Welcome back! Pick up where you left off.
Confirm your plan and zipcode
Select from 3 of our most popular plans for your zipcode
Term
2 Months
Rate
Fixed
What to expect from your Realtor as a first-time homebuyer
What to expect from your Realtor as a first-time homebuyer
There’s a lot to prepare for when you’re in the process of buying your first home. Researching the area you’d like to live in, saving for a down payment and getting pre-approved for a mortgage are all steps you should consider taking before you can call yourself a homeowner. But one of the most important steps is finding a reputable realtor who can help make the homebuying process as smooth as possible.
The word “Realtor” refers to someone who is an active member of the National Association of Realtors (NAR).i These members aren’t limited to just real estate agents — they can be home appraisers, property managers, real estate counselors or real estate brokers. While all licensed real estate agents have to meet a minimum hour quota of classroom instruction and pass a licensing test, Realtors must be members of their local real estate boards and pass a course on the NAR’s strict code of ethics and standards of practice.ii
This code is what sets Realtors apart from real estate agents; NAR members promise to never withhold information from anyone involved in a real estate transaction. This grants more transparency overall to the homebuying process — which can be useful if you’re a first-time buyer.
Realtors are considered experts on the topic of buying and selling a home. They’ll be able to clearly explain the process of home buying so that first-time buyers know what to expect. Realtors that work for homebuyers are also known as buyer’s agents, which means they will always act with your best interests in mind. A good Realtor will welcome any questions first-time buyers have and be able to answer honestly and objectively.
When you work with a Realtor, they’ll be able to help you find homes that fit your requirements and your desired price range. They’ll get to know your goals for your home and help you stay on target when it comes to meeting them during the homebuying process. They’ll be able to provide objective opinions on homes and help you see the whole picture when it comes to repair costs, the surrounding neighborhood or the local school system to help you make an informed decision.
Realtors operate under a strict code of ethics set by the National Association of Realtors (NAR). For homebuyers, that means your Realtor will always protect your best interests and avoid misrepresenting or hiding facts about a property. They’ll also never collect money under the table and present all documents pertaining to a home buying transaction in clearly understandable language. Should they fail to adhere to the code of ethics, they can be fined or even have their real estate license revoked. In other words, when you work with a Realtor as a first-time homebuyer, you know they can be trusted with your best interests.
Experienced Realtors are experts at searching the Multiple Listing Service (MLS) database to find the best homes that fit your criteria. They’re able to interpret the subtle language in real estate listings to determine if the home fits your needs. A good Realtor will regularly update homebuyers and provide them listings that they believe would be a good fit.
Once you’ve entered into a sale agreement with a seller, a Realtor will help guide you through the process of getting the home professionally inspected. This will ensure that you’re not purchasing a home with any hidden problems with the foundation, electrical or plumbing systems.
Once the appraisal is completed, your Realtor will be there to walk you through the closing process and make sure everything goes off without a hitch. They’ll help you prepare a written offer and prepare the rest of the necessary documents to complete the transaction. They’ll also be there to help you resolve any issues that arise during this process.
If you’re a first-time homebuyer, working with a Realtor is an invaluable step you should consider taking to ensure that you get the best possible result from the process of buying a home.
Are you buying your first home in Texas? When you’re ready to move in, choose Reliant energy to be your electricity provider. Click here to get started.
i Howstuffworks.com, How Realtors work
ii Hubspot.com, Realtor code of ethics