Wednesday, July 13, 2011

Helping the Realtor Help You

Buyers should realize that a Realtor's primary purpose is to sell homes--not be a tour guide, psychoanalyst or market data source. With all the resources currently on the Internet, a buyer should be prepared with a defined list of needs to help the Realtor guide the buyer to the best valued house  within his/her parameters. So what is the information you will need to provide to the Realtor?

First, determine a price point. This decision may seem obvious, but several factors influence this outcome. Is the deal going to be cash or financed? If cash, will there be enough extra money to pay for the renovations. If financed, the buyer must get pre-approved for the purchase. Financing is difficult to get currently, so the buyer shouldn't assume that the amount of money they want to finance will be available. Get pre-approved. In today's market, that is the first question that comes out of a realtors mouth.

Second, decide on a location. Drive around neighborhoods and determine where you want to be. Realtors will certainly advise you on neighborhoods that fit your financial or physical parameters, but legally, they are not allowed to confirm or deny specific demographics for neighborhoods.

Finally, create a list of "must haves". Not "wants". For example, if you currently have a pet and you must keep the pet in your next move, that would be a "must accept dogs at the requisite weight and breed".  A want may be a preference for a pavered drive--instead of a stamped concrete--but it isn't essential to your move.

If you do some prework before you meet with your Realtor, he/she will be able to show you properties that are on target.