What to Expect from a Realtor
Choosing the right realtor can help make the home buying process easier for you. One you have selected a realtor, here are some important questions you should ask.
Advantages of working with one realtor
- Is there an up-front fee, and will you explain your commission structure for me?
- What percentage of your business is working with buyers and sellers?
- Do you have a checklist available for me to complete before we begin my search?
- How do you begin your process of helping me select a home?
- How do you conduct a competitive market analysis for me?
- Will you check out the area where I want to buy for any unknowns, like future freeways, landfills, airports, etc., and inform me before I write a contract?
- What is the average time you spend with each client before they write a contract?
- How long have you worked in the Arizona/Texas market?
- How many homes have you sold in the last year?
- Will you act as a buyer/broker agent on my behalf?
- Would you provide references?
Working as a team with your realtor can make your home purchase easier and more pleasant. Plus, you'll enjoy these other great benefits:
Once you have decided to commit your loyalty to your realtor, there are other ways you can help.
- You become familiar with how your agent conducts the home buying process.
- The agent is committed to you because of your commitment to him/her.
- The agent becomes familiar with your needs, concerns and perceptions.
- The agent has access to the same inventory as any other agent, i.e. Multiple Listing Service (MLS).
- You avoid any discomfort over double-agent conflict.
A realtor can provide you with the following services:
- If you walk into an open house unaccompanied by your realtor, he or she can no longer help you obtain that particular home. The sales person holding the open house becomes the selling associate and your realtor will not be compensated. Call your realtor to accompany you.
- All members of a Multiple Listing Service can show all listings. It is NOT necessary to call each office to see their listing. Your realtor has access to all the same information.
- Be candid with your realtor about your price range and your reaction to each property. Any financial information revealed to them is regarded as confidential.
- If you see an ad in the paper that interests you, call your realtor and ask him/her about it. It may be a home you have already seen and did not recognize from the ad.
- In fairness to the advertising office who listed the ad, do not inquire about the house if you are not using their service. Let your realtor make the inquiry. He/she can obtain more information from the fellow realtor, which will ultimately be more beneficial to you and all other parties concerned.
- If you are interested in purchasing a new home or a second home in a planned community, have your realtor accompany you and register you. Your realtor can counsel you on which development will best suit your lifestyle.
Brokers, the listing agent, and your realtor must treat all parties honestly and fairly. They must:
- Information about current listing of properties for sale.
- Access to properties.
- Assisting you in writing the purchase agreement.
- Help in comparing the different properties' relative values.
- Information on schools, zoning changes, flight zones and more.
If you choose to have a realtor represent you as your agent, you should enter into a written agreement that:
- Present all offers to the owner.
- Disclose material facts about the property that are known to them.
- Offer the property without regard to race, creed, sex, religion, national origin, handicap or family status.
- Defines the relationship between all parties.
- Establishes how your agent will be compensated.