1) Realtors work on commission; they get paid by the seller at closing. If you’re the buyer working with them their service is free.
2) If you think more Realtors working for you the better… That’s a myth you will receive duplicate information; as the inventory in the Multiple Listing service (MLS) doesn’t change from one agent to another.
Plus this just means more phone calls and more emails to you than necessary! (Don’t we all have enough of these? Why add more?!)
3) Commit to one Realtor and he/she will commit to you. If you work with more than one Realtor, chances are none of them will put forth much effort because you may purchase through another Realtor. They will work harder for you when they know they will eventually get paid for their efforts.
4) Respect. If you have more than one Realtor working for you, it can get confusing and unfair for you and them.
WORKING WITH A REALTOR: It is recommended for you to find and work with ONE Realtor that you connect and work with ONLY them. Realtors work on commission, therefore, it’s not good business to have more than one Realtor working with you due to they all will be working for the commission and only one will receive it. Realtors’ only get paid at closing from seller -when a buyer signs the paperwork and walks away with the keys; therefore there is no charge to buyers or sellers for our work, i.e. searches, research, marketing, reports, contracts, phone calls, viewings, negotiations is all done prior to us making any type of income. What happens when a closing does not go through, or they’ve done all this work for you and you choose a different Realtor? They took time away from other customers or their families for free.
If there are any homes you see while out driving around, jot down the address and phone number on the sign (if applicable) and send it to your Realtor. DO NOT CALL THE NUMBER ON THE SIGN. Realtors work on commission, gets to confusing if you involve more than ONE Realtor.
TOP 10 REASONS TO HIRE A REALTOR
1. Education & Experience: You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does.
2. Neighborhood Knowledge: Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood.
3. Connections / Referrals: Realtor should be able to provide source of referrals to those who can help you: loan officers, inspectors, insurance, plumbers, pest control, security etc.
4. Handling Volumes of Paperwork: One page deposit receipts were prevalent in the early 1970s. Today’s purchase agreements run 10 pages or more.
5. Develop Relationships for Future Business: The basis for an agent’s success and contained career in real estate is referrals.
6. Agents are Buffers: Agents take the spam out of your property showings and visits. If you’re a buyer of new homes, your agent will whip out her sword and keep the builder’s agents at bay, preventing them from biting or nipping at your heels.
7. Price Guidance: Contrary to what people believe, agents do not select prices for sellers or buyers.
8. Market Conditions Information: Real estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed.
9. Negotiation Skills & Confidentiality: Top producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction because they are skilled. It’s part of their job description.
10. Answer Questions after Closing: Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist.
What is the best way to select a real estate professional?
For most people, purchasing or selling a home is the single largest financial transaction in their lifetime. It is also easily the most complicated as well, with piles of paperwork, legal requirements and numerous pitfalls. A real estate agent in your corner can make a huge difference.
1. Ask neighbors, relatives, and friends. There’s nothing better than a personal recommendation. I would be happy to make recommendations, I work with the best agents in the area on a daily basis.
2. Check out their social media pages and look at their reviews
3. Do they have another full time job? Are they only doing this on the side? Realtor’s who do real estate full time and not another career at times are easier to get a hold of and more flexible.
4. Are they involved in the community? Realtor’s who are involved in the community show they care about what they are doing and care about bettering the community they live and sell in.
Interview a few and work with one you like and trust. Everyone’s communication style is different, so finding an agent you can clique with is a bonus and makes the process much more seamless.
As a home buyer, you’re on your way to being better prepared for getting a mortgage and buying your first or next home. Don’t take chances. Do your research and ask lots of questions. When you work with a team: agent, lender, title, insurance, and home inspector with solid understanding of real estate processes, your chance of success is greater. Feel free to contact me for a free consultation and my recommendations; I can help you explore all the options available to you. My goal is to provide you with information that will help you in your decision making process.
If you want to jump ahead – go to my blog and start reading.
Closing Costs: https://ddesousa.com/closing-costs-what-are-they/
Credit & Buying a Home: https://ddesousa.com/credit-and-buying-a-home/
First Time Home Buyers: How to Purchase Part 1: https://ddesousa.com/part-1-first-time-home-buyers-florida/
Pet Friendly Lender / Free Pet Adoptions: https://ddesousa.com/why-pet-friendly-lender/