Real Estate FREQUENTLY ASKED QUESTIONS

How to choose and work with a good realtor

Q: What is a realtor? A: A realtor is a licensed real estate professional who is a member of the National Association of Realtors (NAR) and has agreed to abide by its code of ethics.

Q: How do I choose a good realtor? A: When choosing a realtor, it’s a good idea to ask friends and family for recommendations, check online reviews, and then interview some realtors and ask about their track record and experience. 

Q: What should I look for in a realtor? A: A good realtor should know your local market, ask about your needs and really stays in touch with you during the whole process.

Q: How do I work with a realtor? A: When working with a realtor, make sure to discuss your needs and goals. The more you tell them about what you want, the better. Start with the type of property you are interested in and your budget. Keep in touch and bring up any concerns or questions you have.

Q: How does a realtor help me buy or sell a house? A: Your realtor helps out by giving you guidance and advice, which helps you navigate all the legal and financial paperwork. Most importantly, the realtor negotiates for you to get the best deal possible.

Q: What should I expect from a realtor? A:  Regular updates and feedback. Good communication makes the whole process less stressful for you. A great realtor will stay in touch and explain everything as you move forward. 

Q: How much does it cost to work with a realtor? A: Normally, the seller pays the realtor’s commission as a percentage of the sales price. The buyer doesn’t have to pay anything to the realtor, in most cases. This is a great question to ask the realtor before you start looking at homes with them.

What to know when selling a house

Q: What are some tips for preparing my house for sale? A: Some of the best things you can do before you sell your house include getting rid of the clutter, cleaning out closets, remove most of your personalized photos and art, make obvious repairs and stage your house to look it’s best.

Q: How do I determine the right price for my house? A: A realtor can look at all the comparable home sales lately in your area and run a comparative market analysis (CMA) to come up with a good price that will sell quickly.

Q: How long does it usually take to sell a house? A: On average, it will take 60-90 days to close your home sale. That will be different based on local conditions in the real estate market.

Q: What are the costs associated with selling a house? A: Expect to pay for any repairs or upgrades and possibly some closing costs. The major expense will be the realtor commission and taxes/fees.

Q: Do I need to hire a realtor to sell my house? A: You can try to sell your house by yourself but people tend to have a lot less stress using an experienced realtor. They help you price your home, market it by listing it on the MLS website and even sharing your listing with other realtors they know. Where they really help is by negotiating for you. Keeping you out of the messy back and forth.

Q: What is a home inspection, and do I need one before selling my house? A: A home inspection will check out your house and gives the buyer a lot of peace of mind. It’s not required but it will help you fix any possible problems before you put the home up on the market.

Q: How can I attract potential buyers to my home? A: Some keys are to make sure you have great photos, stage it to look it’s very best and highlight what you want prospects to notice, and finally price it competitively. The first offers usually are the best ones when a home gets listed. Don’t think you’ll make more just leaving it sitting on the market a long time.

Q: What should I disclose to potential buyers about my house? A: The law requires you to disclose any known issues or defects to the buyer. Protect yourself by sharing all you know.

 What to know when buying a house 

Q: What are some tips for buying a home? A: Do good research on your local real estate market, get pre approved for a mortgage and consider the costs of owning a home. Research to find a good realtor as well.

Q: How much should I budget for a house? A: Budgets should be based on your income and expenses, plus expected future expenses. Generally, your monthly housing costs should not exceed 28% of your gross monthly income.

Q: What should I look for in a home? A: Make sure to look at what you like in a home now and in a few years. Consider commuting, neighborhood amenities, schools, and emergency services. Know in advance how many bedrooms and baths you prefer, what locations you prefer and what quality or condition you’d like to purchase.

Q: How do I make an offer on a home? A: The realtor will take care of making the offer for you, they will write it up with the purchase price, the closing date, and typical conditions and contingencies. An experienced realtor will have all the legal paperwork ready to go.

Q: What is a home inspection, and do I need one before buying a home? A: A home inspection is always recommended before you buy a home. There are a lot of things that can be missed in a simple walk through. Most lenders will require an inspection and an appraisal.

Q: How much should I offer on a home? A:  Three main things affect real estate prices. 1- the home’s condition, location, and market value. Let your realtor figure out prices, they have access to a lot of market data and can do a better job than you can.

Q: What is a mortgage, and how do I get one? A: A home loan is considered a mortgage and typically is 30 years long. In order to get a mortgage you’ll need to apply to a lender and share your financial information and credit history.

Q: What are the costs associated with buying a house? A: Here are the main costs when buying a home : the down payment, closing costs, home inspection fees, and any necessary repairs or upgrades to the home.