Yesterday, we discussed credit and the reasons why you should contact a mortgage lender such as Allied Mortgage Group before contacting a real estate professional or realtor.  Today, we are going to discuss how to choose a realtor. 

Once you are pre-approved for a mortgage now it is time to call a Realtor and make an appointment. At this appointment you will interview them as if they had just applied for a job with you.  Why should you do this? Great question.  The reason to interview a realtor is to make sure they are a good fit for you. Not every realtor is a good fit and will have your best interest.  You want to ask questions such as "What areas are they most familiar with?", "Are they mostly a listing agent versus a buyers agent?", "Will you email me listings instead of calling", "How many houses should I look at before making a decision?", "What designations do you have and what associations do you belong to?" 

The reason why you want to know the type of designations has to do with their continuing education.  The more educated a Realtor is the better they can serve you.  Not every Realtor is a member of the National Association of Realtors.  This association is an important credential.  They have their own certifications and every member must abide by the code of ethics.  You can call the associations they belong to and research the prospective real estate professional to see if there are any complaints against them, ask how many homes they have sold or listed.  Once you are satisfied with their answers and their professionalism then you and the realtor can begin the relationship. This is where you hand them your pre-approval letter from Allied Mortgage Group. 

During the home search process I recommend for you to carry a small notepad around to make notes on every house the realtor shows you.  This way you do not get confused. Also, on a separate sheet make 2 columns.  The first column should be titled "What I Like About the House", and the 2nd column should be titled "what I do not like about the House".  This will help you to assist the realtor to know what in each home what you liked the best and what you want to stay away from.  This narrows down the amount of houses to see.

During the home search you will be enticed to look at open houses.  Mind you there is nothing wrong with looking at an open house. Take your note pad with you.  When you enter the open house there is a Realtor who will be there showing the home.  When signing in the sign-in book make sure you put your realtors name down to inform the sellers realtor you are represented by a realtor already.  Otherwise, they will call you and try to gain your business to sell that particular home.  Remember, these realtors represent the seller and are looking at their self-interests.  It is hard to be a dual agent. Some states have special contracts for buyers and sellers to sign that state the selling agent is a dual agent representing the buyer. This is why it is best to have another independant realtor represent you. 

Once you have found a house your realtor will help you draft a bid for the home of your dreams. 

Tomorrow we shall discuss what happens from the bid to the loan process.