When is the right time to contact a Realtor? With so many Real Estate websites and resources like Zillow and Realtor.com it’s not uncommon for Homebuyers to put off contacting a Realtor until they’ve identified properties that interest them. But, contacting a Realtor before you’re ready to buy a home, or have identified any potential homes, offers several significant benefits. These benefits will make the process smoother and help you to be successful when the time comes to make your purchase.
Understanding the Local Market
One of the primary reasons to contact a Realtor early is to gain a deeper understanding of the local real estate market. A local Realtor can provide valuable information on market trends, pricing, and the availability of homes in your desired area. This insight is crucial in setting realistic expectations and making sure you have accurate and up-to-date information. Buying a home is one of the biggest and most important purchases most people make in their lifetime. Even if you’ve bought multiple homes over the years bringing in an expert early on in the process to partner with helps ensure your success!
Time to Prepare
A good Realtor will happily partner and work with you in advance of showing homes and writing offers. During this period you will have the opportunity to get to know that Realtor. You’ll experience their work style, and whether or not it’s a good match for you. Similarly they will be able to learn about you, your real estate and life goals, your preferences, and the things that are most important to you in your next home. By establishing this collaborative relationship early, when it comes time to view homes and consider writing offers, you and your Realtor will be aligned and highly effective partners.
Less Pressure
Working with a Realtor before you’re ready to buy a home also reduces pressure. You’ll have time to ask questions, do research, and go through the process at a comfortable pace. This will help to ensure you make informed decisions. Whether you’re an experienced homeowner or a first time buyer, a good Realtor will be able to take off some of the pressure that comes with the home buying process. Knowledge, market data, and local information make you a better and and more informed Buyer. A good Realtor freely share that knowledge, market data, and information.
Financial Guidance
A Realtor can also help guide you through some of the financial considerations of buying a home, such as cash for down payments, the cost of various property inspections you may need to pay for, and getting pre-approved for a mortgage. Pre-approval strengthens your position as a buyer and gives you a clearer picture of what you can afford. Realtors often have relationships with mortgage brokers and lenders, and they can recommend trusted professionals to help you secure financing. And this is very important: If you will be financing your home purchase you must have a pre-approval letter before submitting offers. This confirms to sellers that you have the necessary financial resources to purchase their home. Without that pre-approval it is highly unlikely that a Seller would consider your offer.
Real Estate Practice Changes Affecting Buyers
Recently there have been certain mandated practice changes for Realtors. Since August 17, 2024 Realtors are required to have a Buyer Representation Agreement (a contract) in place before conducting property showing services. In other words Realtors can’t show you homes – in person or virtually – without this agreement. By contacting and working with a Realtor early in the process, you can make sure you have a Buyer Representation Agreement in place. This way when you’re ready to begin viewing homes there will not be a delay. If you’d like more information about these new practice changes that may affect you as a buyer, please contact me. I would be happy to take your call or respond to your email with more specific details.
In summary, contacting a realtor early allows for planning, preparation, and the ability to gain valuable market knowledge. All this puts you in a stronger position when you’re ready to make an offer to purchase a home.
Please don’t hesitate to contact me as early as you’d like in your consideration of a home purchase. In other words, even if you’re “just thinking about it” I’d be happy to speak with you. I can provide you with the information and support you’ll need to make a decision about whether now is the right time to make a move.
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