Hamilton Herald Masthead

Editorial


Front Page - Friday, May 31, 2024

Realtors are essential in homebuying




Our primary goals as Realtors are to ensure you’re well-informed and that your homebuying experience goes smoothly. Navigating the real estate market can be complex, and having a professional by your side can make all the difference.

This week, I’m focusing on the buyer’s side of the real estate transaction by offering a few key points from the National Association of Realtors’ “179 Ways Agents Who are Realtors Are Worth Every Penny of Their Compensation.”

Here are just a few reasons why working with a Realtor is crucial, and how a Realtor can help you at every step of the process:

1. Realtors communicate the working relationship based on state law, the Realtor Code of Ethics and their broker’s policies

One of the first steps Realtors take on their journey with a buyer involves communicating their working relationship based on state law, the Realtors Code of Ethics and the broker’s business policies.

This transparency ensures that buyers understand their rights, the agents’ obligations and the ethical standards that guide every decision and action. It’s about building trust and ensuring clients feel confident and informed throughout the process.

2. Realtors explain the local market and how it impacts the buyer

The real estate market varies significantly from one area to another. Explaining the local market and how it impacts buyers is a critical part of a Realtor’s job.

Realtors provide insights into market trends, current inventory levels and pricing strategies, helping buyers make informed decisions. Knowing whether it’s a buyer’s or a seller’s market can influence their approach and expectations.

3. Realtors understand the buyer’s budget and what they’ll need financially

Understanding a buyer’s budget and what they need financially is fundamental. Realtors work with buyers to get a clear picture of their financial situation, including pre-approval for a mortgage, and help them set a realistic budget.

This step is crucial to avoid surprises down the road and ensures they’re looking at homes within their financial reach.

4. Realtors help the buyer understand what property their chosen budget will buy

Many buyers have a vision of their dream home but might not know what their budget can buy. An agent helps the buyer understand which properties their chosen budget could buy, aligning their expectations with the reality of the market. This ensures the client focuses on properties that meet their needs and financial parameters.

5. Realtors share estimated potential out-of-pocket costs to complete the transaction

Beyond the purchase price, there are various out-of-pocket costs associated with buying a home. Realtors will explain these estimated potential out-of-pocket costs, such as closing costs, inspections and moving expenses. This comprehensive financial overview helps the buyers plan effectively and avoid last-minute financial stress.

6. Realtors explain the timeline for house hunting, mortgage approval and closing

The home buying process involves several stages, each with its own timeline. A Realtor will review the timeline for house hunting, mortgage approval and closing so buyers know what to expect at each phase. Understanding these timelines helps buyers plan their moves and make informed decisions.

7. Realtors educate the buyer on the immediacy of new listings appearing on their MLS and the lag time for them to appear on some websites

New listings can appear quickly, and timing is often crucial. Educating the buyer on the immediacy of new listings appearing on their MLS and the lag time for them to appear on some websites ensures they won’t miss out. A Realtor will make sure the buyer is among the first to know about new properties that match their criteria.

8. Realtors schedule showings and provide access to all listed properties as soon as they become available

Scheduling showings and providing access to all listed properties as soon as they become available on their MLS is another key service Realtors provide. This prompt access is essential in a competitive market where desirable homes can sell quickly.

9. Realtors constantly reevaluate buyers’ needs and refocus property showings to fit those needs

Buyers’ needs and preferences might evolve as they view different properties. Constantly re-evaluating buyers’ needs and refocusing property showings to fit those needs is a dynamic part of a Realtor’s service.

By staying attuned to their feedback, an agent can adjust their strategies so they can better find a home that fits the buyer’s lifestyle and desires.

Choosing to work with a Realtor offers buyers a wealth of knowledge, experience and ethical guidance throughout the home-buying process. From understanding the market and financial planning to accessing new listings and adapting to their buyer’s evolving needs, Realtors are committed to making the home-buying journey as seamless and successful as possible.

Trusting in a professional who prioritizes their client’s best interests and is dedicated to helping them find their dream home – That’s Who We R.