I have been seeing a lot of concerns on the internet from buyers looking for houses, but are not committed to working with a Realtor. Buyers go to open houses, see the ad or sign and call the listing agent. The next thing they know, they have found their “dream home” and are ready to purchase, except they don’t know what to do next. I want to strongly suggest to anyone that is considering buying a home to contact a local Realtor first before looking at homes. Here are a couple reasons why.
1. Realtor Fees
Sometimes buyers get so caught up in finding their “dream home” that the last thing on their mind is asking about potential Realtor fees. Most Realtors do not charge the buyer a commission fee, however buyers need to be aware that some Realtors do charge buyers a transaction fee. This fee is usually minimal, but this is something that you as a buyer need to think about upfront. There are many Realtors that do NOT charge buyers any fees at all, ourselves included, but be sure to ask before you decide on which Realtor you want helping you.
2. Realtor Relationships
When contacting a Realtor, make it a point to ask them if they would be working for your benefit, the benefit of the seller, or just facilitating an agreement. I would think that a buyer would want to know right from the start if the Realtor is going to be working for their benefit or not. Most Realtors will work for the benefit of the buyer, however there are some Realtors that will only work to facilitate an agreement between the buyer and seller. Also if a buyer calls the Realtor that has the property listed they are generally unaware that the Realtor is more often than not working for their seller’s benefit. If this is the case and the buyer falls in love with the home, the best they can expect from the Realtor is to just facilitate the agreement.
3. Up to Date Information
The internet has revolutionized many things, real estate being one of those. Buyers can find information on houses from hundreds of websites, most of them for free. However a lot of these websites have information that is out of date due to Realtors not being able to make changes on these sites. We get calls all the time asking for information on houses that we sold months ago. Buyer’s should keep in mind when browsing these sites, that not all of the information may be up to date, it could be weeks or even months old. Realtors have access to real time information on things such as price reductions and whether the home is still available or not.
Just knowing these three things could save you a lot of time, money, & trouble in the long run. Wise buyers know that they need to take the opportunity to choose the Realtor that they want to work with before they start looking at homes. I sincerely hope that you found these tips useful, for more tips and information for home buyer’s you can visit our Home Buyer’s University. Be on the lookout for the next part in the Buyer Beware series!