Are you thinking of buying a home? Are you dreading having to walk through strangers' houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge, just like a great doctor or great accountant.
You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish an average agent from a great one.
Here are the top 4 demands to make of your real estate agent when buying a home:
1. Tell the Truth About the Price
When making an offer on the home you want to buy, make sure that your agent walks you through their plan for getting both the seller - and the bank - to accept that price. Too many agents will just take the offer that you suggest and then try to 'work' both you and the seller in the negotiating phase later. In a competitive market, you need an agent who is going to help you make the best 'initial offer' so that you stand out from the crowd. Every house in today's market must be sold twice - first to you and then to your bank.
The second sale may be more difficult than the first. When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.
2. Understand the Timetable with Which Your Family is Dealing
You will be moving your family into a new home. Whether the move revolves around the start of the new school year or a new job, you will be trying to put the move to a plan.
This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can to make it work.