For many of you, the start of a fresh year means resetting and rethinking goals; both long and short term. Purchasing your first home, a second/vacation home and/or investment property may be on that list of goals. Great, so you are ready to start the process. Most important question to ask yourself is "do I have a trusted advisor working with me?" We are in midst of uncharted territory in real estate; historically low interest rates, extremely hot sellers market, unknown/unstable employment and income.
IMPORTANT: Buyer's agent are paid commissions as a result of the commission paid by the seller, not the buyer. So why not have a professional by your side to assist with contracts, negotiations, education and pricing? Education is going to be key, even if you're a second or third time buyer, so do not be sure to "interview" your potential buying agent to ensure they have the knowledge and experience (and/or team) to ensure the best possible outcome for you.
Here's a quick checklist of questions you may want to consider:
- Are you a sales broker, broker or sales agent?
- How long have you been affiliated with your brokerage and what differentiates your team from other firms?
- Are you an independent contractor or do you work as part of a team?
- As part of your service, how much time will you dedicate to education on the current state of the real estate market?
Whoever you choose as your buying agent, do not be shy in asking as many questions as needed to feel 100% secure that you have a trusted advisor by your side, an agent for life! Happy house hunting!