#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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