George Souto makes some very good points here on what to look for when choosing a Realtor. OK, maybe I'm particle to this blog, which you will see why when you read it. :)
I'm disabling comments... they truly belong on George's blog. Please stop by and leave any thoughts there.
This part of the Seminar I expanded back on April of this year when Valerie Osterhoudt asked if she could come and sit in on the Seminar that month. Since Valerie was going to be there I asked her to send me some suggestions on what Buyers should look for when selecting a Realtor. I did not have to ask Valerie twice, she jumped on it right away and sent me what she referred as the "4 A's" of selecting a Realtor.
- AVAILABILITY - When interviewing one important question is whether the Realtor will be available when you are. How many clients do they have, do they work full time or only work part time in real estate.
- ACCOUNTABILITY - Will the Realtor show up on time for appointments, do they answer their phone when you are with them. You should always be their number one client. Will they return "your" call in a timely manner.
- ATTITUDE- How do they act when you are discussing matters that are important to you with them. This is your chance to see if their personality meets your needs. See if you have a repour.
- AWARENESS - When interviewing a Realtor, are they truly interested in what you are saying, truly listening to what you are looking for in a home. Any Realtor can show properties, but how well do they know the area you are looking in.
Valerie also brought made an additional point that I thought was worth incorporating into my Seminars. She stated thatprocess can be very stressful, so it is very important for a Buyer to choose a Realtor that will not only have all of these qualities, but also make their homebuying experience an enjoyable one.
The second thing that I cover inthis part of the Seminar, is that most Realtors will ask them to sign a Buyer/Broker Agreement. I will let the Realtors on this site give a more in debt explanation of this document, but for the purpose of the Firist Time Homebuyer Seminars, I keep it simple and only make them aware of this document.
- Buyer/Broker Agreement - Is a document that will establish a time period by which they will work exclusively with the Realtor that you are signing it with. A Buyer also acknowledges by signing this document that they are not presently working with anyone else, and makes the Realtor aware of any other properties that they have seen with other Realtors. A Realtor will want this signed for several reasons. The most important is that they are assured that they will not be spending all their time showing a Buyer houses, and then the Buyer goes and purchases a house through someone else. Also this document will make the Realtor aware of any possible conflicts there might be with previous houses the the Buyer has seen.
There is a lot more to this document, but for my purpose, as I stated before, I just want them to be made aware of it at this time. I will let the experts on this document (Realtors) explain it further at the time the Buyer is asked to sign it.
My final point in this part of the First Time Homebuyer Seminars is that there is no reason to not work with a Realtor. Working with a Realtor has every advantage and no disadvantages in my opinion. It is a service that is free of charge to them, because the Seller pays the commission. Some think that they can get a better deal if a commission does not have to be paid to the Buyers Realtor. In my opinion this is not true, because a commission is going to be paid in any case. By not being represented by a Realtor the Buyer is putting themselves at risk, because they don't have anyone representing their interests in the transaction.
I am sure that Realtors will have a lot more to say about this, so please go at it. I do Loans, I am not a Realtor, that is why I keep this part of the Seminar as simple as possible, and let the Realtors answer the questions that pertain to their part of the business. Again my purpose is to just make them aware of the process.
Next I will go into the process of looking for a home, and what happens when they find one. Below are links to my previous blogs in this series in case anyone would like to go back and read them.
First Time Homebuyer Seminar .............. Basic Openning Questions
First Time Homebuyer Seminars ................ Pre-Approval Process
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Who To Call For Your Mortgage Needs In Connecticut:
George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.
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Valerie Osterhoudt, ABR
(Accredited Buyers Representative)
Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.
Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell: 860.883.8889
email: Valerie Osterhoudt, ABR
website: www.CTrealtorMLS.com
