10 Things You Should Know About Working With a REALTOR

This is a continuation of my Homegain blog post. You can read the first 5 things you should know about working with a Realtor.

6. Don't Hire More Than One Realtor

This isn't Europe where there is no MLS system. In Europe home buyers have to hire several agents because there is not a central database of properties for sale. In the United States we have an MLS (multiple listing service) system where virtually all properties are located and it allows one Broker to sell another Broker's listings. This means you really only need to hire one agent that can access all of the properties for sale. Now, if you are looking in multiple cities you need to hire more than one agent but don't hire two or more agents in the same area. You are duplicating efforts and one of the Realtors is going to end up working for free.

7. Experience is important

Experience can save you several headaches and quite possibly thousands of dollars. Buying a home will be one of your largest purchases. You may want someone on your side that has extensive experience. Many of us have relatives with a real estate license but you might want to think twice about using them if they really don't work as a Realtor full time.

8. Listen to your Realtor (assuming they are good)

Experienced Realtors have gone through many purchases and can save you plenty of time. Quite often the first thing a homebuyer wants to do is jump in the car and immediately go look at property. This can be very inefficient. You can save yourself a lot of time if you sit in front of the computer or sit with your Realtor in their office and go through the MLS before looking at them in person.  Quite often with a little research you can eliminate many properties that are a waste of time. Instead of visiting 38 homes you may only need to see 12.work with your Realtor and have a strategy.

9.  Some Realtors Hate Buyers

Yes it is true. Many agents simply hate to work with buyers. Buyers generally take up a lot more time than a seller. A Realtor can manage many more sellers than buyers. The largest producers in just about every market are listing agents. They make the most money. Realtor 101 teaches you that you have to "list to last." There is a huge burnout factor with buyers. Can you image showing a buyer 50 properties over the course of several weeks or months only to find out that they purchased a home at an open house or simply has decide not to purchase? It happens all of the time. It is kind of like going to work and not getting a pay check.

10. Be ready to buy

If you are not ready to buy you don't need a Realtor. Especially, to go look at property. If you plan on buying in the future but are not quite there yet just call an agent or sit down with them in their office. Don't make them go show you property when you are not ready to make an offer. You can go to open houses by yourself.

Bring your checkbook if you are ready to buy. You will need an earnest money deposit to accompany your purchase offer.

I hope this helps. If you are looking to buy or sell Sarasota real estate please call us at 941.812.6272.