New Orleans Real Estate News

It's Not a Car - Some Home Buying Advice is Just Wrong

I clipped this from the Times-Picayune because I wanted to be sure home buyers realize that not all of this is true (or it shouldn't be, anyway).  While the advice might be really relevant to buying a car, some of it misses the mark when it comes to home buying.


Know the home-court advantage:  While we have definitely helped buy and sell more houses than the average person, I can assure you that we do not know what you are thinking, nor have we taken any classes to read you and sell you.  If you are working with a professional agent, you shouldn't have to be on guard.  You should know, instead, that a good agent doesn't sell you a house.

Watch for the qualifying questions:  We don't need to look for your wedding ring or ask questions about how much you can afford, because a prepared buyer has already taken the steps to be pre-qualified for a mortgage.  This isn't a car.  It's likely the largest single purchase you will ever make and the people (and banks) selling homes will not be willing to even start negotiating with you until they are sure you are qualified and not wasting their time.

Hit the streets:  There are rules that agents and brokers must follow when a property is no longer available and that includes updating the status within 72 hours of a home going under contract, being sold or leased or even being taken off of the market.  That said, there will always be a delay in updating some third party sites such as Trulia or Zillow, since they don't get listing information directly from the MLS.  If you find that a particular site is always out of date, you may want to do a little digging and find a more up to date local site for your home search.

Put time on your side:  "When the agent sends you information...act blase.  Being too eager tips your hand"  Your agent is absolutely the one person that you should inform that you are eager.  It's the seller that you don't want to tip your hand to and your agent is there to protect you from doing just that.

Don't get emotional:  This actually is pretty good advice, because there certainly are things that can derail a home purchase (inspections, appraisal).  Except that buying a home is almost always emotional.  We tell buyers that when they walk into the house that should be their home, they will know it.  Of all of the houses I've ever lived in, each one whispered "buy me" as I walked through.

 

I feel sorry for the person who wrote this piece, because she obviously didn't feel like her REALTOR® was on her side during her home purchase.  If you have any of those same concerns about your agent, it might be time to find a new one.


Find more home buying advice at West Bank Living


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Comment balloon 42 commentsLisa Heindel • November 09 2011 08:36AM
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