Realtors Make Buying a Home Less Formidable
Getting into the real estate market can be exciting and stressful at the same time, particularly for first time buyers. This is where a real estate agent can help. There is so much legal paperwork and other essential items to take care of that it makes no sense to go it alone. Buying a home is a complex legal transaction.
So where do you go to find a reputable real estate agent? One way is to talk to people you know who have bought homes and see who they used, get their opinions. Another is to look at for sale signs in a neighborhood you are interested in and find out who is doing the listing. Once you find an agent, schedule a meeting so you can get a feel for each other.
That initial meeting is important. Both sides should be asking questions. The realtor is there to find out your expectations. You should be there to assess the agent, perhaps ask for references. As you go through the process, a good realtor will keep asking questions to further narrow your expectations. But it is at this initial meeting that an agent will verbally walk you through the process from beginning to end.
Many first-time buyers have no idea that the search for a home is a free service. It isn’t until a sale is completed that the real estate agent gets paid. The commission is coming from the property lister, and yes the buyer does pay for the service indirectly, as part of the property price, but there is no time limit on the actual search.
If you have been pre-approved for a mortgage then the entire process will be easier for you and the agent. This gives you a chance to do some mortgage comparison shopping while not having to worry about a closing date. It also lets you know up front how much you can afford and avoids the realtor suggesting properties that are out of your reach. That saves time and avoids unnecessary frustration on both sides.