There is more than one way to buy a home. But the best way is to use a licensed Real Estate agent to help you. After all, you don’t do this every day. A licensed Real Estate agent actually does do this every day. Maybe you’ve never done it before. An agent has done it many times. A good agent will help you focus on your needs, refine the areas of your search to only what might fit you and oversee the offer, negotiation, and closing on your new castle. Your home search and purchase will take around eight weeks, give or take, maybe longer. A good agent will keep the process on track for you.
When you choose an agent, it’s best to choose a full time agent. They’ve made the commitment and it’s their livelihood. They will be available when you are to answer questions and give guidance. Chances are very good that they’ve kept up with the changing marketplace as well. You can and should ask questions about their activity in Real Estate. How long have they been in Real Estate? How many properties did they broker last year? What areas of town are they familiar with? Do they know about school districts in the area where you want to live? Can they provide references from other clients? You might also know a friend who is in Real Estate. If you decide to consider them, these questions are still fair to ask them, too. If they can’t answer them to your satisfaction, move on.
An important thing to remember is that even though your agent is working for you during the search and purchase of your new home, you will not be paying him or her for this service. Your agent will be compensated by the seller’s agent at close. The seller’s agent is getting paid an average of 6% of the closing sale price to help sell the property you are buying. The selling agent agrees with the buying agent (your agent) to split that 6% commission 50/50. So take every advantage you can of your agent’s experience and knowledge knowing the person whose house you will ultimately buy will be paying for all of it!
If you are starting the search for a new home and you need help, please call me at 918-809-5199. I am an experienced full time agent who has been brokering residential properties in the greater Tulsa area since 2005 and I love my job. I will enjoy helping you find your next home.
Next: What do I do now? Part 3 – House hunting.