5 Things to Know When Hiring a Realtor
Contracts.. when working with clients at Triad Realty Group, we make certain our clients understand the process and procedure of contracts prior to writing one. Homebuyers can be sued if contracts are not executed as well as Realtors. Even though it is rarely done, it’s still best to be mindful that it can occur and not take it for granted. Most people miss reading this in the fine print prior to signing the contract.
5 Things You Need to Know About Your Realtor
1. Make certain they are a licensed Realtor and not just an agent. This is so important because all are not created equal. A Realtor is bound by laws and bylaws. An agent isn’t and anyone can call themselves one. Realtors need to be relicensed every two years in order to remain a Realtor. An agent does not need classes. A Realtor is often a part of a local real estate board and an agent is not.
2. Make certain your Realtor understands the business of real estate. Just because they are licensed and a Realtor doesn’t mean they understand the business. After getting licensed, learning still takes place. Your first transaction is the hardest. Most agents need help with the process for several transactions. The business of real estate changes often. If your agent is not aware or updated by consistent training and knowledge, you may be missing out on programs or events that can save you money like the first time homebuyer program. This event takes place in most states and a lot of people qualify.
3. Make certain your Realtor operates in the practice of integrity and ethics. As with any business, integrity and ethics are the code for longevity in business. Some people do business for many reasons and money is not the only reason. There are criminals in every business. In real estate, you share so much private information with your Realtor and mortgage broker, it’s important to know who you are dealing with. Ask your Realtor questions just like they would ask you questions. After all, real estate is a relationship business and your Realtor and you should be building a relationship in the process.
4. Make certain your Realtor has your best interest at heart. As I mentioned before, everyone isn’t in the business for the same reason. If your Realtor appears pushy or refuses to listen to your request as it relates to homebuying, pay attention to these signs. You’re buying the house. You should have all the say so of what you like and what you expect. A Realtor is a professional advisor and that is it.
5. Make certain your Realtor is willing to teach you what you don’t know. Buying a home is stressful enough. This is a perfect time for you to become a student. You need to know the what and the why of buying a home and the after you get the keys too. Even before you decide to buy, you should be working on your credit in order to get the best interest rate. Learn how you can start monitoring and improving your credit in advance here. You won’t learn all you need to know at first nor up front. But each stage from the beginning until the end of the process, you should be in learning mode. You should also be better off as a new homebuyer after. This is why I mentioned earlier, it’s important to hire a competent Realtor.
Overall, buying a home is such a wonderful and can be, scary process. You are owning a piece of your networth. You can keep it and build the equity or you can sell it and cash it out.
Bottom line, owning real estate is always better than renting. Majority of millionaires and billionaires own real estate. Having a confident resource, like a trusted Realtor and mortgage banker on your side is money in the bank. Until next time, make each day count by adding to your networth.
Blessings and peace,