One good thing for Realtors about the high gas prices is that clients are going to be more willing to listen to the steps to make home sales less stressful and frustrating.Short sales and Foreclosures have already done most of that, but I am not going to cover those topics here.
Here are my 5 Tips to keep the gas in your tank and shop for a home that won't break you:
1) Get PREQAULIFIED - PLEASE!!!!!! Many people want to look for homes to see if they might like something. Let me tell you this.... YOU WILL FIND SOMETHING YOU LIKE AND CAN NOT AFFORD! or you will look and find something and find out your credit is not ready to move you into your dream home. And please don't be offended if you call a Realtor about a home and they start drilling you about this. First of all, a Realtor has an obligation to his seller to make sure the buyers are credit worthy, not "just want to see" their home! It is part of our job! Second, it helps us better understand your needs to make your experience pleasant. Realtors that don't ask about this and want to drive you around to "just look" will be out of business before you get to the closing table because there gas tank is empty! The lender (your local bank or credit union) might be able to recommend a real estate agent if you don't have one.
2) Select an Real Estate Agent. Talk to friends, family, co-workers, your lender (as mentioned above). Our job is about helping you sort through the buying process. I do recommend to select one to be come your agent. (ABR - Acredit Buyers Agent) They can eliminate so many steps and I know a few, including myself will pre-view homes for their clients to see if it is even something they would consider. They can set up a listing search for you on line so you know what is new on the market or has had a price drop. They ask questions to help you find out what is most important in your home so that you are not looking at homes that don't meet that critera.
3) Do your search on line first. As mentioned above a Realtor can set one of these up for you. I do caution about using Zillow or Truila as some of the information is not accurate, however they have gotten a little better. I do recommend your local real estate broad and Realtor.com
If you don't know the area you want to be in, then again, an online search would be helpful to narrow that down. View local Chambers, Towns, City's and even schools can give you the information you need to make the perfect choices. One factor for sure...how far from work? Your dream home might be 40 miles away from work? Today you have to review your budget as to what you can afford for that as well.
4) Have your agent call and set appointments. Pick a day to see homes and let your agent call for setting up showings. You are not 'bothering" your agent! As a buyers agent we represent you. If you call the listing agent directly you may potentially exclude your agent from getting a commission. When you call on a listing and the experienced agent will ask you? "Are you working with a agent?" tell him/her the truth! The listing agent is working for the seller, NOT for you, that is why the buyers agent is a good thing! Your agent can map out the best route and save you a ton of time as well as gas!
5) YOU DON'T NEED TO LOOK AT EVERY HOUSE! On the same street or near by within reason, yes. You can look at 100 in your PJ's without leaving your home on line. (Tip 3) In my opinion if you looked at more than 15 your needs/wants need to be reviewed. If 3 bedrooms, 2 baths and a 3 stall garage is your liking, than if your agent is setting up 2 bedrooms or only 1 bath and 1 stall garages in your tours, you might want to reaffirm your wants. Most of my clients have looked at 8-12 homes. Some fall in love with the first one. If you are finding after the first 4 homes you toured with an agent, they just don't have the feel, it might mean you need to review your shopping list. Price, Location and Condition are the biggest factor than.
Agents will be more causious now with making sure a buyer is ready, willing and able so don't be offended. Remember, we don't get paid until the closing which could more than 30 days. Actually, more like 45-90 and even then could be longer. Agents have had more deals fall apart over the last few years that this too is affecting the way we do our business. As much as we love looking at home too, it has to produce something for our families too! I recommend interviewing the lenders and the real estate agents as well. Knowing you have someone you trust can limit the time you are on the road. Most agents are happy! Excited! No Giddy about driving you around to show your homes if you have followed these tips!
Finally, Yes, Agents may get a hefty check at the closing, but remember there are many expenses for Agents as well. We Don't get all of it! Sometimes not even half! They are in business and if gas keeps raising it is going to be an expense that hits everyone! Mostly those who drive....a lot...like Realtors! So enjoy the process of finding your new home and let the experts help you keep the money for your mortgage payment out of your gas tank! Enjoy the Ride!
All rights reserved. Charlene Hammontree JGR Real Estate, 2011
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