Top Home Buying Tips: 5 Expert Real Estate Agents Weigh In
On this episode of The Closing Table, we sat down and talked about the homebuying guide to success from 5 expert real agents!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed…
In the world of real estate, every detail matters. During a recent episode, host Kat shared invaluable tips gathered from seasoned real estate agents. These tips emphasized the importance of being mindful of one’s words during home showings, effective showing strategies, uncovering hidden issues, ensuring transparency in deals, financial planning, and more.
Kat started by recounting a memorable incident where buyers openly negotiated their offer in front of cameras. This story highlighted the need for caution and discretion during home showings. Agents advise buyers and agents alike to refrain from negative comments, reminding everyone of the emotional attachment sellers often have to their homes.
The episode then dove into the strategies for successful showings. Agents discussed the importance of professional attire and addressed common concerns from sellers about how their homes will be presented. Drawing from their experiences, they emphasized the need to address potential issues with the property upfront to make a good impression on potential buyers.
One of the standout tips was the importance of checking under rugs and plants during inspections. Hidden issues, such as water stains and deck holes, are often discovered in these spots. The stories shared underscored the necessity for thorough inspections, ensuring that both buyers and sellers are aware of any potential problems.
Transparency in real estate transactions is also paramount. In the conversation, they underscored the importance of clear communication to ensure all parties are satisfied with the deal. The agents’ advice against ambiguity helped build trust and led to successful transactions, ensuring that everyone involved felt secure and informed.
Financial planning was another critical topic. It was explained that agents don’t inquire about personal financial details, such as income or credit score; that information remains between the client and the lender. Instead, agents require clients to be pre-approved, ensuring they are financially ready for the home-buying process.
Agents often assign homework to their clients, asking them to research homes in their desired price range and areas on platforms like Zillow and realtor.com. This helps clients make informed decisions and set realistic expectations, considering factors such as the number of bedrooms, bathrooms, and other features.
Next, setting realistic expectations is necessary. Clients are encouraged to communicate openly with lenders to explore different budget options and make informed decisions. By being realistic about their budget and needs, clients can avoid disappointment and find a suitable home more efficiently.
They then highlighted the necessity of being inquisitive with lenders to gain a better understanding of financial feasibility. The agents emphasized vulnerability and openness, which lead to well-informed decisions about purchasing a home. Using the analogy of relocating from California to Michigan, they illustrated the importance of realistic financial planning, considering regional cost-of-living differences.
“There’s nothing wrong with asking a dumb question,” the agents reassured. Clients are encouraged to ask questions about budget, homebuyer programs, and closing costs. They also educate clients on the importance of pre-approvals, debt-to-income ratios, and changes in interest rates, advising them to work within their affordable range.
Using a local lender is also highlighted, as they have a better understanding of properties in the area. The challenges of using out-of-town lenders were discussed, highlighting the importance of proper communication and understanding specific property types.
Following that, recommended a discovery trip to evaluate neighborhoods and lifestyle changes. Clients are encouraged to spend time in potential new areas to get a real feel for the location. Examples were shared of clients who changed their preferences after experiencing the area firsthand, stressing the importance of understanding the reality of the desired location.
Agents are hands-on throughout the homebuying process. They provide clients with information on property values and attend home inspections, communicating findings via FaceTime. During the blue tape walkthrough, agents mark imperfections and ensure necessary fixes. They personalize the closing experience with celebratory gestures like champagne or flowers.
Changes in real estate regulations and buyer representation agreements were discussed. Agents believe in showing potential properties to out-of-town clients to help them understand the market. Transparent communication with other agents when previewing properties ensures everyone is on the same page.
Clients, during discovery trips, sometimes fall in love with a house and hurry to write an offer. The agents emphasized the importance of exploring different properties to aid clients in making informed decisions. “You never know if you don’t look,” they said, highlighting the motivational aspect of exploring properties.
Through these shared experiences and tips, Kat paints a vivid picture of the intricacies of home showings, financial planning, and the importance of transparency and engagement in real estate. This serves as a guide, offering invaluable insights to both buyers and sellers on their journey to finding the perfect home.
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.