Mortgage Resources

Things First Time Home Buyers Must Discuss With Their Colorado Realtors

Home buying can be a challenging task, especially for first time homebuyers.  One of the best things a new homebuyer can do is to enlist the services of a trusted and reputable real estate agent who can help them walk through the more challenging parts of home purchases.  A good realtor will help you carry the heavy burden of home hunting by taking care of the small but important details that come with purchasing a home.  They are generally knowledgeable about the area, the market and the ups and downs that come with any big purchase.   Realtors will also help you in negotiating deals and determining if a deal is good or not. Buying a home is one of the biggest financial transactions you will make in your life so you should take your time in choosing a realtor whom you have confidence in, feel comfortable and secure to work with and who has a reputable standing in the community. Ask for references, read reviews and meet with your realtor to ensure that they will be the right fit for you and your family.

first-time homebuyerIs the Realtor Licensed?

All realtors are required to be licensed by the state that they work in.  Valid and trusted realtors should be registered members of the National Association of Realtors.

Is Selling Real Estate a Hobby ?

Purchasing a house is a major investment for your family and you want to ensure that your realtor is a professional at what he or she does.  If selling homes is more of a hobby for them then they may not be the right realtor for you.

Is the Realtor in Good Standing?

Check to see if the realtor you have chosen is in good standing with their license.  In Colorado, you can do this simply by going to the Department of Regulatory Agencies website.  Here you can check for disciplinary cases or complaints against the realtor.

Are They Experienced at What They Do?

A seasoned realtor is good at negotiating and striking deals with other brokers and in predicting market shifts; all of these qualities play to your advantage.   Experienced realtors know the ups and downs, know the market patterns, can tell a good deal verses a not so good deal within minutes and can negotiate with the best of them.  This is someone you want on your side so knowing their experience can help you make an informed decision on whether they are the right realtor for you.

Are References Available?

Ask if they can provide you with references of past clients and then actually check in with these references.  You may learn that the realtor is the best in the area or you could find that this realtor is pushy and just tries to seal a deal.

Who Pays Who For What?

Most realtors charge a percentage and are paid only after closing, typically as part of the closing costs.  In most cases, the buyer doesn’t even have to pay a realtor; it is the seller’s responsibility.  Determine how much the realtor charges and when payment will be made to them before you start working with the realtor and, most importantly, who will be paying.  This will help alleviate any sudden financial surprises. Choose a Realtor that you feel you can trust; after all, you are entrusting them to help you with one of the biggest decisions of your life.