FIRST TIME HOME BUYER PART FOUR: Choosing an agent

Next to the decision of which lender to use, choosing a Realtor is one of the most important steps in buying a home. Your Realtor can make a big difference in how smoothly the transaction will go. Especially for a first time home buyer it is important to choose wisely. One of the most important things to keep in mind is that it is not necessarily in your best interest to call the agent whose name is on the sign. The agent who has the listing has the best interest of the seller in mind. That agent can not share information that may reduce what you offer for the house. Legally, that agent already has a fiduciary duty to that seller and only owes you "fair and honest dealings." Many people mistakenly think that that listing agent is the best source of information. The information is readily available to an agent who represent you!

Another thing to keep in mind is to make sure the agent you work with is someone you are comfortable asking questions. Be careful with agents that are in a hurry to make you sign a buyers agency contract. Much like an employer hiring a new employee, you want to make sure the agent is a right fit. This is too important a decision to get into a contract with someone who suddenly doesn't have time for you or doesn't have the answers you need. We will discuss agency a little more in the next blog. You will want someone who is familiar with the different loan types so they can find houses that fit your loan type. You want someone who is familiar with the market to help you get the best deal.

Just remember, buying your first home is a wonderful step. Enjoy the process!!