First, I must ask whether you would like to purchase a home for yourself or whether you are getting into the investment realm.
If you are purchasing a home for yourself, it is highly recommended that the first step you take is to find a good, experienced, full-time Realtor. Read that sentence again. You are not going to your neighbor’s daughter’s mother-in-law who got into real estate as a part-time hobby when the kids left home. She may be a delightful person and one you want to get to know, but that does not mean she is the one to help you with one of the largest investments of your life.
The world around us changes daily and many of those changes affect the real estate market. A lawsuit occurs somewhere in the country and all of a sudden there is a new disclosure to make, new form to fill out, new outlook on specific issues and possibly new pricing or new value impacts. That is why you need a Realtor who is on top of today’s market. A smooth real estate transaction is fulfilling and rewarding and should be a good investment; a transaction gone sour can be an unending nightmare! This statement has never been more true than in the quickly-changing market of today.
Don’t be afraid to talk to several Realtors – ask questions, then go home and think about their responses. Don’t make a snap decision while you are in someone’s office. It’s very easy to be dazzled by a powerful presentation, but how much knowledge did the Realtor show? Is he or she willing to work on the level that you need? Every Realtor would love to sell that million dollar home but if you’re in the $200,000 bracket, are you going to get the full attention and help that you deserve?
A Realtor has accessibility to a more complete database than you have available to you. It’s also very easy to use. A Realtor can check daily for new listings, price changes, changes in terms, etc. If the right property is not available today, it may very well be available tomorrow. However, the better the deal, the more likely it is to sell quickly. You do not want to find out your dream property went under contract two hours ago. They should know the market and be able to advise you on everything from community concerns to the price and terms to offer. If it is a bank-owned property or a short sale, the Realtor should know the ins and outs of preparing the appropriate package or presentation to insure the best possible deal for you.
If you are going into the investment arena, you will more than likely become experienced very quickly in evaluating deals, making offers and possibly even the presentation and follow-through of an offer. You may find a homeowner that you want to work with directly and feel comfortable doing your own deal. It may be even more beneficial for you to have the aid of a Realtor, however. If you find that “good deal” a day sooner because you’re working with the right Realtor, what can that be worth to you? And if you’re working on three or four deals at at time (as an investor, you will soon discover that every offer you make will not necessarily close) do you really want to spend the hours and hours preparing offers, counters, doing all of your own research from beginning to end, following up with title companies, lenders, and all the other parties. . .
For more information or individualized assitance regarding whether you would like to work with a Realtor and how to find the right Realtor, Contact Us.