Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.
You want to deal with one of
the best agents in your marketplace. To do this, you must be able to
distinguish the average agent from the great one.
Here are the top 4 demands you
need to make of your Real Estate Agent when buying a home:
1. Tell the truth about the price
Too many agents just take your
offer at any price and then try to ‘work’ both the seller and you while
negotiating later. Demand that the agent prove to you that they have a belief
in the price you are offering. Make them show you their plan to get both the
seller - and the bank
- to accept that price. Every house in today’s market must be sold two times –
first to you and then to your bank.
The second sale may be more
difficult than the first. The residential appraisal process has gotten tougher.
A recent survey showed that there was a challenge with the appraisal on 24% of
all residential real estate transactions. It has become more difficult to get
the banks to agree on the contract price. A red flag should be raised if your
agent is not discussing this with you at the time of the original offer.
2. Understand the timetable with which your family is dealing
You will be moving your family
into a new home. Whether the move revolves around the start of a new school
year or the start of a new job, you will be trying to put the move to a plan.
This can be very emotionally
draining. Demand from your agent an appreciation for the timetables you are setting.
You agent cannot pick the exact date of your move, but they should exert any
influence they can, to make it work.
3. Remove as many of the challenges as possible
It is imperative that your
agent knows how to handle the challenges that will arise. An agent’s ability to
negotiate is critical in this market.
Remember: If you have an agent who was weak negotiating with you on parts
of the purchase offer, don’t expect them to turn into a super hero when they
are negotiating with the seller for you and your family.
4. FIND the right house!
There is a reason you are
putting yourself and your family through the process of moving.
You are moving on with your
life in some way. The reason is important or you wouldn’t be dealing with the
headaches and challenges that come along with purchasing. Do not allow your
agent to forget these motivations. Constantly remind them that finding the
right house is why you hired them. Make sure that they don’t worry about your
feelings more than they worry about your family. If they discover something
needs to be done to attain your goal (i.e. rethinking price), insist they have
the courage to inform you.
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