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Kadi Brown: Realtors Essential In Home-Buying

  • Thursday, May 23, 2024
  • Kadi Brown, President-Elect, Greater Chattanooga Realtors

As Realtors, our primary goal is to ensure that your home-buying experience is smooth, informed and successful. Navigating the real estate market can be complex, and having a professional by your side can make all the difference. This week I wanted to focus on the buyer’s side of the real estate transaction and choose a few points from the 179 Ways Agents Who are Realtors Are Worth Every Penny of Their Compensation from The National Association of Realtors. Here are just a few reasons why working with a realtor is crucial, and how they can help you at every step of the process.

Communicate the working relationship based on state law, the Realtor Code of Ethics and the broker’s business policies.

One of the first steps that realtors and their buyers take on their journey together is to communicate the 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.

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 the buyers is a critical part of a realtor’s job. They provide insights into market trends, current inventory levels, and pricing strategies, helping buyers make informed decisions. Knowing whether it’s a buyer’s or seller’s market can influence their approach and expectations.

Understand the buyer’s budget and what will be needed financially. Understanding a buyer’s budget and what will be needed 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 any surprises down the road and ensures the agents that they are looking at homes within their client’s financial reach.

Help the buyer understand what property their chosen budget will buy. Many buyers have an idea of their dream home but may not know what their budget can realistically buy. An agent helps the buyer understand what property their chosen budget will buy, aligning their expectations with the market reality. This ensures that the client focuses on properties that meet their needs and financial parameters.

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 any last-minute financial stress.

Explain the timeline for house hunting, mortgage approval, and closing. The home buying process involves several stages, each with its 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 promptly.

Educate the buyer on the immediacy of new listings appearing in their local MLS broker marketplaces 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 in their local MLS broker marketplaces and the lag time for them to appear on some websites ensures the buyers that they don’t miss out on opportunities. A realtor will ensure the buyers are among the first to know about new properties that match your criteria.

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

Constantly re-evaluate buyers’ needs and refocus property showings to fit those needs. Buyers' needs and preferences may 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 strategies, so that they can better find a home that truly 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 their 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. Who We R.

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