Real Estate Article:  Hints on Buying a Home

Whether you are a first time buyer or someone who has owned several homes, you need the most information possible about buying a home and about some of the mistakes you can make that will take more of your time, and possibly even cost you more money!

Driving Areas You Like Looking for Real Estate Signs

You can waste a lot of time and money on gas driving around looking for signs!  That's pretty obvious, but here are some other problems with driving around:

  • One of the biggest problems is that you may fall in love with the outside of home....only to find out that you can't afford it.
  • You may not like the outside of a home that would be perfect for you and is listed at a great price.
  • You will miss some homes that don't have a sign in the yard.
  • You will miss some great areas, with great homes, that you don't even know about
  • When you call one of the numbers on the signs, you are taking your chances on who you will be talking to.  You might get a brand new agent.  You might get an agent who has been in real estate for a while, but has never learned much.  You may get someone who is the listing agent and only wants to make a quick sale and a "double dip" (getting both "sides" of the commission).  They are already working in the seller's best interest.  How can they work in your best interest.

The MLS system has nearly all of the homes that are on the market and a good agent will also keep a database of homes that are for sale by the owner.  Find the agent who will work hard for you and help you find the perfect home before you start looking for homes.

Going to Open Houses

When you go to an open house, the person you will meet most likely be the listing agent.  If could also be a brand new agent looking to pick up some buyer leads.  Look at the previous sections for reasons why that is bad.  If you really want to look at open houses, get your Buyer's Agent to take you to them. 

Looking on the Internet for Homes

Since you found this page, it is obvious that you know how to search the internet.  But have you realized yet that is very hard to find quality and complete information on homes on the market.  Here are some of the problems you may find:

  • Real estate websites with no home information.
  • Real estate websites with information on a few homes.
  • Real estate websites with out of date or inaccurate information.
  • Real estate websites that offer you a rebate if you buy through them (NOTE:  That is illegal in the state of Missouri, so run from those sites....FAST!)
  • Real estate websites that aren't owned by a real estate company or agent.  These sites will ask you to sign up for something that sounds almost automated.  The reality is this company will send your information (a "lead") to an agent in the area who is paying for the service.  Unfortunately, most of the agents who pay for these services are so anxious to get "leads" they will pay for leads.  Sure you have a chance of getting a good, experienced agent.....but it's only a chance!  
  • Real estate websites that claim they have MLS (Multiple Listing Service), but they aren't even members of the local MLS.  If they have any home information at all, they have been taken from other places on the MLS.  Isn't it illegal just to take something that isn't yours?
  • Real estate websites, such as mine, that have a link to the IDX (Internet Data Exchange) through their local MLS.  These sites will have the most accurate information on homes for sale.  It's always up to date.  But it does have a drawback.  MLS rules do not allow for all the information on the homes in the MLS to be viewed by the prospective buyer via the IDX system.

In order to find out about the best homes for you without wasting your time, hire an agent who will do it for you.....some one who know what they are doing because they've done it many times before.

 

I hope this will help you understand the risks you take by just going out looking for houses by yourself.  All real estate agents are NOT created equal.  Spend the time to find an experienced and knowledgeable  agent to work for you (or do it quickly and call Linda),  Then let your agent do the work for you.

 

Linda Grissette, GRI, e-PRO Certified

The Best Seller GMAC Real Estate, 3829 Veterans Memorial, St. Peters, MO 63376 

Licensed in the state of Missouri.

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