Ryan Ashby from First Colony Mortgage shares his tops reasons and the importance of working with a good real estate agent.
Buying a new home can be stressful. You want to make sure you choose a great house that will fit the needs of you and your family. It should be close to work and in a great neighborhood, with easy access to shopping and activities. The home should also fit within your budget and have all your many other requirements. The mortgage lender helps you with the financing and staying on budget. Luckily there is also someone that can work on your behalf to fill those other home wish list items. Working with a good Real Estate agent, along with a great lender can take many of these stresses off your plate as you consider your home buying options.
1. The Experienced vs. the Inexperienced Agent
Choosing a great agent can be difficult, there are many good ones out there, and we work with many. When someone has purchased or sold several homes, their experience can be a real advantage over a first-timer. Your agent can help negotiate the sale, or point out things with the home that could be potentially be problematic down the road. You want someone that is working for you and looks out for your best interest. An agent can help you from being exposed to a property that’s not right for you. Just as it’s important to work with an experienced mortgage lender, an experienced agent will find you that home you’re looking for.
2. They Understand the Neighborhood/Area
You may have found the perfect house floorplan, but you’ll want to gather more information about the area and neighborhood before you sign on the dotted line. How are the schools in the area? Is the home close to a railroad track or do airplanes fly over frequently? Are there big, loud events that take place near the home? What do the neighbors have to say? Real Estate agents are familiar with the local market and can help find answers to these questions. With their knowledge of the area they can also find homes with your specifications in your price range.
3. Negotiating the Fair Market Price
After you get pre-qualified for a mortgage to know what you can afford. You may look over local home listings and think one is priced too high, or maybe another is priced too low. How can you know? Can you find out if the home has other buyer offers already? How can you make your offer stand out without over paying for the home? These are questions that EVERY home buyer has. A good Real Estate agent can once again help you to find answers to all of these things. They can also negotiate in your best interest. They will negotiate your contract, to make sure you don’t go beyond what you pre-qualified for with your mortgage lender.
4.Condition of the Property and a Trained Eye
It’s hard not to fall in love with homes you look at, they may look perfect in your eyes. Homes may have symptoms that you cannot see: structural, leakage, and maybe just overall design. Were there additions or remodels made to the home? Were they done properly? Agents and home inspectors can help identify these types of things.
5. Will this Floorplan Be Hard to Sell if I Move?
Just because you love a home and its layout, doesn’t mean everyone else will. Get the advice from an agent who sells homes every day to know if anything seems amiss or could be a hard sell down the road.
6. Your Agent is your Real Estate Strategy Partner, Your Loan Officer is Your Home Finance Partner
There are so many things to consider when financing a home. How long will you live there? How long will you own the property? How quickly do you think you can pay it off? How much down payment can you afford? A good lender knows the available finance programs and can ask the right questions which can help you save thousands. An inexperienced lender may only know one or two programs, not the best fit for your individual situation. Choosing the right lender and agent will help you have the best home buying experience possible.