Do real estate agents consult new buyers who are not yet clients? (Realtors, insurance)
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Almost any agent will give you some time to answer questions and explain the home buying process. However, almost any agent will strongly suggest that you first talk to a mortgage loan professional to determine whether or not you are in a position to purchase a home at this time. The financing, for most home buyers, is the make-or-break process. Until you know if your credit would support a mortgage, and how much money you'd need to finalize a purchase, you have no idea how much house you can afford. Plus, if you do have some deficiencies in your credit or assets, a mortgage loan professional can counsel you on the best way to cure those deficiencies. You need to know where you stand before you go out committing yourself to buying something you may not be able to handle.
So, first talk to a mortgage professional. Find out how much of a mortgage you qualify for. A real estate agent can only give you very, very general advice without knowing what you qualify for. But most agents will be happy to spend a little time explaining the process to you. And many agents know several good mortgage professionals, and will be happy to introduce you to two or three of them so that you can talk to them. Don't be afraid to compare rates and loan costs.
Also, you might find presentations and seminars for first time home buyers to be helpful and a good place to ask questions without worrying about signing brokerage agreements, etc. Google "First time home buyer classes in (city)" and you'll have choices from banks, builders and government agencies that are free to attend and can provide a lot of good information.
First, know what your buying power is. Secondly, understand the process. At that point, you'll be ready to plan your house buying strategy.
I enjoy talking with buyers who are not yet my clients, and try to do so every day.
I will gladly help explain the buying process, and help find a good lender to talk to.
I hope you find someone you like and trust. Interview a couple. The right fit of personalities is important. Find someone who 'gets' you and listens to you, and isn't just reciting a script for how to guide a buyer to where they want you to go.
I know almost nothing about real estate, buying a house, loans / finances, calculating costs, etc.
Is it possible / likely that I would be able to meet with a real estate agent (or multiple) and have them answer some questions and explain the home buying process, without me officially being a client yet? And give me personalized advice so I can decide what to do?
Overall I am hoping for someone to guide me through what I need to know as a newbie and answer some main questions I have. I am just clueless and feel paralyzed. I don't even know if I can afford to buy a house, or how to calculate all of the costs, compare them to my rent costs now, and so on.
If I know zilch about home buying, and don't know if I can afford to buy a home, and don't know if I like a particular agent, is it reasonable to ask most agents if they are willing to consult me through these things before I sign any client contract or whatever?
Thanks for any help
Quote:
Originally Posted by MikeJaquish
Most agents will talk to you, but it is not their function to determine what you qualify for.
I would tell you to consult a lender or two to learn if you are financially ready to buy, and at what level.
Any good agent should be able to refer you to a few lenders.
With your lack of experience, you want hand-holding through the process. I suggest that you stay away from internet lenders, and work with a bricks and mortar mortgage banker.
Quote:
Originally Posted by 1insider
But the internet lenders are advertising better rates and the guys the agent sends me to are sharing the amount they overcharge me with the agent.
Just because PhotoGuy79 and 1insider both may know zilch, that doesn't mean that they are the same poster. PhotoGuy79 admits it and is seeking help; 1insider is offering his version of "help" regardless.
Last edited by jackmichigan; 08-20-2016 at 04:07 AM..
Just because PhotoGuy79 and 1insider both may know zilch, that doesn't mean that they are the same poster. PhotoGuy79 admits it and is seeking help; 1insider is offering his version of "help" regardless.
Jack you've been around long enough that you should know better. Actually 1insider is sarcastically parroting an often-repeated theme here that agents can't be trusted and are getting kickbacks from lenders, inspectors, neighbors and anyone else they bump into. But as is often the case online, sarcasm zooms over the heads of the recently arrived. MJ got it.
Eeeeeeasy on 1insider...
Put on your "I Love Sarcasm and LMAO" hats and take his humor for what it was.
I repped him, because I was laughing so hard.
Awww, man...
U B 2 qik 4 Me....
Quote:
Originally Posted by 1insider
Actually 1insider is sarcastically parroting an often-repeated theme here that agents can't be trusted and are getting kickbacks from lenders, inspectors, neighbors and anyone else they bump into. But as is often the case online, sarcasm zooms over the heads of the recently arrived. MJ got it.
I've lost 8 pounds since the Dunkin Donuts shop quit giving me kickbacks.
Jack you've been around long enough that you should know better. Actually 1insider is sarcastically parroting an often-repeated theme here that agents can't be trusted and are getting kickbacks from lenders, inspectors, neighbors and anyone else they bump into. But as is often the case online, sarcasm zooms over the heads of the recently arrived. MJ got it.
Ha! You're right--I should have known better. I probably wasn't fully awake at that hour.
But you're so convincing. At least I wasn't the only one who missed your sarcasm.
Sincere thanks to everyone who replied. This advice has been immeasurably helpful in pointing me in the right direction and making me feel more confident about where to start. You are all wonderful!
There is nothing keeping you from switching agents unless you enter into a contract. When we started looking recently, we went to an agent that we quickly learned was too busy to be able to give us any personalized attention (this agent actually gave my wife and I the codes to lockboxes on two homes and told us to go look at them).
The next day we went with another agent that has been wonderful. We found a house our first time out looking and are under contract to close in the next few weeks! She communicates daily and has kept everything on track and moving forward. The first agent has never reached out or anything.
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At least I wasn't the only one who missed your sarcasm.
