What Your Realtor May Not Tell You

When buying a home, a good Realtor is a valuable resource, especially if it’s your first time. They can guide you through the neighborhood and the homebuying process, which can get complicated. They know mortgage brokers, inspectors and sometimes even listings that the rest of the public does not.

Many people like to consider themselves armchair experts when it comes to real estate, but the business is a nuanced one, best navigated by a professional. Here is something that most Realtors are too polite to tell you.

 

Qualified clients are my priority: If you have been preapproved for a mortgage, know how much you can put down and understand debt-to-income ratio, then any broker will be happy to spend day and night finding you the perfect home.

 

If you’re just getting your feet wet to either rent or buy a new place or don’t quite have the cash to start the process, then go to open houses as opposed to a private outing with a broker. Open houses are designed to let people look and ask questions without wasting a Realtor's time. Along the way, you may find a broker you want to work with who can get into specifics for your budget and needs, when you’re ready to pull the trigger.

 

Generally, brokers will ask you upfront if you’ve been preapproved for a loan. If you haven’t, they may ask you to call back when you have all your paperwork in order.  This is because for a Realtor, time is money.  At the end of the day, everyone hopes to be paid for a job well done.

 

If you are just getting started, a good Realtor will provide you with clear direction on how to begin the process and will continue to be available to answer questions along the way.

 

Nancy Puder is a real estate broker at Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!