Tell me, what does your Realtor do for you? (appraisal, negotiations, new agent)
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I'm beginning to wonder if my Realtor isn't doing enough. Seems that I'm the one who's finding all the houses we see, and just starting to get the impression that my Realtor should be doing more in general. I'm a first time home buyer so I don't really understand what all the Realtor should be doing to help us find a house to buy. So, having said that...
For those of you who are in the process of buying a house, what is it that your Realtor does for you?
I'm beginning to wonder if my Realtor isn't doing enough. Seems that I'm the one who's finding all the houses we see, and just starting to get the impression that my Realtor should be doing more in general. I'm a first time home buyer so I don't really understand what all the Realtor should be doing to help us find a house to buy. So, having said that...
For those of you who are in the process of buying a house, what is it that your Realtor does for you?
Is there anything you feel your agent should be doing for you that they are not? Would you prefer your agent selects the houses you view for you?
If there are specific tasks/research/etc that you have asked your agent to do and they haven't, that's obviously a problem. If you are expecting more information, help with selecting properties, etc, but haven't explicitly asked your agent, you need to tell them exactly what you are expecting them to do. If you just generally feel like there is something they should be doing, but you don't know what, that's not really an issue.
[I am an agent] The services I provide to my buyers varies greatly with each relationship. Some buyers want me to pick out properties for them. Most buyers want to pick the homes themselves. Some buyers have a whole set of questions/information they want me to find out about each property they view online before we go see it, or they even want me to preview homes for them. Others want to go see if they like a home first and then ask questions. I do provide all buyers information on the market they are looking in and an overview of the home buying process, including timeline and expected costs to prepare them. Some buyers really take this all in; others don't pay much attention and start to understand the process as it unfolds. If you feel your agent hasn't adequately prepared you or educated you on the homebuying process, you may need a new agent. Otherwise, just be patient. In the beginning our job really is just to educate you on the market, select and show properties. It's once you find one that you like that we really do work.
We gave our realtor a price cap, area, and a list of must haves and she put them in the computer to automatically be e-mailed to us if a house comes on the market that fills our requirements. From there we looked at the listings and aerial views and called them if we wanted to see any. We are now under contract for a short sale, over 6 months and counting, and we get periodic updates on how the sale is progressing.
Availability and updates on their part haven't been as punctual as I like but with any luck we are close to getting an approval on our offer and we'll be done.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Real estate transactions have three phases. Finding the home is the first and quite frankly the easiest part. Now on to negotiation, acceptance, inspections, maybe reinspections and renegotiations, for phase two. Phase 3 is the cat herding part, lenders demanding things, appraisals, title issues, you name what can go wrong and at this phase it will.
I think we really earn our money keeping the last 2 phases from creating disaster and dashing dreams in our clients.
At this point, I would expect that your agent has helped you get preapproved for a loan, if you were not already. Depending on your market and how fast homes sell, I would expect at least weekly check-ins with you, or letting you know immediately if a new house comes on the market that meets your perimeters. Have you communicated your desired buying timeline? When I was a buyer, I liked and expected to be in the driver's seat; I expected my agent to set up showings I requested or let me know if there was a good one I should check out. Perhaps your agent is still feeling you out and doesn't want to push you too hard? I would communicate your expectations either way; if/when you are ready to make an offer, you want to have a good working relationship with your Realtor to get you to closing.
Real estate transactions have three phases. Finding the home is the first and quite frankly the easiest part. Now on to negotiation, acceptance, inspections, maybe reinspections and renegotiations, for phase two. Phase 3 is the cat herding part, lenders demanding things, appraisals, title issues, you name what can go wrong and at this phase it will.
I think we really earn our money keeping the last 2 phases from creating disaster and dashing dreams in our clients.
They should help with the legal aspects of real estate and negotiations. Some are knowledgeable in other areas. Searching for properties is the tip of the iceberg really.
Our realtors have...secured property we wanted that wasn't for sale, sold my houses, listened to what we wanted when relocating and not wasting our time on houses that didn't fit our list of criteria or location, found us a great local lender that had us approved within an hour, handled our transaction while we were 2500 miles away, handled every tiny detail of a purchase so all we had to do was fly in, sign papers, and get on with life...and the list goes on.
If you think realtors are scum, you haven't chosen very well. There are unethical, low-life practitioners in every field of work and there are honorable people who elevate their profession. Find one of those realtors and you'll do fine.
I'm beginning to wonder if my Realtor isn't doing enough. Seems that I'm the one who's finding all the houses we see, and just starting to get the impression that my Realtor should be doing more in general. I'm a first time home buyer so I don't really understand what all the Realtor should be doing to help us find a house to buy. So, having said that...
For those of you who are in the process of buying a house, what is it that your Realtor does for you?
You're in the beginning stages. Has he gotten you in touch with a lender to get your loan started so when you find the house you're ready to go
If he's leaving everything up to you and is literally doing nothing but waiting for you to call then go and speak to him. Ask him if there is a miscommunication.
Once the offer goes in and gets accepted is when the real work starts IMO.
Don't expect much, really.
I found contacting listing agents a way to go for me.
Good luck!
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