Thursday, July 30, 2015

House Shopping 101


For many house hunters the search for their first home is an intimidating process. We have compiled some info and some pointers to help make the process as smooth as possible.

AGENT versus REALTOR:

You have probably heard various terms to describe real estate sales people: realtor, agent and broker. The term “realtor” is actually a trademarked term of the National Association of Realtors. Only real estate agents who belong to a NAR-affiliated organization may call themselves “realtors.” The real estate “agent” and “broker” are defined by the different state-issued licenses they attain.

HOW TO CHOOSE THE BEST REALTOR FOR YOUR NEEDS

There are several steps you should take when searching for a realtor.
  1. Ask around and get referrals from your friends
  2. Research the license online
  3. Google their names to see if they may have won any awards
  4. Look for certain designations, such as CRS (certified residential specialist), ABR (accredited buyer’s representative) and SRES (senior real estate specialist)
  5. Check out their current listings
  6. Ask specific questions about the neighborhood to see how in touch the realtor is with the area

WHAT IS MLS?

MLS is the multiple listing service, which compiles an extensive database of available properties offered by a wide variety of realtors and agencies. There are many online websites that allow consumers and real estate professionals to access these listings.

SHOULD YOU CHECK OUT OPEN HOUSES?

The open house used to be a primary tool in the realtor’s bag of sales “tricks.” However, recent studies have shown only about 9% of home buyers found their home through an open house. The open house has been replaced to a large extent with virtual online tours.

ADDITIONAL POINTERS

  • Do not even tempt yourself with homes over your budget.
  • Do not shop alone. Feel free to invite a friend with home shopping experience to your house hunting journey.
  • Ask why the seller is so motivated to leave their home. It may not be the “Amityville Horror,” but there may be a very good reason why they are fleeing the neighborhood.
  • Check inside every door – even the closets.
  • Make notes and take photos (with permission).
  • A tape measure is a very helpful tool – especially if some rooms seems a bit small for your furniture.
  • Visit sites such as Google Maps and Zillow to get additional information about the neighborhood, schools, etc.

THE HOME STRETCH

When you are ready to make an offer, please contact AltaOne’s real estate department. We offer some of the most competitive real estate rates, and our team of professionals make the process extremely pleasant.


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