To make sure you’re prepared to succeed with your home purchase, you need to do these two things:
- First, make an assessment your personal finances and get your financing in order. A financial advisor can help you understand your cash needs and long-term objectives. Then, talk to a mortgage broker early and obtain a pre-approval letter with a direct lender. Keep it current. Sellers prefer offers with accompanying proof of funds and financing.
- Second, get yourself a good Realtor. In the past, some frustrated buyers who had poor experiences during the boom days with inexperienced agents stayed away from all Realtos; they’re doing themselves a disservice. In today’s competitive market environment, a skilled buyer’s agent is your main competitive edge, helping you to navigate a rapidly shifting market place and giving you a fighting chance to get the home you want this year.
Here are some tips on what to look for in a good Realtor..
1. An effective communicator:
One of the top complaints from buyers is a non-responsive Realtor, and deservedly so. Real estate is a people business. When it comes to winning deals, your Realtor needs excellent communication skills and responsiveness with all parties involved. To save yourself headaches and frustration, find a Realtor who really speaks to you from the get-go. This is not just about speaking the same language. It means an agent who adapts to your communication style. Whatever you preferred method of communication, be it a phone call, text message, email, video chat and what not, your real estate sales representative should be able to respond with a timely message, ideally within hours if not minutes.
2. On top of the market trend and local data:
The real estate market is always in flux. The Realtor who is plugged-in can help you access the latest data and make the best decision. At the introductory meeting, ask the prospective Realtort a few questions about trends in the local market. If he or she appears to know less than you, move on.
3. Tuned into your needs and timelines:
Many buyers avoid getting an agent because they don’t want to be pushed to buy anything. Certainly, nobody should be pushed into anything. A good Realtor should advise and guide you. They should take the time to understand your needs and match you with a suitable property within your budget.
This relationship is a two-way street. The buyer should do their part to be honest and communicate your needs and timelines. Don’t try to draw attention from Realtors by boasting that you are ready to buy now or want something much higher than your budget. You will end up with what you’ve asked for — a pushy salesperson.
If you merely want to monitor the market and are not yet ready to buy, tell your Realtor, so your they won’t rush you. In a hot market, good property can come and go within days, so you need to tell your Realtor when you’re ready to act decisively.
4. Organized and attentive to details:
Thanks to all the new regulation created after last housing bubble burst, real estate business has a lot (and I mean a lot) of highly regulated paperwork. Besides the sheer volume, time is of the essence. All the paperwork have to be reviewed, completed, and reviewed according to a very tight schedule. It can easily overwhelm any buyer and even novice agents. A good Realtor can help you make sense of the myriad of documents and make sure each time-sensitive task is completed according to the contract terms.
On the road to real estate success, a Realtor is like a car. You should always start your journey with a good one.