Question on Realtors (Lexington, Louisville, Fort Knox: renting, mortgage broker, lenders)

[gb lady]

As stated in a previous post, I'll be coming to Kentucky on November 2nd for 5 days to look for a new home.

Although I probably won't be moving down until May, would it be too early to contact a realtor? I would like to look at homes to get an idea of what is available. I'll be renting until I get established in a new job.

How do I go about finding someone?

[tomocox]

Originally Posted by gb lady

As stated in a previous post, I'll be coming to Kentucky on November 2nd for 5 days to look for a new home.

Although I probably won't be moving down until May, would it be too early to contact a realtor? I would like to look at homes to get an idea of what is available. I'll be renting until I get established in a new job.

How do I go about finding someone?

It is very simple to find a Realtor. Finding a Realtor who is truly capable of serving you and/or your specific needs gets a bit more difficult.

I recommend that you never just "hire" the first person you speak with nor a Realtor working under the canopy of a highly advertised firm. Often times, an individual broker working alone will offer superior service to a client simply because they are more experienced, know the area better, and/or they have a genuine desire to be the best they can be at their business.

It is not too early to contact Realtors for a spring 2008 move. Although right now, you might just be kicking tires, you will want to get an idea of the kind of values you will be seeing when you are ready to buy.

As a professional, I will share that I have seen far more people make a mistake buying without a good Realtor than I have seen selling homes without a Realtor. Please, do not buy without professional assistance. If the Realtor provides good service, it will be an excellent value which you won't mind paying for.

I would recommend also that you begin working to find a personal mortgage broker (Realtors can recommend, but be careful even then). There are some mighty fine lenders and mortgage brokers out there, but like so many other professionals, a few bums can get into the mix.

It would be an honor to suggest some professional Realtors to you as I am involved with many from all around the Commonwealth (most Kentuckians call ourselves a commonwealth rather than a state), and, of course, it would be my hope that you will interview one of my professional agents if you are coming to anywhere from Carrollton to Fort Knox.

Good luck, may your journey's be safe, and welcome to Kentucky

[tomocox]

Follow up. I did not mean to suggest that a Realtor with a big or highly advertised firm is not qualified and should not be hired. It was my intention only to say that just because someone works for such a firm, it doesn't necessarily mean they are more likely to be successful for you.

Just use good judgement in hiring a Realtor. It will make all the difference in the outcomes.

[goldenmom7500]

Hi,

I guess I learned a big lesson about realtors over the summer. I was looking at Louisville and Lexington. For Louisville, I found a realtor on realtor.com; for Lexington, I let my mother contact a realtor cousin in Ohio who found us a relocation realtor in Lexington. Well guess what - the Louisville realtor showed us a few houses, and then must have decided we weren't serious and stopped returning calls. The Lexington realtor cleared her schedule and went all out. (I moved to Lexington, although I still pine for a home outside of Louisville that I didn't end up seeing inside because the realtor blew me off).

Anyhow, the Lexington realtor said that if you have connections, use them. I don't know if there are any financials, or if they want some positive review in some professional network, or what ...

Personally, I would just recommend that you be honest with the realtor about where you stand with your search. I say this largely because then they could give you a broader introduction to the overall town, rather than a narrow focus on specific listings. However, if your experience is anything like mine, some of the realtors will not want to take the time, others will.

[tomocox]

Originally Posted by goldenmom7500

Hi,

I guess I learned a big lesson about realtors over the summer. I was looking at Louisville and Lexington. For Louisville, I found a realtor on realtor.com; for Lexington, I let my mother contact a realtor cousin in Ohio who found us a relocation realtor in Lexington. Well guess what - the Louisville realtor showed us a few houses, and then must have decided we weren't serious and stopped returning calls. The Lexington realtor cleared her schedule and went all out. (I moved to Lexington, although I still pine for a home outside of Louisville that I didn't end up seeing inside because the realtor blew me off).

Anyhow, the Lexington realtor said that if you have connections, use them. I don't know if there are any financials, or if they want some positive review in some professional network, or what ...

Personally, I would just recommend that you be honest with the realtor about where you stand with your search. I say this largely because then they could give you a broader introduction to the overall town, rather than a narrow focus on specific listings. However, if your experience is anything like mine, some of the realtors will not want to take the time, others will.

Golden Mom, your experience is exactly what I was sharing. There are bad apples in most barrels and if left alone they will ruin the barrel. I am so sorry that you happened to get the bad one in Louisville, but glad the LBAR member saved some hope for those of us who bust our butts to serve our clients.

Folks, please don't tolerate poor quality. Interview several Realtors before you choose one. Get referrals, and never ever accept less than you deserve.

[goldenmom7500]

... the funny thing is that recently the more senior realtor in Louisville emailed and asked where I stood in my search and was I still considering Louisville (it was her junior associate who blew us off). I told her, nicely, that I was sitting in my beautiful 3800 square foot home in Lexington. Someone deserving made $10,000 for giving me a little bit of their time. (I didn't say that part.)

[gb lady]

Goldenmom:

What do you mean about the realtor saying if you have connections, use them?

Thanks for the heads up on realtors.

[goldenmom7500]

Hi,

Well, I *guess* that realtors like it when another realtor (like my cousin in Ohio) contacts them with a client. I don't know if it's because it legitimizes the buyer or because there is a financial or professional incentive. Like ... my cousin in Ohio said something about writing this Lexington realtor a positive review somewhere. It also gives the buyer a status as a "relo" (relocation) - is that a higher percentage or something? Not a clue ... tomocox??

[tomocox]

Yes, I recommend that if you have a trusted local Realtor and you plan to move, let your local representative help you find a true professional in your destination area.

Here's the deal on compensation. Lets say you live in Portland Maine and you are moving to San Diego or even Maui or Guam. Your agent in Portland that you have grown to trust and respect may already know of a super-pro in your destination area, but even if they don't, they can do the research and find a super-pro to represent you in the purchase of a new home. Typically the destination broker will send your local broker a "referral" check equal, by agreement, to 10 to 40% of the buyer's broker commission paid by the seller's listing broker to the buyer broker.

I hope that wasn't too confusing. Also, remember, if your local broker/Realtor messes up and refers you to a flop, Mr./Ms. Local Realtor shares in the liability of the poor service offered by the flop agent.

[gb lady]

Makes sense. Now I have to find a local broker. The one I purchased my current home through is retired and she was a very good one.