Stop Looking at Homes....

And Start Looking For an Agent!

We've all heard the expression "don't put the cart

before the horse."  Unfortunately, that is what many home buyers do.  How's that?  They go on-line to various websites and start shopping for homes.  "Jim," you say, "why is this a bad thing?"  Well, read on....

First off, as a buyer, you really want to learn what it means to actually buy a home first. There are so many things buyers, especially first-time buyers, do not know about home buying.  And many of those things can be answered by a competent buyer's agent.  The home buying process is much more complicated that just "picking a home" off of the internet and going to see it.  That really isn't the way a buyer should proceed.

It's very important as a buyer to have the proper foundation and understanding about how the process works.  I spoke about this in one of my previous postings (see: I Just Want to Look At Homes).  If you are out there just plinking around on the internet you are really not ready to buy a home.  You may think you are, but you are probably not.

Yes, I know it's fun to window shop.  I do it all of the time on E-Bay and Amazon. But as I said, that isn't really how you buy a  house.  Why?  Well, first off, if you do not have a buyer's agent and you actually see something on the internet that you want to see and potentially buy did you know the agent listing the house is working for the seller, primarily?  You can easily fall into a Dual Agency situation, which is the absolute worst situation you can be in as a buyer.  Buyers who end up in a Dual Agency situation are typically not educated buyers and they typically regret it.  Basically, this is where the agent selling the home ends up "representing" you and the seller at the same time....and gets double commission for doing it.  If you want to know more about the perils of Dual Agency just Google it.

Why else is it bad to shop for homes before having a buyer's agent?  Because much of the data that you see out there on the web is inaccurate and/or outdated.  Many of the homes you see on various "home" websites are either "in contract" or have already been sold.  Problem?  These sites are not regularly updated and the data is not in real-time.  How do you like looking at homes on a website and then finding out that half of them are already sold?  This does not happen if you have a buyer's agent that you have established a relationship with.  Why not?  Because a buyer's agent has access to the local MLS (Multiple Listing Service) which is were ALL listing data comes from.  Nothing you will find out there is as current as the MLS for your area.  It is the most accurate, real-time data base that is out there.  And in most locations the MLS can send you updates automatically as soon as they are on the market. Of course, unless you establish a relationship with a buyer's agent you can't get access to these listings.

Again, I know you like to browse.  Not a problem.  Get a buyer's agent to set you up on the MLS search so you can get all current listings and keep browsing if you want to.  Keep in mind that the data from MLS is more current, so you will see homes that show "available" that are not.  That is not a problem with the MLS, it's a problem of data management with the website that shows it as available when it's not.  Basically, all available listings will be sent to you.  If you find a listing on a website that matches your criteria but does not show up in the listings being sent to you by your buyer's agent then 99% of the time it's not available. How much time will it save you to get accurate, real-time listings and not have to keep browsing home websites hoping to find a home that you like AND that's actually available? 

A buyer's agent is also there to answer your questions and guide you in the right direction.  He/she is on your side, and is there to help you make an informed decision, not to "sell you a home."  Do you really want to continue to call/e-mail random seller's agents on these listings, hoping that they respond?  Half the time the agents don't even respond to you.  And when they do they just want to talk about how great their listing is and push you into buying it.  Is that really what you want? YOUR agent will get you the information you want in a timely manner and not try to "push" any particular home on you.  Again, your agent is in your side, and is there to help you make an informed decision based on unbiased information that he/she has provided to you, based on what you want.

Now go find yourself a good, competent, experienced buyer's agent.

The Life of a Realtor, Part 2

So, a while ago I wrote Part 1 about the life of  Realtor.  Time to write the sequel....

I had a good, steady job before I decided to get into real estate (read Rich Dad, Poor Dad if you want some insight on this).  But, for some reason,  real estate always intrigued me.  However, I come from a long line of "play-it-safers" when it comes to career choices and the like.  When I told my parents I was going to go into real estate back in 1995 they were a bit concerned.  My degree had nothing to do with anything even remotely related to real estate (at least it didn't appear that it did) and all my family saw was "risk."  Frankly, I wasn't too sure myself.  I've never been a huge risk-taker, either.  And diving into something that I had no experience in and working for 100% commission was, I admit, a bit scary.  Not only that, but the company I went to work for was brand new and neither the company, nor I, had much of a data base or a "circle of friends and family" to work with. But off I went, with my license and the kind of optimism that risk-takers have been known for.

