Hello: I thought it was time again to write a consumer-oriented blog as it has been a while. So here goes. If I were the customer I would:
Start my research online for a realtor, loan officer, etc. Why do I say that? Because most of you do anyway and it's a quick way to educate yourself about home values, interest rates, etc. I heard a statistic that as many as 85% of you start your real estate hunt online. Message to real estate professionals: Have an online presence if you don't already! Alot of us don't necessarily care for everything Zillow has to offer (www.zillow.com) but let's face it, Zillow is extremely customer friendly.
Next, ask yourself what's most important in working with someone who is going to help you with your real estate transaction. If it's the lowest rate and fees, then there are discount brokerages out there that fit the bill. They may even be out-of-state but if that's what you're after, that would be the way to go.
If you're looking for a local presence with personal attention, then you should take the time to get referrals from friends, family, and co-workers to at least one real estate professional. I remember when my wife and I bought our first house (I was not involved in the business at that time) and we interviewed 3 realtors before deciding on one. We were in a hurry to buy as our lease on our rental was ending soon. Ultimately we chose a realtor who indicated she had the time to help us. The other two were one, part-time and two, too busy.
Depending on your time frame, take the time to talk to more than one real estate professional. Ultimately you'd like to find someone who you connect with and knows the market. I could tell you to find someone experienced but I think it's even more important to find a real estate person who knows the current market and, if they don't, is not afraid to say so and get you the answer. In my business, things are changing every day. I'm finding that people want to work with someone they trust and know will be around tomorrow in these uncertain times. A mortgage professional, for example, should know about the most current loan programs available, interest rates and what determines them, and how credit scores can effect your loan. Personally, I like to meet all my borrowers. Yes, it restricts the areas I can loan in but it allows me to see if a longer-term relationship can be developed. I think we all yearn for that.
I realize so much of this is common sense but then I hear the horror stories about real estate deals gone bad. And it puts a blight on our industry. In summary, I hope this helps. Remember once/year you can check your credit for free at www.annualcreditreport.com. Good luck and have a great weekend!
Paul
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