Proper home buying requires proper home-buying etiquette. Here’s what you should do.
I’m back again with another Talk With Todd at 12. Today’s topic is buyer etiquette and I’m going to answer a few common questions with the help of my friend Gaby to keep us on track.
What should I do if I see a house that I love online?
One thing that we can all understand is that most people who are looking for homes are going to find their home online. That’s just how today’s market works. However, one thing to keep in mind is that finding a home online can bring you into a heightened emotional state and it can be easy to get wrapped up in the moment if you’re not ready for it.
You need to be prepared before jumping into the water with both feet. It’s not like buying a car or new furniture. There are a lot more steps in the process that you’ll need to deal with and be aware of.
One thing that you want to do is make sure that you know there is some etiquette involved in being a homebuyer. When you see a home online, make sure to call your buyer’s agent first. They can look up things for you to see if the property fits your needs. Call your agent and they’ll help you get into the house.
How can I be protected and represented fairly as a buyer for a listed home?
Initially, you might want to reach out to the listing agent. But you shouldn’t. Here’s why: Asking your own agent to make the call for you is much smarter. A lot of people think that if they go to the listing agent directly, they’ll get a better deal, but that’s simply not true.
As a buyer, you want to sign a buyer’s brokerage agreement with an agent before starting your search in earnest. If you’re not ready to commit to a Realtor, you’re not ready to buy a home. This agreement not only protects you, but it also shows you that your buyer’s agent has your best interests in mind and can handle any conversations or negotiations for you. You always want to let a listing agent know that you’re working with a buyer’s agent.
After a pre-approval, your offers are much stronger.
An agent also gives you a way out of the contract if you find a home that has some unforeseen issues. If something’s not working out, you can have a mutual parting of ways based on the contract that your agent helps you write.
Here’s the thing: Buyer’s agents aren’t paid in a transaction until they bring a ready, willing, and able buyer to the table. If you choose to work with a listing agent and have multiple agents working for you, you really don’t know who has your best interests in mind. To be protected, you want to have that buyer’s brokerage agreement signed.
Should I get a mortgage pre-approval before I make an offer?
As far as mortgage pre-approvals go, there are a lot of pieces to the puzzle in home buying. The pre-approval is actually a corner piece that helps the rest of the puzzle fall into place. We have friends in the lending world that I’d be happy to connect any of you with.
After you’ve gone through this process, your offer is much stronger. You also know what your limits are. This makes you a stronger and more confident buyer. A pre-approval is a no-brainer in this day and age. It shows any seller out there that you’re a serious buyer.
What happens if I buy a house and I end up not liking it?
Once you have bought a house, you have bought a house. People make mistakes, but we work hard to make sure our buyers are all happy with their purchases and that they enjoy the house that they purchase.
However, our business is built on referrals and relationships, so if you’re not happy with your house in the first 18 months that you’re there, we will help you sell it and find a new one. Once you’ve closed on the home, you can’t back out, but we will help you get right back on track by helping you find something that best suits your needs. We’re a full-service brokerage and we strive to ensure that each one of our clients is happy when it comes time for them to pull the trigger on a home sale or purchase.
I hope I answered most of your buyer etiquette questions today. If I didn’t, don’t hesitate to reach out and give me a call or send me an email. I’m always happy to help out and I look forward to hearing from you soon.