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- Real Estate 101 – Chapter 2 – Why work with an Agent?
Blog for First Time Home Buyers
OK, so in chapter 1, we covered what a Realtor is, how they get paid, and why we
often get the bad-rap in on-line discussions about real estate. What else do you
want to know about? Let me know.
- Now, as a real estate buyer, why should you work with a real estate agent?
 After all, you do have internet access, and
you can spend some time and learn all you
need to know to make an offer and buy a property. That is the truth. But do you
really want to? If you are going to that kind of trouble, it certainly would
make sense if you saved a lot of money, or got an under-market price on a
property. And it is possible that you could. But what are the odds of that
happening, and how much time and effort would you need to expend to achieve
savings and discounts? - As I mentioned in chapter one, you don’t have to pay a
dime to a buyer’s agent who will help you search for and buy a house. The exception may be if
you buy a FSBO (for sale by owner), but even then, FSBO sellers are generally
willing to pay the buyer’s agent something for bringing a willing buyer and
handling the transaction. And still, what you would pay would voluntary and
negotiable.
I have been in sales of one kind or another since I was 24 years old, and one thing I have learned is that most people feel that they already
know enough to proceed on their own in making purchases. With most things, that
may well be the case. You can go on-line and read reviews, you can comparison
shop, you can even try things for free for a limited time. You are comparing
apples to apples and oranges to oranges.
 How about a house in the city of Seattle? Or any established city for that
matter. I’m not talking about cookie-cutter tracts in the burbs – I’m talking
about neighborhoods in the city where a brand new house might be next door
to one that is 100 years old. Where no two houses are alike. What should you
look for? What should be of concern to you? Is new always better than old?
Do you feel confident that you can walk in on your own and trust the listing
agent or FSBO seller to give you the low-down on the home from sewer to
roof? From wiring to appliances, from windows to siding, from dry basements
to leaky ones? Is there a gigantic hornet’s nest in the rafters?
Are you a condo buyer? Do you know what a Re-sale certificate is? A Public
Offering Statement? Conditions, Covenants, and Restrictions? Have you considered
Dryvit, zoning, wiring type, or past legal issues such as liens and lawsuits? Hmmmm – maybe a free counselor in the form of a real estate agent might not be a
bad idea after all.
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 This should really be a no-brainer, however, there is human nature to consider.
You need to find an agent who has YOUR best interests front and center. Not
someone who is thinking how their sales commission will cover the car payment,
the credit card bills, trip to Vegas, etc. This is the tough part, and that is
where you need to focus your energy. Find the right agent, and the rest will be
done for you. Ask around – go online – ask questions of your agent. And please
realize that asking how many homes they have sold is not necessarily the
definitive criteria. The more homes an agent is selling, the less time they have
for YOU.
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- You need someone with plenty of experience ideally, but many agents who
are new have a mentor, or a good broker to make sure that they don’t make
mistakes. Either way, forget about the “Top Producers” being the best, and focus
on customer service that takes care of your personal agenda. I’m not saying that
all of the heavy hitters are bad, it’s just that they are very, very busy people. I personally would want
someone who can really devote their primary energies to finding me a home and
handling the transaction – someone who is not primarily focused on rounding up
the next client.
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