Knowing What To Expect When Buying A New Home Through A Realtor

The process of buying a home can be challenging. There are so many tasks, steps, and requirements involved. And neglecting anything concerning the buying process can be costly. So you’ll need patience, dedication, persistence, and a great realtor on your side. While each realtor is different in approach, there are certain things you can expect.

Full Disclosure

It’s crucial that your realtor is honest and doesn’t shy away from disclosing information. Realtors in the United States adhere to a set of documents called the Code Of Ethics & Standards Of Practice. These documents plus laws govern how people in the industry should operate, and transparency is part of it.

While it can be hard to tell if someone is honest, trust your feelings. If you feel something is off, no need to work with the prospective realtor. You can also ask important questions and assess how complete the answers are to see if someone is practicing full disclosure.

Lending Assistance

Good Realtors have a sizable network of trusted lenders and other professionals that can aid the buying process. The person should be able to get you pre-approved for a mortgage if lending is on the cards. A pre-approval reveals the total funds available for your home purchase, which ensures you don’t overspend.

Also worth noting is that prequalified isn’t the same as pre-approved.

“Pre-approved means the bank or lender has verified your finances and ran a credit history check. However, prequalification doesn’t typically include those things” – The Coleman Group.

Help with Finding a Home

Your realtor’s key job is to find a home that matches what you want and can afford. So the realtor should ask essential questions to determine your objectives and desires during discussions. You should receive counsel concerning locations, the kind of neighborhood, amenities, schools, and other vital factors.

Sometimes, you may have to make concessions depending on what’s available on the market vs. your desires. But a good agent can usually identify options that are super-close to client specifications.

Top Negotiation Skills

Your realtor should have experience with negotiating property costs. That way, you can get the best price and value. Realtors can typically identify the real value of a home after analysis, which offers an edge during negotiations. The agent can advise you on initial and maximum offers, including the timing for mentioning each one during the homebuying process.

Updated on Regulations and Document Requirements

Expect your agent to have strong knowledge of all governing regulations and required documents. These things can be different from location to location, and overlooking something is dangerous. For instance, the agent should understand HOA (homeowner association) laws and what makes a good one.

Schedule Flexibility

Flexibility is a massive part of being a good realtor because clients aren’t always available at the most convenient times. You should expect the agent to work with your schedule. For example, if you can only look at homes late in the evening, your agent should devote time then.

The expectations mentioned above are only some of the most important things to expect. You should also expect realtors to help with assessing risks, choosing a home inspector, negotiating any repair requests from an inspection, and others.

Leave a Reply