There is  public misconception of what a Buyer's Market" truly is.  This is evident on a daily basis.  There is a false expectation that when the phone rings, the REALTOR® will be so over eager, overanxious, and unprofessional as to jump like a trained circus dog through a hoop of fire to show an unqualified lead a home. Hmmm. Let's examine why REALTORS® ask questions.

WHY DO REALTORS® QUALIFY LEADS AND INQUIRES?

The process of buying a home, is very different from simply looking at homes. One is a spectator sport, the other is business.  While it is necessary to first look before you leap, the purpose of having an EXPERT REALTOR® assist you, is first make sure you have a viable working budget, and have prepared properly to act on the decision to purchase a home. Having done that, the REALTOR® you are working with  is then able to gain access to the properties that would best fit your needs and budget.

CHANGES IN FINANCING

The requirements on Home loans have changed.  Too often the public is unaware of what is needed to be able to make that all too important purchase.  It is no longer a No Money down market.  You will need to obtain financing in most cases to make the dream of owning Real Estate a reality.

A FEW BASICS

Know your credit score

Have verifiable Income

Know what you borrowing limit is

Have Down Payment Money

Have Closing Costs

Be Prepared to pay for a Home Inspection

There is no "sign and drive" in Real Estate. 

You have Consulted With a Lending Professional and HAVE A Pre-Approval Letter in Hand.

WHAT TO EXPECT WHEN YOU CALL A REALTOR®

A REALTOR® is a licensed professional person who specializes in the sale and acquisition of Real Estate.

They are familiar with the laws governing the transfer of property.

The process of Transferring Property

Contracts (language and proper execution)

Handling of Escrow (or good faith deposits)

And are charged with Protecting The Public

Disclosing ALL known Facts which materially affect the Value of Real Property.

THERE IS A CODE OF ETHICS

One of the first questions a REALTOR® will ask you is:

Are you working with a REALTOR® ?

This is NOT for the purposes of solicitation.

The Code of Ethics REALTORS® abide by, has rules which govern permissible behavior.

Interfering with an existing relationship is not permitted.

THE PURPOSE OF SETTING APPOINTMENTS

Once you have a REALTOR® to assist you, they will confirm "SHOWING INSTRUCTIONS" with the REALTOR® representing the homes you wish to view.  There will also be a "Sellers Disclosure" on file for any homes you are serious about buying. This document, tells a buyer the known condition of the property.

While the impulse to "see a home" is tempting, it is important that you are first qualified to actually purchase the home you are interested in seeing.

WHAT A BUYERS MARKET MEANS:

There are an adequate homes for sale

WHAT A BUYERS MARKET DOESN'T MEAN:

All REALTORS® are desperate and will jump. This is a big misconception.

A REALTOR® is a professional.  Please treat them like one.  The license they hold, is governed by the State in which they practice.  They have been to school and tested by the State for proficiency and competency with regard to the laws and rules put in place to protect the public in their field of expertise.                                They are bound by a fiduciary relationship to the person they represent.

A REALTOR® operates a business.  Regardless of which moniker (Brokerage Company) Appears on the sign, all REALTORS® operate a business.  They are in sales.  The Commission they receive (from the Seller of Real Property) is only paid when a Property Sells which is at closing.  There may be several obstacles to overcome in the process-REALTORS are problem solvers.

WHAT A REALTOR® IS NOT:

A Chauffeur

A Tour Guide

Desperate

REALTORS® by and large are your greatest tool in locating the home you want to buy. Circumventing the practices and principles put into place, place a consumer in jeopardy.  REALTORS® have proficient knowledge of prior sales, the current market value of Real Estate Properties, and are expert negotiators as well as competent contract writers. They will guide you throught the process and explain all of the essential terms and conditions affecting your sale. In other words...they are State Licensed Local EXPERTS.

If you are serious about wanting to buy or sell a property, interview several professional before deciding which one works best for you.  They are there to Protect Your Interests.

Real Estate is LOCAL.  Consult an Expert.