Our Homebuyer Shops for an Agent and Some New Lighting
Hadley and her friend Sally have run into some difficulties going to open houses so they are discussing using an agent to help. “I don’t know if I trust that the agent will show you everything that is out there,” voiced Sally to Hadley with concern. “My agent missed a lot of things we ended up liking. We never figured out why she did not mention them to us.”
“I do worry about that,” agreed Hadley. “Let’s ask how they would handle that when we talk to the agents we are interviewing. The other thing I have concerns about is how they are paid. If they get more money with a higher price, won’t they want me to pay top dollar?” “Absolutely”, agreed Sally. “You know that has to work against you. I can’t believe how much homebuyers get the short end of the stick!”
Hadley and Sally schedule appointments with 2 agents. The first agent they had met at an open house. She was not really as interested in representing buyers, but seemed knowledgeable about the neighborhood that Hadley liked. The other agent they found on-line. This agent called herself a “buyer’s agent”, a concept that intrigued the two young women. “What is that?” asked Sally. “Well, let’s ask her when we meet her,” suggested Hadley. (Ever the wise one, that Hadley!)
“Well, we have a few hours before our first appointment, so let’s run over to that lighting store that just opened,” proposed Sally. “Maybe we can pick up some lights for the new house.” “You mean the house we haven’t found yet?” teased Hadley. But off they went, and, being totally blown away by the fabulous lights they found there, opened a new account and bought quite a few. “I have never seen such amazing lights!” gushed Sally. “I know,” agreed Hadley. “But I am little concerned about having opened another credit card account after I just got a new one at that clothing store last week so I could get the additional discount.” Do you think that will be an issue when I go to apply for a mortgage?” “Of course not,” assured Sally.
Running a little late, they rush to the agent’s office for the first appointment. But the agent is also running late so they sit a few minutes before she calls them in. The first thing they notice is a large photograph on the wall of a concerned person listening to someone sitting across from her.
Interviewing Your Agent
“Nice photo”, whispered Sally. But that was the last word they got in as the agent proceeded to tell them how many houses she sold every year, what honors her office has bestowed on her for sales figures and what listings she has right now that they will want to see as soon as possible because they will “sell like hotcakes”. Hadley looked down at her list of questions–wondering if it was even worth it to try to ask them. Before she could decide, the agent’s cell phone rang and she turned to take the call. “I don’t think she will be the kind of agent I am looking for” whispered Hadley to Sally. So after a long wait, when the agent finally turned back to them, they made polite goodbyes and left.
• Hadley has valid concerns about the process of buying a home that need answering. She needs to be sure they are addressed by whatever agent she decides to use.
• Sally has had a bad experience and is not as knowledgeable about the process as she thinks she is, She assumes all homebuyers have had the same issues she did.
• Opening new credit cards and creating balances on them (to buy lights or anything else) will affect Hadley’s credit score and could well affect the interest rate she can qualify for.
• Busy agents with high sales figures are not always the best choice for a buyer—especially a first time buyer.
To avoid these issues and others when buying a home, use the services of an experienced, trustworthy exclusive buyer’s agent. Sage Realty is one of the ONLY exclusive agencies in the Philadelphia metropolitan area. Even if you are buying in another market, ask us to refer you to the best EBA in that area. If you are a first-time home buyer, your fears will be eliminated. And if you have bought a home before, you will have a completely different experience. Contact Sage today.