As a
buyer,
do I
need a
REALTOR®?
While all REALTORS® are real estate licensees, not all real estate licensees are REALTORS®. Those who join the REALTOR® Association, pledge to abide by a standard code of ethics.
I can’t understand why any buyer would opt to shop "For Sale by
Owners" (FSBOs). Traditionally, buyers do not pay for the services
of a REALTOR®, it is paid by the seller. And from my
experience, homeowners do not reduce the price of their property to
cover what they are not paying in commissions.
The best thing a buyer can do is find a
REALTOR® they are comfortable with, and stay with them. Do not
bounce around, having one REALTOR® show you one house, and another
agent show you something else. Let your REALTOR® know exactly
what you are looking for, and let them do the work.
Working closely with one REALTOR® can
bring about a lifetime of benefits. I know of one buyer who
has been loyal to the same agent for over 20 years. And
because of this, whenever that agent comes across a great deal, that
buyer is one of the people he calls. Had the buyer not
established such a loyal relationship, chances are that agent would
never have considered informing the buyer of various opportunities.
Looking through home buyers' magazines
can be entertaining, yet often (in a brisk market) those great deals
are gone by the time the publication has gone to print.
Therefore, you need an agent who will be on the lookout for what you
are looking for, and the moment it hits the market, inform you.
You also have less stress and more
protection with a REALTOR®, who can guide you through the process,
advise you of the necessary inspections, and let you know if the
house is priced reasonably.
To maintain his or her license, your
REALTOR® is required to take renewal classes, to keep updated
on current laws or important real estate issues. That
knowledge comes back to you, the buyer or seller. Your REALTOR® can
help you locate lenders, inspectors and title companies.
Last year a friend of my mother-in-law
decided to purchase a townhouse, and refused to go through a
REALTOR®, believing she would save money, by reducing the cost for
the seller. Not only did she not save any money, she later
regretted her decision. She had no understanding of the
restrictions of a townhouse, and the possible assessments, as well
as monthly fees. There was no representative to suggest
inspections, home warranties, and to assure she understood the
difference between owning a townhouse and her previous single family
home.
Other Links of interest
http://www.havasumagazine.com/RE/FHALoans.htm
http://www.havasumagazine.com/RE/conventionalloans.htm
http://www.havasumagazine.com/RE/Selling.htm
http://www.havasumagazine.com/RE/loans.htm
http://www.havasumagazine.com/RE/VALoans.htm
http://www.havasumagazine.com/RE/FAQ.htm
http://www.havasumagazine.com/RE/Interest.htm
http://sanerealestate.com/Mortgage.htm