We get these questions a lot. Here are our best answers…
How do I choose a Realtor?
There’s no substitute for referrals from friends and relatives to find a qualified, trustworthy Realtor®. Second best is independent research. Always talk to the agent and do your own personal “gut check” before you decide who you want to guide you through buying or selling a home.
How do real estate agents get paid?
Typically, the Seller pays their agent (the Listing Agent – the person who has a sign in the yard) and Listing Agent pays the Buyer’s Agent.
Should I call the name on the sign to see a house?
Only if you are NOT working with a buyer’s agent! You should always let your buyer’s agent know about a property you’re interested in seeing, so they can do the research and schedule to show you the home. If you DO NOT have a buyer’s agent, by all means call the name on the sign and ask for a showing. Understand, that agent works for the seller.
What is MLS?
Multiple Listing Services (MLS) is a tool to help listing agents find buyer agents to help sell their clients’ homes. Without the MLS, every real estate company would have to create their own separate system, which would scatter the information and make buying and selling much more difficult.
Small vs Big Box – Real Estate Firm
Smaller, Independent firms are often called Boutiques, and they specialize in the local area. Larger firms are often franchises with global reach. There are benefits to both. Understand that regardless of the size of the firm, you will pick the one agent to be your advisor, and that’s your most important connection.
How much home can I afford?
Getting prequalified for a mortgage is a key first step. The lender can give you an idea of how much you can borrow based on your financials, how much you’ll need to bring to the table at closing, and your approximate monthly payment. If these numbers align with your comfort zone, you’ve got your answer.
How do I know which houses to see?
Your agent should take the lead on finding the right homes for you to see, but most buyers want to participate in the process. So your agent can set up a personalized search that sends property updates to your inbox. It’s a joint effort – not an Easter Egg Hunt. And once you find “the one” is when the hard work really begins.
How do I make an offer on a property?
Your agent will share market data so you have a clear picture of what kind of offer to make. Texas has dozens of contract forms that your Realtors® can use to make the offer on your behalf.
What is an Option Period
An Option Period is the time that the buyer has to do property inspections and withdraw from the contract, without being in default. There are several important steps, so consult your Realtor®.
Can my dad do the inspection?
Yes, if he’s a Professional Real Estate Inspector licensed by the State of Texas.
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