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The Homebuyer and the Realtor – A Vital Relationship

09 Aug 2019

When it comes to residential real estate transactions, a good relationship between the homebuyer and the realtor is crucial, and can be a recipe for a win-win situation, as the homebuyer will:

  • Get their dream home,
  • Enjoy a smooth home buying experience, and
  • Close on his or her new house in an efficient manner.

And the realtor will:

  • Smile all the way home with a commission on the transaction,
  • Get a referral for more work as a reward for doing a great job, and
  • Have one more transaction under his or her belt.

However, establishing a good working relationship between a homebuyer and a realtor can be difficult sometimes. Here are some tips for both homebuyers and realtors:

Tips for Homebuyers – How to Work with a Realtor

If you are on the buying side of the transaction, be sure to keep in mind the following tips:

  • Choose Your Realtor Carefully

From the very beginning of the home buying process, you should start asking colleagues, friends, and family members for referrals. Take your time to interview several realtors and choose the one with whom you feel you will be able to work closely until you close on your new home. Be sure, however, not to interview two realtors from the same agency. The most important tip we can give you for this part of the process is:

Do not rush it!

Take your time to find the right realtor.

  • Keep in Mind How Your Realtor will be Paid

In Florida, hardly any realtor is paid an actual salary. Practically all the realtors you will meet are compensated with a commission on the sale. As a homebuyer, it is important for you to keep in mind that:

    • If your realtor does not close a property, he or she does not get paid,
    • Realtors will be better motivated if you show them that you are ready to purchase a home and will not be wasting their time, and
    • Realtors do not work for free. Do not ask them to work for you if you are not planning to be fair in regards to their fees.
  • Be Punctual

You must be punctual when you schedule appointments with your realtor. A common mistake homebuyers make is expecting realtors to drop whatever they are doing at any point in time to respond to their requests. Realtors typically work with multiple clients simultaneously, so you must respect their time and make appointments. If, for any reason, you are going to be late for an appointment, always inform them ahead of time.

Tips for Realtors – How to Work with Homebuyers

If you are a realtor, be sure to keep in mind the following tips:

  • Get Your Homebuyer on the Same Page

As a realtor, before you sign the purchase contract with a homebuyer, you need to make sure to educate them about the process in order to get them on the same page. Giving homebuyers a little education before the process starts will help resolve problems that typically make deals collapse due to a poor understanding of the home buying process. This is particularly important when working with a first-time homebuyer.

  • Advise Your Homebuyer Against Aggressive Price Negotiation

You need to make sure every homebuyer understands that after getting a seller to accept the lowest possible price, other concessions will rarely come through. This could have a negative impact on future concessions for repairs, reduction of closing costs, and money to remedy issues found during the property inspection.

Are You a Homebuyer or a Realtor in Florida? Work with Marina Title

If you want to have a memorable and smooth closing experience, contact us today and let us handle your real estate transaction. Call us at (305) 901-5628 or send us an email to Romy@MarinaTitle.com to schedule an initial consultation with the best title professionals in Florida.

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