The first day of autumn has come and gone and the annual Fall Parade of Homes is in full swing until October 11. Whether you’re looking for a newly built house or condo, or an existing home in an established neighbourhood, this might be the perfect time to buy. And fortunately, you don’t have to embark on a home search alone.
When you buy a home, your REALTOR® is effectively a business partner. You’re both working toward the same goal: Closing a real estate deal that you’re happy with. That’s why it’s in your best interest to know both how to hire a REALTOR® and how to build a good working relationship with them.
Because the better an ally you are, the better an ally your agent will be. Here’s how to successfully choose a REALTOR® and work well with them.
Know what you want
A lot of home buyers dive into the house hunt with no idea what they want, so the first and best way to be a good client is to know exactly what you’re looking for in a house.
Ask yourself a couple of basic questions. What’s my budget? What type of house do I want? Single-family or townhouse? Is there a design style I gravitate toward? A neighbourhood I need to be in?
Knowing these specifics — and telling them to your agent — will help him or her find homes that match your criteria. Because neither you nor your agent wants to waste time looking at dozens of houses that aren’t even close to what you have in mind.
Over-communicating your intentions and goals is a really good idea. And knowing exactly what you want can help you know how to pick a real estate agent, too. Some agents specialize in certain neighbourhoods, new builds, old houses or condos.
Meet agents in person
It’s fine to start off your relationship with an agent via email, text and phone, but before you hire the agent to work with you, set up an in-person meeting.
It’s a good idea to interview three agents before picking one, although sometimes you may immediately click with one. Some questions to ask are:
• How long have you been an agent?
• What neighbourhoods do you specialize in?
• How many homes have you helped people buy in the last year?
• How many clients are you currently working with?
Meeting in person can help both sides determine compatibility and establish trust. To the agent, meeting them in person is a sign you’re serious about buying. This also makes it easier for the agent to determine what resonates with you and what doesn’t. It’s much easier to convey what you want in a conversation over coffee rather than in a text. This gives both you and the agent the ability to ask as many questions as possible, and the agent the chance to really get to know you and your preferences.
Set up expectations for communication
Tell your agent how you’d like to stay in touch during the buying process. Do you prefer texts? Facebook messenger? Or do you like old-fashioned phone calls? Tell them how often you expect to hear from them, too. Daily? Weekly? And tell them the best times of day to reach you, too.
Be respectful
Be mindful of an agent’s time. Don’t blow off showings. Be prompt. If you disagree with your agent, respectfully tell them why. Resist the urge to panic if the agent doesn’t immediately respond to a text or phone call. People hire an agent because they’ll do everything they can to help you successfully buy or sell your home. But you need to remember that they’re human, like you, and they have a life as well. They are also likely working with more than one client at a time. But a good agent will try to get back to you as soon as they possibly can.
Get organized
Communicating your wants to your agent is key. Here’s a good way to do it: Write them down, either on paper or in an email or text. This gives you time to think about what you really need in a home. And when you instantly fall in love with a house that seems perfect, you can pull out your list to remind yourself of the deal-breakers before making an emotional decision you might regret.
Give a copy to the agent. They’ll be better able to find homes that match your criteria and help you avoid buyer’s remorse. If you’ve always dreamed of a two story with a front porch, don’t buy a brand new bungalow because you love the laundry room. An agent who knows you well and what you really want in a home will be able to help you pump the brakes and remind you of that.
You should also have your financial records in order. This means getting pre-approved for a loan. Pre-approval for a mortgage says you’re serious about buying a house and not just window shopping.
Admit what you don’t know
Real estate transactions are complicated. Don’t be embarrassed if you don’t know what all the terms mean, or what to expect from each step of the process.
If you don’t know what closing costs are, ask. If you’re confused about the terms of an offer, say so. It’s totally normal to ask an agent for a little hand-holding — that’s what they’re there for. That’s why they’re the expert. Utilize their experience. Part of knowing how to hire a real estate agent is finding one you trust enough to tell you things you don’t know.
Don’t play the field with other REALTORS®
If you’re working with an agent who is supporting you, don’t engage with another agent. In real estate, just as in romance, that’s cheating. It can backfire by damaging your relationship with your agent.
If your agent finds out you’ve got other agents showing you houses, they may prioritize other clients. So a big part of knowing how to pick a real estate agent is knowing that you need to stand by your agent once you hire him or her. Loyalty counts and will guarantee the best result from your partnership.
With the enactment of The Real Estate Services Act in 2022, every REALTOR® in Manitoba, before providing real estate services, must specify in writing the services they will provide, any rights to terminate the service agreement before it expires, and how their brokerage is to be paid. This written service agreement is to be signed by them and you prior to providing any real estate services to you. Visit www.realestatemanitoba.com/promises-on-paper for more info.
By utilizing these tips you will ensure that you and your REALTOR® will be able to work together in the most effective way possible. And by visiting www.homebuilders.mb.ca to find out more about the 46th annual Fall Parade of Homes, you might just be able to cozy up to your forever home before the last leaf has fallen from the trees.
— Realtor.ca