Step 7: WORKING WITH A REAL ESTATE AGENT AND SEARCHING FOR A HOME
It is easy to get overwhelmed by the home buying process. With all the information available on the internet, learning about the process can be a bit of an overload. What’s the best way to streamline your efforts? Work with a licensed California Real Estate Agent.
Benefits of Working With an Agent
- Knowledge – Agents know the real estate market, the home buying process, how to search for homes, and negotiating the right price. They help buyers save money and avoid pitfalls.
- Confidence – The home buying process is a lot to take in, especially if buyers are doing it for the first time. Having an experienced California real estate agent to guide and assist you in the process can help ensure you find the home you covet.
- Peace of Mind – Having someone you can trust will put your mind at ease, especially when making a big a decision like buying a home.
- Avoid Wasting Time – A California real estate agent will keep you focused.
- It’s Free – As a first time home buyer, representation is free. Your agent will be paid by the seller once the house has been purchased.
What Does a California Real Estate Agent Do?
A good real estate agent helps guide you through the home buying process. They represent you, the buyer, and work to help you buy the right house at the lowest price.
You are the client. An agent protects and promotes your interests above all others. When you have someone you can trust, buying a house is a great experience.
What an agent does for you:
- Answers questions and provide guidance.
- Education about the local real estate market.
- Review desired home features, analyze yours needs as a buyer, and compile a list of potential homes.
- Advise you on new listings as they come to market.
- Provide information on neighborhoods, schools, real estate tax rates, and public services available in each neighborhood.
- Schedule showings.
- Work with other agents to negotiate a price for the house.
- Assist in the selection of a title company, home inspector, and other service providers.
- Coordinate various activities during a real estate transaction.
- Proactive in solving problems that arise in the home buying process.
- Handle paperwork and deadlines.
Searching for Homes
Starts with the basics. As you may have guessed, it starts with location. First broad, then narrow your search. If there is a specific part of town, or maybe some property feature, put those parameters in place and search based on your list of desired home features. Filter based on the price range you have been pre-approved for.
By all means conduct a search yourself, but having professional insight provides of variety of tools that makes the process easy and comfortable.
Top Home Search Tools
- Internet Data Exchange (IDX) – This is the official name of the system that provides a free home search on an agent’s website. An IDX can help customize a buyer’s search in a way that encapsulates desired home features.
- Client Portal – A client portal is a tool agents use to customize a home search and send automatic updates whenever there is important activity in the market. For example, if a new home that meets a buyer’s criteria goes up for sale, they’ll receive an email.
- Mobile Real Estate Search Application – This is a powerful geo-based real estate app for the smart phone that gives buyers the power to see what home are for sale from the comfort of their phone.
A mobile real estate search app bridges the gap between the online and offline home search.
The beauty of an app is that wherever you are, all you have to do is open the app and search for a house. It is an easy and efficient way of searching by map or address. If there’s a house you drove by that caught your eye, you’ll be able to pull over and search housing prices in the area.
Viewing Homes
Make sure you consult with your agent, take notes, pictures (or video) and ask as many questions as you can think of.
Common questions for agents:
- Price of the home
- How long the home has been up for sale
- How motivated is the seller
- How low are the sellers willing to sell
- Age of the home
- Renovations that have been done (or might need to be done)
- How old is the plumbing?
- How old is the carpeting and / or flooring?
- How old are the windows?
- Other property issues
- How much is property tax?
- How much is the HOA?
- What school district?
- Prices of other homes in the area
Narrowing Your Choices
After you find a handful of homes that fit your needs, eliminate based on what you like and reassess which features are most important.
Once you find a house you covet, have your agent draft and submit a purchase offer to the seller’s agent.
Legal Disclaimer
This home buyer series is intended to provide general information regarding the process of how to buy a house in California. It is not intended to provide buyers with legal, accounting or financial advice. You are advised to seek the services of a skilled professional this those fields.
Additionally, this home buyer series does not set forth all qualification criteria for any of the loans described herein; all interested persons must successfully meet qualification criteria and complete the application process to obtain such loans.