#13 Choosing the Right Realtor
This
very important relationship is one where compatibility is key. In some ways, the Licensed, Residential Real
Estate Agent you choose to work
with almost has to be part friend, part mind reader and part expert!
If
you have not already selected a Residential
Realtor, it’s smart to start with some simple research. It’s possible a friend has had a great and
successful relationship with a Residential
Realtor they can recommend. That’s
one option. Your Mortgage Loan
Agent probably knows realtors that fit the profile of your particular home
search. Referrals from professionals you
already trust are good to explore. Or, you may have observed or read about a
Residential Realtor or Real Estate Brokerage that interests you. In that case,
go introduce yourself and interview candidates that handle the kinds of
residential property you are interested in.
See if your personalities click!
That’s another option.
Most
of all, take the time it takes to select an association that you feel
“fits.” You will be spending a lot time
with your Residential Real Estate Agent. Much of that time will be spent discussing
the details of your choices and preferences.
A home is an extremely personal and private environment, and you will
want to work with an agent who listens well, gets along with all decision
makers and who enjoys their work!
Keep
in mind that your Pre-approval is valid for 120 days!
Before
you begin the search with the Residential Real Estate agent of your choice, develop some ground rules concerning time
and communication. Familiarize your
agent with your schedules, and the best time frames for viewing property. It will help efficiency if your agent can
make commitments that will work comfortably and dependably for all three
participators: you, the agent and the property seller.
Some real estate
agents may ask to see your Pre-approval documents, or you may choose
to provide the information that validates the price range you can afford. (Looking at properties that you do not
qualify to buy is just wasting that agent’s time with pie-in-the-sky.)
In
selecting and beginning to work with your Residential Real Estate agent, you
are adding
another member to the team that is helping you succeed in buying a
home. It’s wise to connect your loan
expert with your real estate expert; sometimes, tricky questions come up and
need clarification. (Is that Solar
system owned by the seller and is it in the purchase price, or is it leased and
is a separate expense; and how would that situation impact your Pre-approval financing
limit!)
Both
of your experts together have more experience in the exchange and financing of
residential property than you do – especially if your experience is 0! Take advantage of their insights, advice and
guidance. Combined, they have probably seen it all!
Adding
the new layer of a trusted Real Estate agent who exclusively handles Residential
properties is a giant step. If
you are a first time home buyer you have an additional advantage and
benefit. You can learn a lot about the
process that will be useful in the future.
With two relevant experts assisting you, don’t hesitate to ask any
questions that might inspire as well as clarify future
possibilities. Families expand, needs
change and understanding the potential in your prospective purchase is important.
Are
you looking at properties in developing areas, or in established neighborhoods
where change is unlikely? Does your
realtor see predictable, future increase in property value? Do you already know that this first purchase
is an investment you fully intend as a first step? Or, do you want a property where you intend
to be for 20 years, intend to make improvements, want slow value increase then
intend to sell at excellent profit?
Your long-term
plans are just important to your Mortgage Loan Officer and your Residential
Real Estate agent as your short term needs.
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