Realtor Representation

Did you know it is FREE to have a Realtor represent you as the buyer in the purchase of a home? That's right, the commission that a Realtor makes comes from the SELLER of the home you buy, so it is to your greatest advantage to hire the right Real Estate Agent to help you buy a house. This is true whether you are purchasing a home in which people currently live in and are selling OR a brand new home that you get to design and build in a new community. It is imperative that you are represented by Real Estate Professional so that your best interest is taken into account.

What makes a Real Estate Agent the "right" Real Estate Agent? When looking for a professional in any field, you owe it to yourself to ask the right questions and learn about that professional's business prior to committing yourself to their services, right? When you were looking for a pediatrician for your child, did you just go with the first one you found, or did you look into a few of them to find out how they provide care and what their services included? When you were looking for a restaurant to take your visiting family to, did you look up the menu and service reviews of a few of them or just go to the first one you drove by? In this day and age, we as consumers demand top-level service, and don't you think you deserve that when you are investing into the purchase of the most expensive thing you will ever buy, AKA a house? I hope you agree that the obvious answer to that question is YES!

When interviewing a Buyer's Agent, someone who works with a buyer to find a home, there are some great questions you can ask to ensure that you are hiring the right professional. After all, buying real estate is investing in your retirement portfolio, right? You want to make sure that you are investing your hard-earned money into a property that will gain appreciation over the years so that you can have a return on that investment. A professional Real Estate Agent will understand the seriousness of what is being asked of them when they are hired and will protect your money by using their knowledge gained from running their Real Estate career like a business rather than something that is going to gain them a commission check. Here are some questions you will want to ask a Realtor prior to hiring them:

1. Is Real Estate your full-time or part-time job?
Many people start working in Real Estate when the market is great. It is easy to get into Real Estate considering you only have to take a course and pass the state licensing exam. This results in a lot of people doing Real Estate as a side career to gain some extra cash in addition to the salaries the earn from their full-time jobs. The problem with this is that they are not running a Real Estate business; rather, they are chasing a commission check. Who would you rather hire, someone who is fully invested in a Real Estate career and knows the market inside-and-out because of the sweat equity they have in the industry or someone who sells a couple houses each year so they can pay for their annual family vacation?

2. How many buyers did you help purchase a home last year?
This question gives you a frame of reference as to how successful they are. If they are able to sell multiple homes per month, that likely means they have business systems in place that allows them to efficiently assist their clients and get the job done. This will also give you an idea of how many hours a week they work and if you can be guaranteed that they are working hard for you behind the scenes.

3. Are you a single agent, or do you work as part of a team?
Working with a Realtor that is part of a team can provide great benefits. As a Buyer's Agent on a team, it is unlikely that they also list homes for sale; therefore, you can be assured that they are working very hard for you as a buyer without having distractions of needing to tend to listings and the sellers of those listings as someone else on the team would typically be responsible for that aspect of the business. In addition, if scheduling time to see homes is difficult for you due to work or your partner's schedule, being represented by a team can give you flexibility as someone will always be available to show you a home when your schedule can accommodate it. Some teams even have transaction coordinators who assist with buyers once they are under contract. This is where things get very detail oriented with specific dates and contingencies, so it is wonderful to know that someone's sole purpose in the team's business is to ensure that your legally binding contract is being tended to 100%.

4. Do you require a pre-qualification from a lender prior to looking at homes?
A Real Estate Professional who knows the market well understands that they are providing a huge disservice to their client if they show them homes before the buyer has spoken with a lender and gotten pre-approved for a loan. As a client, your time is precious, and your Realtor should value that and not want to show you homes without knowing what your budget clearly is. Also, almost all offers require a pre-approval letter prior to the listing agent even presenting the offer to the seller since the seller needs to be assured that the buyer will be financially capable of purchasing their home.

5. How do you find homes that will meet my needs and wants?
A good Realtor will want to have a Buyer's Consultation with you where they will get to know you and your family to truly discover your motivation for moving and understand exactly what you are looking for in a home. After a lot of questioning and listening, that Real Estate Professional will be able to put together a customized search of homes for you that best meets your needs and wants.

6. How many homes do you usually show your clients?
If the Real Estate Agent has done their job properly, the average buyer will look at between 8 and 10 homes in person prior to submitting an offer. Your Real Estate Professional should be able to narrow your house hunt down and only show you those homes that will satisfy your needs and wants. It will get very overwhelming if a buyer sees 20+ homes all with different qualities and in different areas of town. Hire someone who will be able to pinpoint what you are looking for and save you time and frustration of having to search and search and search for that perfect house.

7. Do you negotiate on behalf of your clients?
Educating buyers on the nature of the current market is essential. For example, in the Orlando, FL market right now, homes are selling on average for 96% of asking price when priced correctly. Your Realtor should know this so that you as a buyer can know that there may not be a lot of room for negotiating a deal. Risking playing the negotiating game in this type of market can result in you being outbid by another buyer. Of course, your Realtor should always act in favor of you as their client, but providing a clear understanding of what to expect when it comes time to put in an offer is very necessary for a Real Estate Agent to do to save you time, energy, and potential frustration.

Hopefully you know by now that hiring the RIGHT Real Estate Professional is something you owe yourself. The services provided to you should be top-notch so that the process is as seamless as possible and so you end up in the home that you and your family can create memories in for years to come.

"Where the Magic of Disney meets your Real Estate needs."

Are you ready to start looking for the perfect home? Contact Jackie at 941-356-3956 or jackievoigt@kw.com now!