Your Realtor will act as a broker in the true sense of the word; that
is, he will act as "matchmaker" between you and the vendor of
the home you eventually purchase. To find the right home it is important
to find a Realtor that you feel at ease with, one with whom you can be
candid with. A good Realtor is a good listener, one who will hear what you
want and need, who will find it for you within your price range. How do
you locate such a Realtor?
Asking friends for referrals, searching local newspaper ads, driving through
neighborhoods looking for "for sale" signs, going to open houses, and
attending home-buying seminars are just a few of the avenues you can follow to
locate a Realtor. Upon speaking with one or two Realtors, you should develop a
sense of whether that person is one you can speak with freely, whether he has an
idea of what you want in a home, and whether he is being honest and forthright
in his advice to you.
Expect the following from an agent:
- to know the local real estate market as a whole, both in general terms, as
well as by the different neighborhoods. After all, knowing what homes are
worth is his job!
- to provide you with a market analysis for the areas that interest you.
- to help you inspect prospective homes at a mutually convenient hour.
- to keep you abreast of new homes on the market.
- to give advice on mortgage financing, including some of the more
innovative options available.
- to know how the asking price compares to others recently sold in the area.
- to provide full details about a property on which an offer will be
- to be candid with you about setting a realistic price for the home you
- to negotiate skillfully in setting the price and terms in the offer.
- to act quickly and efficiently, to act as either a mother hen or a devil's
advocate, as required.
Your Realtor can help you purchase either a resale home (pre-owned) or a new
home (sold by a builder). When purchasing a resale home, your Realtor will make
appointments to show you the home within your preferences and price range. When
purchasing a home sold by a builder, in order for your Realtor to earn a
commission on that sale he must accompany you at your first
showing and register you with the builder. Otherwise, if you later purchase one
of the builder's homes, your Realtor will not get paid. So let your Realtor know
if you might be interested in purchasing a new home, or if you have already
looked at a few. It's all part of just being honest with him so he may do the
best for you that he is capable. Either way, a good Realtor will help you decide
which home seems to best suit your wants and needs and help you to purchase that
home whether he earns a commission or not. Personally speaking, I do my best to
help my clients make good decisions when buying a home whether I earn a
commission from the sale or not. Finding the right home for them is what
matters. I would rather have long-term clients who use my services again and who
refer me to their friends than have clients upset with me because I caused them
to purchase a particular home just to earn a commission from the sale.
When choosing a Realtor, he or she must provide you with documentation
concerning the Agency Agreement laws. If you have not received these
documents and do not have the Agency Agreement outlining your relationship with
your Realtor, ask your Realtor for them. The signed Agreements must now
accompany any Offer to Purchase that you sign.
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personal information such as name, address, phone
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