Hire A Realtor Or Buy Alone?

hiring a realtor to buy first house

I hear all the time, “I bought my home on my own.  I went to an open house, met the agent and made my offer.”  I’m surprised and intrigued.  “Who represented you?” I ask.  “Me!” They say in a proud tone.

Many are not aware that the real estate agent that is at the open house is working (representing) the seller of the home.  Their sole job is to get the best price for that home, not to give you the best price.  Therefore, if you are representing yourself, you may not have gotten the best deal.  That is why attorney’s hire a lawyer to represent them in court.  You should consider having someone (A Realtor) represent you in buying one of the most significant transactions in your life, a home.

Why hire a Realtor to represent you? A realtor is one who is authorized by the Realtors’ Association on a national level.  They are licensed in their state to represent clients in real estate transactions.  Therefore, they will know how to navigate the process to help you, guide you and bring you the best results in your home purchasing process.  They are experienced negotiators, they know the market, therefore, getting you the best price, they understand the circumstance best and will get you to the finish line faster.

Realtors must also fulfill conditions like:

  • Ethical and moral behavior towards the client.
  • Maintain and carry on the standard of the whole association.
  • Obey the rules and regulations of the state in which they are serving. For example, they must follow the property right rules, taxation policy etc.
  • Be courteous, loyal to clients and keep all client information confidential

How to Hire a Good Realtor?

How do you hire a good real estate agent who meets all the criteria and has the right qualities?

A real estate agent is one which deals in a house, property buying and selling. These agents are aware of properties in the area that are available for sale.

They will be informed of everything you need to know about the property. The first step to finding a good agent is to contact one.   Doing an interview will help you find the agent you are looking for.

The purpose of an interview should be to check all the qualities of the agent.

  • Is this agent the right fit for your home buying process?
  • Do they have the qualities you are looking for in an agent?
    • The agent must have qualities like ethical behavior, moral aspects, working capabilities, ideas, and motivation toward the work.
    • Another important factor to consider is the agent’s experience. Do they have positive feedback from previous clients?

Also, ask how many properties/houses were closed by them. This will be a key step in learning the expertise of the agent. If the agent has never made a deal, you may want to keep searching for a more qualified agent.  Also, make sure your personalities are aligned as the process is stressful, you want to make sure that you “click” and he/she will be a good support during the entire process.

Hiring a Real estate agent

Once you find the real estate agent that meets your demands and requirements for the work, then you should schedule a meeting.  At the meeting, the Realtor will have a contract for you to hire them as your representative.

Contracts are an essential step in the agreement between you and the real estate agent. The contract will protect you from any violation of rules or regulation on the agent’s part. It will also allow you to void the deal if your needs are not met according to the contract.  Ask if there is a cancellation clause or penalty if you decided not to continue to work with the real estate agent.

After the contract is signed, discuss with your real estate agent your requirements of the property you wish to purchase. Some of the things that are important to you such as:

  1. Number of bedrooms, sizes
  2. Kitchen, washrooms, TV lounge, car parking etc.
  3. Location of the house.
  4. Most importantly, the range of your budget.

Make sure to have a list of all the things that are important to you to help your realtor find the perfect home for you.  Now, that you have hired the real estate agent to work with you, you can begin your home search.  Good luck!

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M. Chacon Torres Real Estate Broker