Buying a home for Millennials is a lot different than what it was like in previous generations before the internet existed or just getting started. The digital world has created a plethora of information easily accessible with just a quick search. But is it reliable? Credible? Truthful? Current? Or are there entrapments to dangerous websites by dishonest people?
The home-buying process begins with someone you can trust who can explain the role a licensed real estate agent performs to assist and give you the power to purchase a home. Choosing an expert in the field of real estate sales can save you time and money. An Agent who provides in-depth information that is timely and important to know makes you a better decision maker.
Agents who have been in the business a long time has a lot going on for them and can benefit Millennials because they understand the nuts and bolts of real estate sales because of years of training, using current technology, and completing transactions for both buyers and sellers. A real estate agent licensed by the state has had extensive training and continuous education that goes beyond the training period and obtaining their license.
In Texas, a licensed Real Estate Agent follows the Canons of Professional Ethics and Conduct which includes: 1) Fidelity, 2) Integrity, 3) Competency, 4) Consumer Information, 5) Discriminatory Practices, and 6) Information about Brokerage Services. Austin is the State Capital where all Texas Laws for real estate agents begin.
To become licensed in the State of Texas, an agent begins by being sponsored by a licensed Broker. Some agents and Brokers remain with a Broker of Record; others go on to become their own Broker with additional education, fees, and training. To qualify, all must be citizens of the United States or lawfully admitted alien. A DATCA does not qualify. At minimum 18 years old and meet the Texas Real Estate Commissions qualifications for honesty, trustworthy, and integrity. Pay application fees, get fingerprinted, pass exams, have a background check, submit qualifying education including 180 classroom hours including 30 classroom hours in Principles of Real Estate I, 30 classroom hours in Principles of Real Estate 11, 30 classroom hours of Law of Agency, 30 classroom hours of Law of Contract, 30 classroom hours of Promulgated Contract Forms, and 30 classroom hours of Real Estate Financing. Licensed exams are administered by PearsonVUE, a testing service company. If you fail, the exam three times, additional education will be necessary. A person remains inactive until they are sponsored with a licensed Broker who requires additional training, office fees, and fees for the MLS, Association of REALTORS, etc. Plus, license renewal and fees, including education is continuous.
The whole business of real estate continues to evolve over time. For new buyers, having the purchasing power to buy instead of rent is a big accomplishment. Inflations is rising. Inventory remains low. Prices are accelerating. New and old Information is circulating wildly in cyberspace. Having reliable information at the tip of your fingers is critical but having someone you can trust is the greatest gift you give yourself.