, both short-term and long-term.
The home buying experience can be a wonderful period in your life. We have developed many long time friendships with our buyer clients. Remember your buyers agent is in your corner and has your best interest at heart.
If you are thinking of buying a home, lot or land then please let us know. We can go through the home buying process with you and help you reach your dreams.