Finding the right realtor to facilitate your first-time home purchase can have an immense impact on the outcome. Who you choose dictates if you get the house, how much you end up paying, what homes are found for you to choose from, and many other crucial factors that it would be best to have handled by an experienced realtor who retains your best interest throughout the buying experience. As a Montgomery County first time home buyer, finding the right realtor can be difficult but by following the information provided here, your chances of finding a well-intended realtor are significantly increased.
What is a Realtor?
A realtor is someone who facilitates the home-buying process. These individuals have experience in real estate, are licensed agents, and are members of the National Association of Realtors, meaning they have more training and accreditation than real estate agents, who just have a real estate license in the states that they operate. A proper realtor will assist you in finding homes that fit your buying criteria, as well as guiding you through the sometimes complicated process of purchasing that home. From there they will help you to construct an offer and facilitate the purchase of your home. The main reason people use realtors is for their capability of finding homes, their experience in the home buying process, and their ability to secure more favorable terms.
How to Find a Realtor
There are several different avenues to take when looking for the right realtor for a Montgomery County first time home buyer. The most commonly used method is to ask friends and family for recommendations, preferably for someone who they have recently used. These referrals are based on the experience that the friend or family member has recently had, making it a good gauge for how your experience with that particular realtor will go. It is very important to secure a realtor who is familiar with the area that you are trying to purchase in. You can also attend local open houses to network with the realtor that’s present. Keeping an eye out for realtor signs in your area can also broaden your selection. Finally, if you are unable to source a realtor using these methods, you can call your neighborhood realtors. Be sure to shop around and compare realtors by asking several key questions.
Questions to Ask Your Realtor
There are different types of realtors that specialize in buying and selling. Along with making sure that your realtor represents you, the buyer, there are other important questions that you are going to want to ask to make sure that a certain realtor will guide the purchase in your favor. Besides finding out what services and type of representation the realtor provides, inquire about how much experience they have in your area. This is a good indicator that the realtor has a good understanding of how long homes typically stay on the market and other economic trends relative to your location. As a first time home buyer in Montgomery County, you are also going to want to ask questions specific to buying such as, what challenges you will face in today’s market. This will give you an idea of what the realtor knows about the local market and what difficulties you stand to face. Also, it is important to understand what the realtor will do to assist in making competitive offers and how they will negotiate with sellers.
Tips for Buyers
Before deciding on a realtor, be sure to shop around and compare their experience, their buying approaches, and their ability to maintain communications. These are all crucial factors that go into the relationship you will have with your realtor and in turn, will affect your buying experience. They are your representation and will influence the seller and their agents. Make sure that you feel comfortable with your realtor and reassure yourself that this is someone that you want facilitating a major purchase. The rate that the realtor charges should be around 5-6% of the final sales price, anyone who charges significantly more than that should be avoided. Finally, you will want to look into the realtors’ previous clients and see if they were satisfied with their work. With the realtor being the one who creates an offer, see how other offers and purchases were conducted with previous clients and see how they differentiate from the listing price.
Get the Best Rate as a Montgomery County First Time Home Buyer
By finding the right realtor as a Montgomery County first time home buyer, you set yourself up for a successful and advantageous home purchase. The right realtor will locate homes that fit your needs and wants in the area of your preference, formulate and facilitate competitive offers and ensure that you get a better deal than you would have without them. Once you have found a realtor who retains your best interest, you will need a mortgage broker that does the same. At Federal Hill Mortgage, you will be paired with team members who will guide you through every step of the home-buying process and secure great rates and terms on your mortgage plan. To find out the difference that Federal Hill Mortgage can have on your home-buying experience, call or contact us today!
