Do I Need an Agent?Most people think that a real estate agent just shows you homes, but that is a very minor part of their job. An agent will assist you in coming to an agreement with the seller, and will also help you find and arrange for financing. A good real estate agent should do the following for you: Analyze your financial situation: When you first meet up with an agent, they will ask you some very personal questions about your finances and cash reserves. Don't worry, they do this to get a good feel for the kind of price range you can afford and how much you can get in loans, mortgages, etc... They ask these questions at the beginning because a lender will ask these same questions at the end. Chances are, your agent is already forming a financing plan in his head just for you. Be versed in real estate laws and local customs: Agents are by far more experienced at home buying and selling than most homeowners. They know everything there is to know about their areas, and what they don't know, they can find out. Also, all agents expect to spend extra time with first time buyers, and will be able to explain everything in the tiniest detail to put your mind at ease. It is your right to insist that every step be explained to you for your full understanding. Recommend a Price Range for you: With all your input, an agent can tell you of your options for financing, what price range you qualify for, etc... Welcome you into a new community: If you are moving to a new area, contact an agency in that area, and you'll be pleasantly surprised at how you get treated. Agents have been known to perform touring services such as meeting your plane, showing you around the neighborhoods, make hotel reservations for you, even provide baby-sitting services. This is one of the best ways to find out about a new community. Screen Listings: When you're looking for a home, you must look through thousands of homes that don't even apply to you. Agents can screen through the ones that aren't what you're looking for and just show you what you want to see. Buying a home is much more pleasant this way. Show you the Homes: You're agent will make appointments and tour the house with you, relieving you of another burden. Estimate Costs: If you've found a home you like, your agent will sit down with you and figure out how you could buy it, and how much it would be per month. Negotiations: When you DO decide to buy, the agents do the busy work, going from buyer to seller with acceptance or denial messages. This can be a harrowing process, and your agent can do it for you all over the phone. Work with your Lawyer: If you decide to have an attorney preside over your house purchase, your agent will work closely with them from the moment you make your first offer. Financing: Your agent is skilled and experienced with working things out with the bank. A good agent will coordinate with banks, finding the best mortgage to suit you and your situation. Also, when you are waiting a pending acceptance, your agent will answer any questions or fix any kinks that the bank may have about you. (That's why they ask the questions!!)
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