Ask A Realtor

There are many other services that a licensed realtor can do or help with other than helping people find a home to buy or helping people sell their homes. Most of these the general public is not even aware of. I know I will not be able to list all of them so I am asking readers that can add other services, please do so in your comments following this article.

Financing – Realtors work with financing professionals on a fairly regular basis. Because of this fact they are very aware of the finance companies that work the hardest to get and keep a home buyer’s business. Realtors are also up to date with the latest interest rates and usually know which bank, mortgage company, or other finance institution has the best rates. Realtors are in the know with home loan types as well. Which one as the least amount down? Which one will be the easiest to apply for? What will I need to take with me when I go to meet the loan officer? These are all questions your realtor can answer. If they can’t, they know where to go to find out for you and will be glad to do so. Each one of these has pros and cons. Of course ultimately it is always the consumer’s decision, but a little inside knowledge always gives the buyer an edge or at the very least a comfort zone to work with. Do you have the qualifications for a FHA, VA, or USDA loan? Should you consider a conventional loan? What would your payments look like if the loan is for 10, 15, 20, or 30 years? So, ask your realtor!

Repairs, Maintenance, Moving Companies – Most realtors have a preferred list of experienced professionals that they can recommend. They cannot (in most states) give you  a single name, but they can provide you with a few names and numbers of people that will fill the need you have from lawn care to house cleaning, or reroofing to flooring. It is your choice which one to call on, but these choices are so much more reliable than picking one from the phone book. So, ask your realtor!

Utilities – A realtor can help you with whom to call for turning on your electricity, gas, water, phone, cable TV, and more. So, ask your realtor!

New home owners may need to know where these places are located: Grocery stores, medical facilities, libraries, parks, schools, churches, gyms, department stores, restaurants, theaters, and various other facilities and businesses. So, ask your realtor!

FUZZ BOWS

 

The first time I heard this I thought to myself, "What in the world are they talking about?" Of course, now that I am "in the business" of real estate, I know that a FUZZ BOW is in fact a For Sale By Owner (FSBO) property.

There are several different types of FSBOs:
· People that used to be in the real estate business
· People that had bad experiences with real estate agents in the past
· People that are internet savy and have read various sites on how to sell your own property
· People that are trying to save money
· People that are trying to hide things from prospective buyers
I am sure there are more, but this covers most of them. I will address each of the above categories one at a time.
The first category is previous real estate agents:
These people have had the education and should do okay selling their own property, but still not having a licensed agent with them at closing can be risky. It is sort of like going to court without an attorney. It can be done, but there are always risks.
The second category is sellers that have had bad experiences with real estate agents in the past:
Of course, like all lessons learned the hard way, they aren’t easily forgotten. However, instead of selling the biggest asset they have without professional assistance, they should do their research. Research to find the best representative they can to help them through all the twists and turns of selling property from listing to closing. Not only the best person, but the best real estate agency! The agency is the support for agents and if agents don’t have a good support, then that can make them weak.
The third category is the sellers that are internet savvy and have read various sites on how to sell your own property:
Hmmmm… So if this is a good idea, then I can read how to surgically remove a brain tumor and operate on any one I find that has a brain tumor? I don’t think so. Of course this isn’t a totally fair comparison, but they both can have devastating outcomes.
The fourth category is the sellers that are trying to save money:
If I had a nickel for all the stories I have heard about this one… After the closing the seller may find that they priced the house too low because they did not run comparables to discover market value of their home, the seller was pressured into paying most if not all of the closing costs, the seller was sued because of non-disclosures (things an experienced agent would have noticed and helped with), the seller was tender hearted and allowed the buyer to move in before closing date and then had to file for the buyers to be evicted because they never made the closing, and there are more horror stories on this… actually too many to list here.
The fifth category that I have listed above is the sellers are trying to hide things from prospective buyers:
Now the downside of this one is fairly obvious. It is the buyer that will suffer after this sale. There are professional crooks out there that will stoop really low to pull this sort of thing on unsuspecting buyers, especially those buyers without a buyer agent. Some of the worst offenders are the sellers that offer lease with option to buy. A young couple I know had this arrangement and then the owner sold the house while they were still making payments! He told the new buyer that they were renters.
It is our responsibility as professional real estate agents to try to help these fuzz bows. If we don’t, it would be neglecting our desire to help (this should be our desire if we are truly good agents). It could be similar to a medical professional walking past an injured person without giving them a glance. We should at the very least, offer to help them. If they refuse our help, then we can go on without a guilty conscious.

Buyer Beware!

It amazes me how so many people still don't understand the need for a realtor when buying a home. for instance... I ran into an old friend the other day going to my real estate office (Keller Williams) and here walks up my friend and her husband. We greeted each other and then I asked why they were there so bright and early on a Wednseday morning. Her answer, "We are buying a house." I replied, "And you didn't call me?" I said this with a smile on my face and seriously was happy for them. I assumed immediately that they had signed up with another friend from the same realty office. Her husband chided in and told me that his wife had mentioned a time or two that she should call me to help with their home search. I asked, "Who is your agent?" My friend then said very shyly, "Well... we are using the seller's agent." I wished them a wonderful day and went on to my business meeting leaving them so they could go and tend to their business of house buying.

Now, I can tell you what I really wanted to tell them, but it was too late to help them and I most certainly didn't want to hurt their feelings. After all, we are friends. I am writing this in the hopes that it saves you the reader heartache when it is time for you to purchase your new/next home.

Having your own REALTOR when buying a home can help you in so many ways and best of all most times the commission is the seller's responsibility! Here is a list just off the top of my head and I am sure there are more reasons to have a buyer's agent:

* Save time - Realtors can find homes with your want list and their extensive Multiple Listing Services.

* Save gas - Realtors can view the homes and see in person if they fit your wish list.

* Less stress - Realtors can be your negotiator when it comes to making/accepting/rejecting offers and counter offers.

* Save expense - Realtors can assist you with obtaining a certified inspector. If the inspector finds expensive issues with the house your agent can help you with withdrawing your offer on the house, or counter offer that the owner pays for repairs.

* Your buyer's agent is with you from the looking stage to the closing table. They have your back! Most people do not realize that if you the buyer discloses information to the buyer's agent (such as you could pay X number of dollars more than their asking price) they are obligated to tell their client (the seller) that disclosed information. No one really has your back on the deal. Now I will say there are a great many agents out there that are honest and fair, but even they will be representing their client (the seller) and not the buyer if/when thing go sideways.

Be safe, be sure, be diligent, and contract with a buyer's agent when you start your home buying process.