8 Steps To Home
Ownership
From last weeks blog the first step in buying
a new home is Decide to Buy. This week we will discuss hiring your agent.
Step 2: Hire Your
Agent
In today's
complex world it seems that everything is complicated. And buying a home is
no different. Your real estate agent will wear several hats and perform several
roles at the same time. There are seven main roles of a real estate agent.
These are:
1. Educates you about the
market.
2. Analyzes your wants
and needs.
3. Guides you to homes
that fit your criteria.
4. Coordinates the work
of other needed professionals.
5. Negotiates on your
behalf.
6. Checks and double
checks paperwork and deadlines.
7. Solves any problems
that may arise.
First and foremost your agent will serve as
your market consultant. Look for an agent who listens and then clearly
communicates information that makes sense to you. Look also for an agent that
has a good grasp of the local inventory, and what homes should sell for in
different areas.
After orienting you to your market, your agent
will help you analyze exactly what you are looking for. Your agent will guide
you to homes that meet your criteria and as many of your wants as possible. For
many first-time buyers, the process is overcast by fear of the unknown. A good
agent will be knowledgeable about the process and be able to explain all of the
details to you. They should also be sensitive to your fears and concerns. One
of my favorite sayings to use with my clients is “let me do your worrying for
you.”
Coordinating the transaction with other professionals
is similar to the role of a general contractor building a home. There will be
an escrow officer, title professional, lender, house inspector, termite
inspector, etc, etc, etc… Coordination of all these details is paramount to the
success of your real estate transaction.
Your agent’s role as a negotiator kicks in
from the moment you make an offer on a home, and it doesn’t stop until you’ve
taken ownership and everything is settled.
As a skilled negotiator, your agent
will always represent your interests and push hard for the best deal without
pushing so hard that the deal is killed. If things do get tense, your agent
will serve as a buffer between you and the seller or the seller’s agent, always
remaining cool headed and logical while exploring different options to find the
win-win.
Throughout the closing process, a myriad of
details will be resolved behind the scenes. Your agent will constantly check to
see that time lines are met, paperwork is completed, updates have been filed,
and the important steps are completed. Almost without fail, there will be
problems. Your agent will prevent them when they can be anticipated, and solve
them when they are unforeseen.
Most importantly, professionalism is the
quality that matters above all else. Trust and security in the hands of the
right service provider are well placed, and for you well deserved. The right
real estate agent for you understands this and sees service as both a promise
to you and a duty to the profession. The right agent will always put your
interests first.
When you have an agent that truly listens to
you, you will want to listen back. You will be told exactly what you can expect
and what will happen during the home-buying process. This is your opportunity
to get very detailed about your mutual expectations. You should ask questions
like; how often will you be in contact, how often you can expect to see homes,
and how many properties you might visit during an afternoon. Ask you agent how
communications will be handled; by phone, fax, or email, and make sure you share
your preferences.
When you find the right agent, you will actually
be making a mutual commitment. Your new agent will be dedicated to answering
all your questions and getting you the home that you want. You will be
committing to honestly sharing your feelings, opinions, and concerns. And you
will be committing to work exclusively with that person as your agent. This is
done thru a Buyer Representation Agreement.
The Buyer Representation Agreement clarifies
the working relationship between you and your agent. Your agent commits to
getting you what you want, and you commit to working exclusively with your
agent.
To learn more about the real estate buying
process, please contact:
Philip Crocker
Keller Williams Metro Real Estate
3965 Fifth Ave, Suite 300
San Diego, Ca 92103
760.212.7222
This blog will be written in 8 sections, one
to match each of the steps
The eight steps to buying your first home:
1. Decide to Buy
2. Hire your agent.
3. Secure financing.
4. Find your home.
5. Make an offer.
6. Perform due diligence.
7. Close.
8. Protect your investment.
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