Real Estate

How to Find the Best Realtor for you.

Let’s just face it, there are lots of real estate agents in your area.  Some just received their license and some have been selling for 25 year.  Some work on a team while others are single agents. You may know a Realtor from work or church.  Perhaps your best friend is a realtor. So how do you choose. 

1.  Get a referral if you don’t personally know a Realtor.  

When you begin your search, you should ask your friends and family who they have used in the past. You will most likely get several names of people that various friends have used.  When getting a referral I suggest you get a referral from a friend who has bought a similar house to one you would want to buy.  If your friend bought a $500,000 house 30 miles away from where you want to buy your first home for $100,000, you may not get the same experience as your friend.  Not because that Realtor isn’t a fabulous realtor but because they are use to selling in a different part of the city at a different price point. They may not know all the programs for first time buyers in your part of the city. However you won’t know unless you ask. 

2. Ask questions

Is Real Estate your full time job or do you also have another job?

Where do you sell (area, city, neighborhoods)?

If you are wanting to buy a foreclosed home, have they sold these types of properties? Are you familiar with HUD properties, VA repos and auction sites?

Do you specialize in certain segments of the market?

How many homes have you sold in the last year?

If you need down payment assistance, what does that agent know about local programs?

Will you personally show me homes or will you have someone else showing me? Are you part of a team?

Do you have time to show me? What are your business hours and days that you show homes?

3. Make sure you feel comfortable with the realtor.  

 This is a large purchase. You should feel like the Realtor has your best interest at heart. You should be able to feel confident in providing confidential information to your agent.

4. Mutual trust and respect for time and knowledge

Both the realtor and the client need to trust each other.  This is a relationship and if you don’t have mutual respect, it will not work.  You should expect your agent to be working with multiple clients. Therefore it is important that you make and keep appoints and that they do the same. They may not be able to drop everything and show you a house with 20 minutes notice but you also shouldn’t have to wait 3 days to see a house either.

If you are interested in exploring how my team and I work with buyer at a high level, please feel free to contact me at 405-213-2992.

 

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Home Inspections add value to Home Buying

Buyer’s buy homes with emotion.  In order to institute a little logic into the equation, they hire a home inspector to advise them on the items that are not in normal working order.  It does not include cosmetic or decorative items.

Last year our contracts in Oklahoma changed some of the verbiage, by removing a repair cap.  Up until this change, a buyer would list a dollar amount that the seller agreed to repair up to at time of contract. Now there is no dollar amount. The contract leaves the buyer and seller to determine what they will repair or replace after inspection.  This is sometimes called a second negotiation. 

Since the elimination of the repair cap, I have advised my buyers that this is an “as is” contract.  What you see is what you get.  Now don’t be scared. We are still going to do inspections. We are going to see what is not functioning in the property and then we will ask the seller to make those repairs–these repairs might include roof, foundation, heat and air, electric, and plumbing.  I do not believe the intension of the inspection was to have the seller repair maintenance items like chalking, fence latches and alike.  In addition, I do not necessarily think that it is in the best interest of the buyer to ask the seller to repair every nickel and dime item on the inspection report, since the seller is not obligated to make any repairs.

On the other hand, the seller needs to disclose any known defects once they are learned to any and all buyers.  If defects requiring major repair costs are learned such as a foundation concern or a roofing issue, the seller would be wise to remedy this issue.  Buyers will either want large repairs corrected or a considerable adjustment in price to adjust for the defect.

 Inspections are for the knowledge of the buyer as to what they are buying.  There is no pass or fail. If buyer and seller cannot agree on the repairs requested, the contract will bust. The buyer will still have to pay the home inspector.

If you are considering buying or selling a home, my team would love to help you.  Please contact me at 405-213-2992.