Melody's Blog: A Few Important Home Buyer Tips

Purchasing a home is a large investment and as such it is important to be prepared by following the right steps. 

First ask for Realtor referrals from people who’s opinion you trust. Interview the agents who are referred to you and then choose the agent who you feel will best represent you based on their experience, their negotiation skills and your comfort level with their personality. Many people choose a Realtor “because they are nice.” Feeling at ease with your agent is important since you will be spending a lot of time together but equally important are their reputation, their experience and their ability to best represent you in terms of what is important to you in your real estate transaction.  Once you find the ideal agent for you, commit to working with them as they will commit to working hard for you. 

Always avoid working with the listing agent of a property that you wish to buy. The listing agent is already employed by the seller to represent the seller’s best interests in the transaction.  As a buyer you want the lowest price and best terms and conversely the seller wants the highest price and best terms.  So having one agent represent both sides is a conflict of interest.   A misconception is that you will save money if you go through a listing agent. The truth is that having a strong buyer’s agent represent you will protect your best interests and will save you more in the transaction than going through a listing agent which will yield you no representation.

The next step is to ask your agent for lender referrals (unless you are paying cash for your home).  Many people have a friend or relative who is a lender and don’t bother asking their agent for advice on this topic. Full time agents work with the best mortgage loan officers on a daily basis and can advise you on which lenders have a reputation for performing on their loans and for providing unsurpassed service.  The mortgage loan officer is a critical person in terms of you closing escrow on the home that you want and like Realtors they differ greatly in terms of knowledge, service, communication and the ability to perform. 

Last of the most important home buyer tips is to make the time to sit with your agent for an in depth Home Buyer Consultation. Many home buyers feel they are too busy to meet with the agent and as a result waste weeks or months that could have been saved by all decision makers taking the time to communicate all of your wants and needs up front.  The more your agent understands about what you want and need the sooner they will find the ideal home for you and the better chance they will have of finding it before someone else does.  Keep in mind that the agent’s job is only 5% about finding the home (which anyone can do online) and most importantly about representing your interest in one of the most important investments that you will make.