The home buying market is ever changing.
Last year, things got crazy. It was the 4th year of housing shortages, and buyer’s had to become resourceful. Imagine it being like the 29 guys on The Bachelorette. 29-1 odds: like Ladies Night in Fairbanks!
Not every buyer wants to, or can afford to out-spend everyone. So what do you do? The answer is complicated. Opinions vary, but here are my suggestions.
Step #1: Interview a Realtor®
People like to talk about homes being the largest investment in your life. If you owned a pro sports team, and you needed someone to manage it for you, would you hire the first person that picked up the phone? Would you hire someone because your older sister knows them? Would you hire someone because they agree to pay half their earnings to a celebrity? Most pro sports team owners would say emphatically, “no!” Interviewing a Realtor® is important, and knowing what to ask is important too. I’d ask “how long have you been assisting buyer’s? How many buyer’s per year do you normally represent? Do you also list homes? How many homes have you owned yourself? Can you tell me how you’d help me buy a home?
Often times buyer’s are relegated to buyer’s agents that are just entering the business, while the more experienced Realtor® focus only on listings. The problem with that is the well of information is relatively dry for many exclusive buyer’s agents. For some its just a stair step until they learn the ropes. I’ve often times been shocked to talk with some of the younger agents in the business that haven’t ever purchased a home of their own to draw experience from. It reminds me of a waiter in a restaurant that has no idea about anything on the menu, versus a waiter with clear knowledge of their menu and all the possible options. Inexperienced buyer’s agents are like the proverbial order taker that just wants to the deal to come together and has no idea of what should be happening.
Step #2: Depends on Step #1
When a buyer engages us, we explain our role in the process and ask them some questions. It’s important for us to know things like a home buyer’s time frame, desired features, preferred area, and even how long they plan on staying there. So many factors come out of our initial discussion, and once we understand, we confirm with the prospective buyer what strategy seems best for their specific situation. As long as the buyer(s) agree, we outline the strategy and make recommendations from there, so it all starts with hiring the right Realtor®!
For help finding the right buyer’s agent, visit us online and set up an interview!
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