5. YOU ARE THE AGENT’S ONLY CLIENTS
You are not. Most are in fact very busy and our time is quite valuable. So please, don’t waste an agent’s time if you are not serious about buying a home, or not qualified to purchase. If you take the steps of getting pre-approved for a loan, and show that you are excited to start your home buying process, it makes us as agents that much more willing to put forth all our energy into your property search.
4. YOU CAN MOVE IN THE DAY THE CONTRACT IS SIGNED
Unfortunately, the home buying process does not end with a signed contract. It could take anywhere from a week, to 7 or 8 months to get the keys to the castle. Home inspections and wood destroying organisms inspections have to be performed. Possibly a survey. A lien title search will be performed by the title company handling the closing; And, of course you have to pay for the house! Only once all of these procedures have been completed will you get the keys to your new home.
3. BUYERS KNOW PROPERTY VALUES
Buyers sometimes suffer from what I like to call Valuitis. They see on tv that it is a “buyers” market or a “sellers” market and think they know how to do their real estate agents job. Please, leave it to the professionals. Your opinions are appreciated, but not always accurate. Yes, the market does reflect the value of a property but, there are many strategies to pricing a home. Just because a house is priced at $200,000 and it is a buyers market does mean it will sell for less than $200,000. The home could be ‘priced to sell.’ Or, vice versa, if it is a sellers market doesn’t mean the seller will get what he/she is asking for the home. A comparative market analysis (CMA) is the only way to make an accurate estimate of a property’s true value, short of an appraisal.
2. BUYER WILL FIND EVERYTHING THEY WANT IN A HOUSE
This is typical especially among first-time home buyers. It is very difficult for anyone to find the home of their dreamswithout building it from the ground up. While money is generally the root of this issue, many factors contribute, including buyer expectations, location, and timing. Timing is crucial in the ever evolving real estate industry. I challenge you to be flexible on your wish list in your next home buying endeavor.
1. BUYER PAYS AGENT’S COMMISSION
This just isn’t the case. The Buyer’s Real Estate Agent is paid by the seller. The commission rate is already agreed upon by the Seller and the Seller’s Agent. There is no cost to you as a buyer unless you agree otherwise with your agent!
Hopefully these tips will help out in the future.