What do you look for in selecting a buyer's agent and a mortgage lender for a first time buyer?

Asked by Cece Vee, Los Angeles, CA Sun Feb 15, 2009

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Tova Sarir, Agent, Beverly Hills, CA
Sun Feb 15, 2009
Hi Cece,
When selecting a buyer's agent, make sure they have the time to do a buyer's consultation and tell you all about the buying process and to define your wants and needs and to learn about your lifestyle as a first time buyer. Have them provide you a homebuyer's package which will be usefull for you and let them go over it with you.
Also make sure they have the time to show you homes around your working schedulle. Look for someone to listen to you. Make sure they are familiar with the area you are looking for homes for. Let them show you comps about what has been sold in the area that you are looking for.
Let your realtor guide you to a good mortgage lender to help you out.

Feel free to contact me if you have any further questions.

Best of luck,

Tova Sarir
Keller Williams Realty Beverly Hills
Web Reference:  http://www.tovasarir.com
1 vote
David Cooper, Agent, Los Angeles, CA
Sat May 28, 2011
I want to hire a Buyer's Agent that gets results. Show me the number of completed sales in the last year where you represented buyer's? And look for agents that handle the price range and area your are considering?
For the best service on a loan, I would work with the loan company the agent uses.

David Cooper. Las Vegas Investor in Bank Owned REOs at 20% off. Freee list
email: davidcooper@lasvegaswinner.org Call _1-7024997037
0 votes
Dorene Slavi…, Agent, Torrance, CA
Sat May 28, 2011
Hi Cece,
For the buyer agent, ask a few qustions such as...do you enjoy working with buyers and especially first-time buyers? You might be suprized at the answers you get.
Ask for past cllients as references as well. Specifically trained "Buyer Agents" have taken additional courses and have a ABR designation, which shows a dedication to working with buyers. Spend some time meeting with your potential agent to get to know them. You should be able to communicate well, and have a good rapport with them.
Often your Agent will be able to assist you with a mortgage officer, or you can speak to the loan officer at your personal bank.
Web Reference:  http://www.doreneslavitz.com
0 votes
David Chambe…, , Saint Petersburg, FL
Sun Mar 29, 2009
From my blog:
How to choose a residential Realtor

Part 2 Buyers side

Before you shop for an agent make sure you get pre-approved for a loan. That way if you have any credit issues you can fix them while you are looking for a home. Also why waste your time searching for a home when you don’t know how much a lender will lend you. Web Reference: http://www.floridadreamloans.com/AreYouPre-Approved

Unlike the sellers side I don’t see the need to interview a number of agents, I would suggest putting a few to work and see what happens. This way you can judge them based on actual work performed as opposed to what they say they will do.

I would ask for referrals from friends and family along with scouting for them on the internet, visiting offices and open houses. Once you find a few that you have a connection with, ask them to set you up on some type of automated internet search that updates automatically based on your criteria(size, location, price etc). I use what’s called a client gateway it appears as a personalized website. You can save, comment or exclude properties. It is a great tool to communicate with clients but not all realtors associations provide such a tool, some just give agents sheets of properties.

In either case over the first couple of days communicate about the properties. See what type of responses you get and how fast, the agent should start narrowing down what you want even in the first couple of days. Ask a lot of questions about the neighborhoods even if you know the answers to the questions to get a feel for their knowledge of the area. The agent should check their e-mail a few times a day. They should answer their phone or respond promptly. At some point inquire about lowball offer on one of the properties, this serves a couple of points, if they immediately find a way out of doing a lowball offer get rid of them. If they try to calculate what the value is then says lets go lower it to give us some room, you might want to keep them. Each response will vary but the goal is to try to find out if the agent is willing to negotiate and how far they are willing to go. I hear a lot of agents say they don’t want to insult the seller, if the agent tells you this get rid of them.

Qualities you should find in a good agent during this process: Honesty, quick responses, availability, knowledge of market and good communication skills. They should not pressure you into buying a home, it is your job to pick a home. There job is to help you find your house, then help you get it at a good price at the right terms.

A few days of this should help you choose an agent. Once you have chosen an agent stick with them and let the other agents know that you have chosen to work with another agent exclusively and why you chose them.
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Feb 15, 2009

a) are both professionals willing to invest time explain details to you
b) available work around YOUR professional and personal lifestyle
c) listen to all your questions provide you documents you feel necessary to review

KEEP in mind that realtors are professionals with client obligations during day and weekend. Many clients believe we are short order cooks work within agreed appointment times schedules.
Web Reference:  http://www.lynn911.com
0 votes
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