Buying a home is undeniably a taxing experience. It is time-intensive, stressful, and downright exhausting.
Luckily, a solid realtor can offer the resources, advice, and options you need to streamline the process. But, finding a reliable real estate agent who understands the local dynamics and obstacles of buying a home can be a challenge in and of itself.
The good news is that learning from common mistakes that first-time home buyers make when choosing a realtor can help you avoid them, thus making your home buying experience less overwhelming.
Here are common mistakes that first-time home buyers make.
Picking an Agent With No Strong Track Record in Your Market
When it comes to a real estate agent, you want someone who knows the area and has closed several deals in the region.
In other words, you shouldn't choose a realtor just because they are your neighbor, friend, or family. Instead, you need to make a conscious effort to find someone with a proven track record.
Your first interaction with the realtor offers the best opportunity to gauge their understanding of the local market, communications skills, work ethics, and familiarity with applicable rules and regulations.
Alternatively, you can use an online resource that does all the hard work, such as Home & Money, to help you spot a reputable real estate agent in your local market.
Choosing the Agent With the Lowest Fees
Every realtor is unique - offering different levels of skills, experience, approach, and strategy. Their availability and customer service will also vary, and all these variations are often reflected in what they charge.
In most cases, first-time home buyers pick the cheapest real estate agent, thinking they will deliver the best results, but that's not always the case. Most cheap realtors do not have much experience and skills, meaning they may not offer the best value.
A good way to avoid making this mistake is by identifying several potential realtors and negotiating their rates. If they agree to lower their fees significantly, they probably lack the expertise and skills you need, so you may want to take your business elsewhere.
Not Doing Your Own Research
One important reason to choose a realtor is to get their professional expertise and guidance in your home buying process. However, some new home buyers tend to blindly trust everything their realtors tell them, which may sometimes yield disappointing results.
Whether or not you are buying a home for the first time, you shouldn't believe every piece of advice from the real estate agent you choose.
Instead, you need to feel comfortable questioning their advice and even take your search further into the local market. That way, you will easily tell when your realtor is misleading you and make your own decisions.
Choosing a Real Estate Agent Without Asking for References
Picking the first realtor they come across is another mistake most first-time home buyers often make. While doing this may seem to make your home search less overwhelming, there's no guarantee that the first real agent is best suited for the job. Therefore, you need to compare several options.
One of the best ways to do this is by first identifying several potentials. You will then need to compare them by asking for past client references or testimonials to establish their ability to deliver.
While you might want to call or email past clients to get their experiences with the realtor you want to choose, keep in mind that not everyone will feel comfortable talking to strangers. However, a reputable real estate agent must have a few clients willing to ascertain that they are good at what they do.
Conclusion
Now that you know the top mistakes you may make when choosing a real estate agent, it's time to get out there and start shopping around. Remember, not all real estate agents are created equal, so you'll have to do extensive research to ensure you pick the best.
