This is the first in a 2-part series on buyer presentations:
Part 1: Why you should have one
Part 2: What you should expect from a presentation
If you are a first time home buyer, you need to learn a lot about the process of buying a home. And you need to decide who you want to work with in the purchase process. There are lots of agents out there, some good, some not.
Here are some thoughts on the value of having a buyer consultation with the agent you are considering.
If you were selling your home, you would have a signed contract to list the property. That means there is a defined relationship with an agent who has fiduciary responsibility to look out for your interests as the seller.
The same is true if you are buying a home – doesn’t it make sense to have a similar type of relationship with the agent you ask to help you with your purchase?
And even if you are experienced at buying, with the competition in the market and all the legal issues to consider, wouldn’t you prefer to have someone represent YOUR interests in the transaction?
DO NOT skip having a buyer presentation. It’s fine to meet an agent at an open house and spend some time talking, or hunt one down on-line – there’s a lot to be learned on-line or by Googling someone. But do your homework, and make sure the agent you hire is one you are really comfortable with, and feel will represent YOU in the purchase.
DON’T expect to just jump in the car and start touring homes without some work upfront. It will be a waste of time and you will not do a good of buying.
Know that a good agent, who takes the role of representation seriously, will want to spend the time to get to know you too, answer your questions, qualify you, and make sure everyone is comfortable working together before starting the process. If they don’t want to do this, you have the wrong person. Next!
A Buyer Presentation is also a way to learn about the purchase process (I also provide my buyer clients with an extensive Buyer Handbook) AND the agent you are considering hiring. Think of it as a job interview – a big part of the presentation is for you to learn more about the agent and decide “do I want this person to help me, or not?” As the CEO of your company, FIRST TIME BUYER, INC,. you have the most critical hiring decision to make. Keep in mind the agent (your potential employee) will be doing the same thing. You are going to be spending hundreds of thousands of dollars, or more.
Part 2 will focus on the presentation itself and the things you should inquire about, whether you are a first time home buyer or not.