First Home Buying

It’s not very difficult to locate real estate agents. Cast your net among any social group or do a quick Google search and you’re likely to come up with a dozen of them at the drop of a hat. But finding one who knows your local area - not just the market conditions, but also the roads, the towns, and the people who reside there - requires a little bit of extra discernment.

One of the main ways real estate agents get new clients is through word-of-mouth advertising. You can stand behind a podium with a loudspeaker and sing your own praises until you lose your voice, but a kind word about you from a friend or acquaintance has a much larger impact on those who are listening. It may even grab the attention of a few people who aren’t listening! Talk to some of the people you live and work with, and it won’t be long before you stumble upon a conversation that leads you toward contact with an agent.

It’s personal story time. When I started thinking about buying my first home, I got on the internet and found my way to some real estate website. It had lists of real estate agents with descriptions, pictures, and blurbs about their experience in the industry. I was younger and I didn’t care about experience; I wanted someone who was close to my age and who I would be able to spend time writing contracts and looking at houses with and not feel awkward or out of place. I scrolled through the listings until I found an attractive young female agent, called up her brokerage, and got her as my agent.

Now the reason I tell this story is not to show how brazen I am (although it does a pretty good job of it), but rather to illustrate what a quick decision can mean. In this case I was lucky enough to have chosen an agent who knew my local area very well. But personality-wise, she could be excitable and impatient, and she nearly flipped a few times when the mortgage company wasn’t communicative at certain steps in the process. I understand how an agent could become upset because the financing company that is going to end up providing their paycheck isn’t checking in often enough, but things got dramatic a couple of times and it was pretty irritating.

So should you use the same agent your Aunt Sally did when she bought her retirement home in the late 80’s? Maybe. But I’d think about some important factors before you choose an agent, and ask yourself at least the following questions.

Is it important for me to feel connected and to have things in common with my agent?

Do I feel that I need to work with someone who is experienced in the area, or just with real estate in general?

What, if anything, do I know about this agent as a person outside the real estate business?

Do I trust this person? Do I feel comfortable sharing financial information with them?

In brief conversation, do they seem uptight or easy-going? Are they helpful and forthcoming with answers to my questions?

You should not be afraid to call up a few potential real estate agents, let them know you’ve been approved to buy a home, and schedule a time to get together with them. You’re not obligated to work with a specific buyer’s agent unless you sign something that says you are - and that doesn’t normally happen until that agent helps you write up an offer. Of course, you should have nailed down who your agent is going to be by the time you start making offers on places anyway!