Drop the "Fly by Night" - The Importance of Having a Buyer’s Agent Represent You.

So You are Shopping to Buy a Home.  Shopping?  Yes, Shopping. 

You are on the internet and see a house of interest or drive past a home with a For Sale sign, and you have questions on these homes or you want to take a tour.  What do you do? You call the agent on the sign or on the listing, of course.  They show you the house.  It is not really what you wanted, so you continue your search. You do the same thing with the next property that you want to see and so on, and so on, don’t you? 

Good idea?  Not so much, and I will explain why this is not in your best interest.

Buying a home is more complex then just calling a listing agent and asking that agent to show you a house. 

Before you start looking at homes, it would best to do your research to locate a REALTOR® to represent YOU.   By hiring a REALTOR®, you will have representation throughout the entire process.  They will also be objective when showing you a home and point out potential issues. A buyer’s agent will be able to show you any property that is listed for sale no matter which company has it listed.  Brokers co-operate by listing their properties on the multi-listing service.  Keep in mind that a listing agent is looking out for the interests of the seller – they are representing them and in doing so, owe them their loyalty. 

Whether you are a first time home buyer or have gone through the process many times, you should still plan to use a buyer’s agent for the same reasons as listed above.  Upon your initial meeting you would want to discuss the Exclusive Buyer Agency Agreement with your REALTOR® which would spell out the relationship between you both. 

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS® and are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again. To read more about why you should use a REALTOR® visit: http://bit.ly/OPBo5.

The best thing a home buyer can do is to research and gather as much information as possible so they can make an informed decision. Remember that knowledge is power!  Don’t be afraid to ask questions.   

What advice would you give any one buying a house in today’s market?

Avoid These Top Home Selling Mistakes!

We continue our blog from last week about how you can avoid difficult and costly hurdles to selling your home in a tough economy. Remember, home sellers often set unrealistic expectations that can delay the process.   The following list contains the second part in the two-part series of common mistakes to avoid.

6. Thinking you need to be in the home to explain things to a prospective buyer

Being present during a showing may actually harm your chances of selling your home because the prospective buyers and their agent can often feel uncomfortable talking or exploring the house freely while you’re present. 

7. Not being objective about your home

You have to be open and honest with yourself if you want to sell your home.  This means listening to your REALTOR® when he or she offers suggestions on improvements for selling your home quickly.  You may have sold houses before, but today is a different market and your REALTOR® has their “pulse” on it. 

8. Putting the home on the market before it's ready

Don’t overlook the value of hiring a stager. Staging your home before placing it on the market is the packaging which will help you sell.  Also, be sure to remove clutter and begin to pack as much as possible so the house not only looks clean and tidy, but it will also show as spacious as possible.  Once it is on the market, be extra careful if you are still living in the home to keep it neat, clean and tidy in the event of possible showings.

9. Not comparing your home to others in the area / market

A good REALTOR® will pull data (comps) of other homes that are currently on the market (your competition) and recent homes that sold in your area.  These homes will be of comparable age, size and condition. This will help you set realistic expectations on price and save you a considerable amount of time in lowering the price. Remember, it is best to list your home correctly from the beginning and not after it has been sitting on the market. 

10. Getting Emotionally Involved

You have to be prepared to sell your house.  Your home will always have more value to you, than to others. Perhaps it’s the home you grew up in or the home where you raised your children. Whatever the case may be, you cannot let these factors hold you back from selling when you receive a reasonable offer. Remember, your REALTOR® can help you determine the value of your home, without becoming emotionally involved.

We want to hear from you! What other factors should be considered when selling your home?