It is time to start looking for that new house. You have a Realtor picked out, but they are really good at what they do and you don't want to waste their time while you try to figure out what you want. You think you will use someone less experienced to help you look around.
Chris Ann Cleland wrote a blog about this last week, You Aren't Saving Your Buyer's Agent Anything By Calling the Listing Agent Directly . I re-blogged it because I think there is a big misconception about how our industry works, but a conversation I had with another Realtor friend this morning made me think it was worth addressing again with a slightly different angle.
My Realtor friend's sister called her yesterday. The sister is currently renting a property and has a 2 year lease that continues for another 14 months. She is hoping to buy at the end of her lease period and called to let her sister know this. She also let her know that because my friend, a professional Realtor, mind you, is so busy, she would look around for the next 14 months or so with a friend who just got their license. Not cool! Let me explain why...
Realtors are 1099 employees. We don't receive a salary. We are not reimbursed for expenses, including gas. Every expense we incur, with rare exceptions, is paid out-of-pocket with the hopes of future earnings. Yes, sometimes we waste significant time and resources on people who don't buy from us, for whatever reason. We take on new clients in good faith. A client who uses us to look at property and then writes a contract with someone else is treating us unfairly. In the end, we receive nothing for the time we have spent and have to claim our expenses on our taxes against earned income.
Unfortunately, I don't think the public really understands how we work and how we earn our income. I know that if they understood, they would make sure to call the right person at the right time for help.
If you are considering the purchase of a new home, select your Realtor and then ask them for help. As Chris Ann said in her blog, we like to earn our commissions!