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#444794 - 04/03/15 11:44 PM How to Select a Broker as a Buyer
More Potatoes Offline
Junior Member

Registered: 04/03/15
Posts: 1
Loc: USA
Hi Everyone,

I am a prospective first-time home-buyer looking to select a broker. I am still very new to the process so I am trying to become as informed as possible. My accountant advised that I be very particular in seeking out a broker to represent me. He recommended I find one who has a very successful track record. However, I am not sure how to determine who is good and who isn't good. The realty company websites in my area have realtor biographies, but very few of their profiles have any hard data about sales or accolades that they've received. Furthermore, I don't like the idea of making my decision based off of user reviews online since I don't trust those reviews to be valid.

As realtors, what is your recommendation for me on how to proceed? Is there some kind of database out there that I can use to see sales numbers from individual realtors? Also, can the qualify of a realtor be inferred based on the number and/or value of the properties they have for sale? Some of the realtor biographies show that they have a few run-down houses for sale, while other realtors have a whole bunch of expensive houses. Is it safe to assume that the ones who are selling a lot of expensive properties are better realtors than those who only have a few lousy ones? I'm not sure how it works in this business, so I appreciate anyone on the inside who can help me out!

Thank you!

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#444800 - 04/04/15 06:31 AM Re: How to Select a Broker as a Buyer [Re: More Potatoes]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2196
Loc: Outer Banks
Forget what your accountant said.

First, talk to some lenders and find out how much you can borrow and how much you are comfortable borrowing. Don't give any of them your ss number until you are ready to apply for the loan. This will help you find a lender who has good rates and will be helpful.

Next, talk to some agents. Tell them how much you want to spend, where you want to be and what you want. See which of them offers you the most help and is the easiest to get along with and then make your choice of agent. They all have access to everything for sale so be sure they make everything in your price range available.

some top agents won't want to deal with a first time buyer and will pass you off to an assistant.


Edited by Bigtoe (04/04/15 06:33 AM)
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#444815 - 04/04/15 09:16 PM Re: How to Select a Broker as a Buyer [Re: Bigtoe]
June2012 Offline
Member

Registered: 08/22/14
Posts: 145
Loc: FL
Originally Posted By: Bigtoe
Forget what your accountant said.

First, talk to some lenders and find out how much you can borrow and how much you are comfortable borrowing. Don't give any of them your ss number until you are ready to apply for the loan. This will help you find a lender who has good rates and will be helpful.

Next, talk to some agents. Tell them how much you want to spend, where you want to be and what you want. See which of them offers you the most help and is the easiest to get along with and then make your choice of agent. They all have access to everything for sale so be sure they make everything in your price range available.

some top agents won't want to deal with a first time buyer and will pass you off to an assistant.

Bigtoe is right. Get your pre approval letter first. if your price point is low, such as an FHA buyer around the starter home price point, a realtor might have to work extra hard to help you all the way to closing. Then interview a few realtors that closed properties at that price point. Pick the one that responds to your inquiry quickly, listens to you and offers sensible advice. If you are at a high price point, it makes sense to pick an agent that knows the luxury home market well. We all have the same access but a realtor that you feel comfortable with will be the one!

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#452762 - 05/25/16 02:19 PM Re: How to Select a Broker as a Buyer [Re: More Potatoes]
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 792
Loc: Florida
With so many realtors advertising online it must be hard to determine who to call. Look at their pictures, do they look professional, google them and see what they post online, have they sold in the area that you are interested in. Once you call, do they ask you the right questions, do they ask you to meet with you first for a buyers consultation? During your face to face meeting do they seem knowledgeable, are they able to guide you through the process of purchasing? Every deal we do is different, experience is a plus make sure that you are with someone that you can trust with your money!

I was speaking to my husband about this, it's a big responsibility to take on a client, you are responsible for guiding them and looking out for their best interest. Lots of money is at stake. Do your homework well before committing to someone.

Good Luck...
_________________________
Zoila Perez-Chanquet
Concept International Realty
www.downtownmiamicondofinder.com

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#456066 - 12/28/16 04:31 AM Re: How to Select a Broker as a Buyer [Re: More Potatoes]
Patricia12 Offline
Member

Registered: 11/30/16
Posts: 13
Loc: SF
When you have names of brokers, you would like to hire, run the names by the local real estate board or state real estate commission and check for complaints.

As, for experience, this does not necessarily mean how long a broker has been in the business. You need to understand how well they know the local market.

Take into consideration, that if you hire a buyer’s agent, you can still ask the sellers to pay his fee.


Edited by Patricia12 (12/28/16 04:31 AM)

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#456867 - 03/09/17 12:27 PM Re: How to Select a Broker as a Buyer [Re: More Potatoes]
Marksmith Offline
Junior Member

Registered: 03/01/17
Posts: 6
Loc: Maryland
Hi,
I read your post and I think hiring a local realtor is a good decision.it is also important do some research while hiring a realtor.
Thanks!!

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