The Truth About Working With a Real Estate Agent
There are certain things you just don’t learn until you peek behind the curtain. The military recruiting commercials have never once shown someone sitting behind a computer typing reports, but people in the military know the truth. That range took a lot of work to coordinate and a lot of paper. As I've dived into real estate, I've realized there are plenty of assumptions and preconceptions about the industry. Some are true. Some definitely aren't. I think most people view real estate agents as somewhere between a used car dealer and the recruiter who swore your first duty station would be Hawaii. Maybe you’re not completely wrong, but hopefully a little.
The first thing to highlight and understand is that your agent works for you. You are entering into an agreement with them, where you will compensate them ultimately based on their success in finding you a house or selling your current home. You should never feel stuck with your Realtor. If they aren't meeting your expectations, that should at least be a conversation. It’s also at times shocking to me the amount of people who feel obligated to work with a Realtor just because they showed interest and commitment. Don’t be scared to openly interview your Realtors and find someone who you not only trust but feel like you can have a good working relationship with. Bottom line, you’re the boss. Be reasonable with some limitations, your Realtor is going to have other clients and a family more than likely, while they should be responsive, they aren’t going to be 100% available, but you should always feel like a priority. One more important nugget is to understand who you will actually be working with. If you’re interviewing with a Real Estate agent who manages a team, will you be working with them or the team member? Ensure you have a full understanding of that and are comfortable with your arrangement.
As my teacher used to always tell me “do your homework”, yet somehow my kids claim to “never have homework”... strange. That said you’ll be not only doing yourself a massive favor but also your Realtor in their ability to help you by doing your homework. Zillow breaks a lot of hearts. I'm convinced there isn't a couple alive where one spouse doesn't immediately fall in love with houses 20% over budget. Some homework you can do before you even begin your search is; talking to a lender and understanding the difference between loan value you’re approved for and what monthly payment you’re comfortable with (don’t forget to factor in insurance and tax into that monthly mortgage payment estimator), researching areas you want to live including school zones if that’s a factor, deciding a maximum commute time, etc. These are all things you can do before you fire up your favorite house search engine and begin the hunt.
That homework transitions straight to the fact that even though it would probably be my number one superpower of choice, I have still not refined my ability to read a mind. So, the more we are able to have honest discussions on the parameters and requirements for you to find a house you like the better. I can promise it’s a little frustrating, for everyone, when you get 20 houses deep and that’s when it’s shared that a three car garage is a must. That said, sometimes priorities shift as you’re looking at houses and realizations are made, so also don’t be scared to speak up and re-work a game plan. If you get to a house and you know it’s not going to work, there is nothing wrong with determining that early and moving on. Convey how you’re feeling about houses throughout and it’ll allow your agent to dial in future listing recommendations.
Realtors should be really good at helping you buy or sell a home. That's their specialty. They should be knowledgeable about the market, the process, and the resources available to help you make informed decisions. That said, MOST Realtors are not home inspectors, structural engineers, plumbers, etc. Your Realtor may have some experience having dealt with similar issues but should always recommend getting expert advice. That said your agent probably has trusted local contacts who they have worked with in the past they can recommend. No, I’m not getting any kickback from Bob the Builder, but I can promise you if he does a bad job or drops the ball for someone I’m not recommending him again. That said, don’t be scared to get a second opinion or strike out on your own. Your Realtor probably isn’t maliciously trying to misguide you, but getting second opinions rarely hurts.
Some closing thoughts. While this write up is far from comprehensive, hopefully it gives just a little bit of insight without dragging on too ridiculously long. Thanks for wasting just a bit of your time today, and if you didn’t learn anything else I will leave you with this. Did you know, pterodactyls are actually not classified as a dinosaur but are instead technically a flying reptile. Follow-up fun fact, no dinosaurs are not reptiles.