Seven Things You NEED Your Realtor to Do
What should I look for when hiring a Realtor to help me buy my home?This is a valid question and it deserves a proper answer. Before knowing how to find a quality Realtor, first it’s important to know why you need one in the first place. If you aren’t familiar with the home buying process, it can be tempting to assume that it’s a cakewalk. Simply go on a site like Redfin or Zillow, find the house you want, put an offer in and buy the house. Right? It turns out the process is a little more complicated. Having a quality Realtor can be extremely helpful when deciding on a home, and can make the entire process between the offer and closing go much more smoothly. Plus, the seller typically pays for the buyer agent, so you really have nothing to lose. So, what exactly does a real estate agent do, and what should you look for when searching for the right Realtor for you?
THEY GET TO KNOW YOU
A skilled agent will take the time to get to know you and help you figure out the house you really want. While many buyers think they know what they want, there are a large number of decisions to make throughout the process that can feel paralyzing when it comes time for the final decision to buy. Determining what is a necessity and what can be sacrificed can feel like a very difficult process. In addition, while everything for a house may look good on paper, there are many other factors that come into play that a buyer might not realize at first. Are there any repairs that will need to be made? What’s the zoning? What will the commute to work be like? What are the neighbors like? What will the heating costs be? The list goes on. As the saying goes, you don’t know what you don’t know, but hiring a Realtor who will ask you the right questions will help you avoid surprises when it comes time to buy.Often, first-time buyers have a wish list and a budget that do not agree. One of the two eventually has to budge and it usually isn’t the budget. This is the time when having a Realtor that will take the time to get to know your needs and interests even better than you do can be invaluable. Although sacrifices often have to be made, a good Realtor will help manage expectations and find the house you need at the price you can afford.
THEY HELP YOU KEEP YOUR BUDGET
Because Realtors are paid by commission, there is an automatic incentive to find buyers a home at the maximum price they can afford. For this reason, it is absolutely essential you find a real estate agent that has your best interests in mind. While most Realtors will keep their buyers interests in mind, there are those who will do everything they can to get the most money out of every deal. Buying a house is the biggest financial decision of your life, so having someone you know you can trust makes life a little less stressful as you manage your budget.
THEY DO RESEARCH AND THEN DO MORE RESEARCH
Realtors have access to the multiple listing service, a database that has all the background information for every house listed on the market. Having a Realtor who will not only do the research on every house you’re interested in, but will also take initiative to find you the perfect home can be very helpful. Knowing what to look for during a house tour is also a key skill that will help prevent any surprises after closing. A good Realtor will do research not only on the house, but also on the neighborhood, surrounding schools, local amenities, and many other aspects outside the property. This information can also be a powerful negotiating tool when writing an offer.
THEY SKILLFULLY NEGOTIATE
A Realtor with strong negotiation skills goes a long way in landing on the best price for the buyer. While listed prices are not firm, many sellers will simply throw away an offer if it is too low, so writing the right offer can take some finesse. In addition, knowing what can be negotiated into the sale (eg. who pays for what) can make a huge difference. When buyers and sellers disagree, having a skilled mediator who can make peace and give both sides what they want not only eases tension, but can be the determining factor in whether a deal closes. A sale agreement is not a competition or fight, but a team effort on both sides to make sure the deal closes and the buyer and seller get what they want. While approaching a transaction this way can’t settle every disagreement that may arise, it can definitely save you a lot of unnecessary headache.
THEY GET TO KNOW THE LOCAL MARKET
While some Realtors may try to buy and sell all over Oregon, it can be helpful to work with someone who is an expert in the specific areas he or she works in. Knowing neighborhoods, schools, churches, HOAs, city projects, zoning regulations, and many other market factors can make a difference when finding the right home. Knowing what the market is doing is also a major advantage when it comes to writing a good offer.
THEY ACTUALLY TAKE TIME TO EDUCATE YOU
While it’s important to have a Realtor who knows his or her stuff, it’s also important to have someone who is willing to teach you and include you in the process. No one likes being looked down on or working with a condescending person. Buying a house is a huge investment, so it’s good to know as much as possible about what you’re getting into. Having an agent who will help explain why he or she is making the recommendations he/she is will not only make the process more enjoyable but can also settle many disagreements before they even happen.
THEY ARE A CLEAR + CONSISTENT COMMUNICATOR
One of the most important aspects of any relationship is communication and the relationship with your Realtor is no different. While most agents probably won’t immediately answer questions asked at two in the morning, it’s good to make sure you get an agent who will be responsive and available. But communication is about more than just answering texts or emails in a timely manner. Good communication also includes being a good listener, staying open-minded, having empathy, being clear and concise, being open to feedback, and asking great questions.Ok, this was a bit of a long one, but there’s still so much to cover! What are some other skills or qualities you would want to see in your Realtor? Let me know in the comments!