They say police work is "hours of  absolute boredom punctuated by a few moments of sheer terror."  Real estate is kind-of like that.  I spend a lot of time just managing things, doing the day-to-day mundane things and then all of the sudden I get a call or an e-mail from a prospective home buyer.  Or one of my clients decides to make an offer on a home.  Granted, I'm not actually "terrified" of this kind of activity, but it does get things moving on an otherwise routine day.  And then, somebody wants to see a house, another client wants to make an offer, and a new prospect want to meet with me...all on the same day at the same time.  That's when things start getting exciting.  "Time management" takes on an entirely new meaning at that point.

I mentioned in Part 1 that Realtors have to wear a lot of hats.  I work with several clients at any given time.  It's important that I keep my documentation with my clients physically separate, but I also have to keep my clients separated mentally and emotionally from other things that are going on.  What do I mean by that?  Well, mentally, I sometimes get a conversation confused between clients.  And they'll hear me say "Oh, wait, that was my other client...."  Myself and my clients often have the same discussions and I can't always remember who I had that last discussion with.  I also have certain things that always come up when viewing houses but I sometimes forget if "WE saw that one house that had that thing" or if that was another client I was with....and "did I already tell you about radon, stucco issues, polybutylene plumbing, how to brace a foundation, how to treat for termites, roof venting issues" etc., etc., etc.  There is a vast amount of information that I'm required to learn and retain in order to be effective as an advocate. It takes time and energy just to remember what I've said and/or didn't say sometimes.  I do my best to treat all of my clients and individuals but I have a lot of conversations and know a lot of people.  That's what it's like to be in this business for so many years.

One other thing that presents a very serious challenge in my profession is what I call "switching gears," meaning, going from one conversation or event to another completely different conversation or event within minutes and trying to leave the first event in lieu of the second.  What exactly do I mean by this?  For example, sometimes negotiations can get very heated, even between myself and my own clients (which should never happen, but it does).  Psychologically, it's difficult to just "drop" something that's extremely urgent, important, and may be really weighing on one's soul.  But since I have back-to-back appointments sometimes I have no choice.  So a negotiation blows up and I have to head out to show houses.  Time to "switch gears" and leave that event behind so that I can focus on doing the job for my other clients, which means concentrating on showing them houses and answering their questions and focusing on their needs, not mine or my other client's.  Easier said than done sometimes, but I've learned to deal with this over the years.  Most of my clients never even know what goes on with my other clients...unless I share something out of frustration.  But normally I just go on my merry way...until I have to go back and try to resolve whatever happened earlier.  It's trying at times but also can be rewarding.

Being my own boss has given me a measure of flexibility.  Even though that's true, I tell my clients that I'm available "most of the time," meaning just about any time of the day or evening, seven days a week.  Sometimes I wonder if I should set boundaries because I know from experience that if I don't, even well-meaning clients will unknowingly take advantage of me.  I don't set a lot of boundaries because I want to be there for my clients.  However, that sometimes gets me in trouble. My wife doesn't understand why I come home from work sometimes and get right back on my laptop and go back to work!  And why I take calls and read texts at dinner, during birthday parties, during wedding receptions, during concerts, and even during church! (ringer off, of course)  I had a client call me once while I was at an OSU game.  I called him back and he said "I can't hear you very well" and I said "that's because I'm sitting in the stadium watching a football game." (halftime)  So he pauses, and says, "Oh, does that mean you can't show us a house?"  Yeah, that's pretty much what it meant.  Granted, most of my clients are nothing like that.  But my clients do want their needs met and they expect me to do that.  What's interesting is how my clients sometimes define "urgent" and how I define it.  Sometimes, honestly, it really can wait until morning.  I've had to tell clients, "Well, not much we can do tonight, so let's just pick this up in the morning."  At 10:00 p.m. on any given night there isn't much I can do if a deal is in danger of falling apart. Yet sometimes somebody will want me to try.  Every one of my clients thinks what they need is important, and it is.  But sometimes what this client wants/needs is more important than what another client wants/needs right now. Try explaining that to the second client.  :)

Every job and profession comes with it's own set of challenges, no doubt.  I just wanted to share some of what it's like to do what I do for a living.  I'm sure there is more....maybe I'll do a part 3.  One other thing that I've noticed about my profession over the years is that there are so many different types of people, with various backgrounds and education, that are in real estate. What's great is that this industry has room for me.  I surely can't complain about that!