Smart Borrower Center
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You’re ready to look for a new home. But like most people, you need the assistance of a committed real estate agent. Here are seven tips to help you make the most of this important relationship:
1. Work exclusively with one agent. Find someone you trust, and stick with him or her. Otherwise you’ll be looking at the same house twice or wasting valuable time explaining your priorities to several agents. Many of the best agents will ask you to sign an exclusivity agreement before agreeing to represent you.
2. Respect your agent’s time. Calling in advance if you’re going to be late, for instance, allows your agent and owners to make other arrangements. Your agent will be willing to give you more of his or her time if you are considerate and don’t waste it.
3. Be organized. Do some research before you begin looking. And make sure that your financing and documentation are in order.
4. Keep your expectations realistic. Although visions of mansions may dance in your head, you may only be able to afford a two-bedroom condominium. A good agent can tell you what you can buy based on your budget and current market prices, and should show you only homes in that price range. He or she may also suggest you get pre-qualified for a mortgage so you’re prepared to move quickly when you do find the right house.
5. Establish must-haves and deal-breakers. Why waste time on a house with no parking nearby when you have a car? Why look at a one-bedroom condo for your family of six? Establish your needs and wants as early as possible. Then provide your agent with two lists -- features you must have, and those you are dead set against. You’ll both save time.
6. Let your agent choose some of the houses you view. Of course you’ll want to see houses for which the listings pique your interest. But who knows? Maybe that little fixer-upper your agent suggests is just the thing for you.
7. Provide good feedback. To help your agent figure out exactly what you’re looking for, tell him or her very specifically what you liked or didn’t like about every property you see. If your requirements change, or you realize that you don’t like bay windows after all, let your agent know as soon as possible.