I love all aspects of Real Estate but mainly the people or clients I have had the pleasure of working with and for. It is most rewarding to see the look on their faces when you hand them the keys to their new home. Knowing that your buyers have just purchased the home they have been desiring is most rewarding.
When I first meet potential buyers, we sit down and have a get to know you moment. We talk about what their desires are for a new home, what are they looking for, really looking for. It does change at times as they begin the search. I listen and I hear with great intent, taking both mental and physical notes. I pay attention to every detail.
We then discuss finance, what do they think they can afford and what do they want to afford. Many times there is a difference and that difference is important especially in today's world. We discuss lenders and if they have not chosen a lender I give them a couple of names so they may interview them. This is important because they need to trust who they are working with and know that the lender will have their best interest in mind.
The preapproval (not prequalify) letter is most important before they begin their search in earnest. It tells them the price range they should be looking in and hopefully the lender has explained the many ways of financing, and again where they should be for their best interest. Plus, should they find that home they love, they may not have the time to get that "Preapproval" letter and the home may be gone. It needs to accompany the sale agreement.
I give to them the necessary papers to read and sign such as the Oregon Property Buyer Advisory/Engagement letter and the Disclosed Limited Agency Agreement and the Oregon Real Estate Agency Disclosure pamphlet, we go over these so they understand what they mean.
The following steps are steps taken to make their search and selection the best that it can be with as little stress for them as possible.
- They have given me what they are looking for in a home and that is how I begin the search, in areas they have indicated they would like to investigate. Some know exactly where they want to be because of schools, location, access to freeways, whatever it is. Most of the buyers I have worked with have already done a lot of research on the web looking, they are informed.
- I prepare a list of homes, they take a look at the information and most times will drive the different neighborhoods themselves or have already driven the area. Once I have been with them a short while, I know where they would like to be at that time. They are always subject to changing their minds and sometimes circumstances.
- They decide what they would like to see, I make arrangements. We take a look. I try to not show more than 4-5 homes at one time, it can be confusing, although I give them the listings on separate sheets with what I would call the Ben Franklin approach. Likes on one side, dislikes on the other. It does help keep things straight.
- They find the home they want and we write the offer. I have done the homework for them with the comps and they decide.
- I present the offer. If accepted, fabulous, if a counter then we work with that. I negotiate for my client or buyer for the best price I can.
- Offer accepted. Buyers meet again with lender and the paperwork begins. I am always in contact with the lender with the buyers permission and stay on top of the progress. I have never had any problems with this scenario, plus it may help the lender to better understand what the buyer might be asking in their questions. I have had this happen many times and when I explain what the buyer is "really" asking then the question gets answered.
- Inspection is ordered, we have a ten day window from the time of acceptance. We do as soon as possible. I am there as well as the buyers, this is agreed upon beforehand.
- Inspection goes well, if there are any repairs we put them in an addendum and submit to the Listing agent.
- I have already made contact with Escrow, making sure all is getting done.
- We wait for the appraisal and when it is good we all take a sign of relief and move on to closing. Again I am in close touch with Escrow and the lender so my buyer feels good about everything. I don't bug them, just keep in touch.
- We go to the closing table, usually their lender is there. I have never been at the table with an attorney and the seller and buyer sign at different times. They never meet during this process.
When all is said and done, funded and recorded, I give the keys to the buyer, meeting them at the home. It is the best time ever, seeing the looks on their faces. I usually take photos.
I am there for my buyers 100% never wavering, they can call me anytime with questions, my phone will always be answered, I am not too busy to return a call, my day is never interrupted.
There are always untold emails, telephone calls, preparation for showings, negotiations, all kinds of things that are behind the scenes and not visible to the naked eye that all of us do. If we were to add up the hours, the real hours and then divide by the commission, the hourly wage would not be so high. Yet, I love this business and it is what I do because I want to.
They hire me to do a specific job and that is to help them find their new home with as little stress as possible during the process. I will make sure it is all handled with the same care that I would want my own business handled.
This is a small peek at what I do or what perhaps any of us do to help those who either want to purchase that American Dream or those who want to sell their home for whatever the reason.
Mary Stewart Sells Homes Not Houses
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