I recommend interviewing a realtor before hiring, similar to a job interview.

There is a book, home buying for dummies. I recommended it, you may not have the experience nor common sense to proceed.

@User for your information I am a first time home buyer. Has nothing to do with lack of common sense.

You can't lack common sense and also be a first time home buyer?

You OP suggests that you can!

If he hasn’t signed you up to receive the automatic list of mls listings that meet your criteria you should ask him to do so. If he doesn’t immediately, find another realtor.

Around here (Tampa area) houses are still selling fast . Often they are already “pending” when they hit Zillow or Realtor.

@Stax stating someone is inexperienced or lacks "common sense" such as @User did is in fact labeling. It has absolutely NOTHING to do with "common sense" and that's a jerk thing to say to someone just asking for an experienced buyers input, being A FIRST TIME BUYER!!

@Stax considering your commenting on MY post, don't flatter yourself!!

My former boss used to say if you wanted to sell your house, you needed to find a hungry realtor. I don’t think your buyer’s agent (realtor) is very hungry.

Debra Hoff, did you sign a buyers agent agreement with this agent? IF not, you are free to call any other agent you want to, nothing is binding you. If you did, tell him, you are not happy with his representation and you want to cancel. Find someone who you want to work with and who is excited to help you.

@Linda Thank you! The only paperwork signed was the offer on a home we looked at. He did refer me to a lender so I had some concern with changing Realtors. Wasn't sure if it could jeopardize financing being it was his referral.

He actually told me he is in the market himself and in contract but suggested I wait to buy. That didn't sit well with me. His focus is on himself not our search.

Agree with Linda. If you haven't signed a buyers agent agreement, look for someone else. If you have signed one, cancel it in writing. This is not the kind of market that you can wait for that agent to finish his own purchase before you begin your purchase IMO.

Don't worry about the lender. If the lender is working for you, just let him know you are going with another agent. The LO won't think anything of it.

Referring you to a lender who then pre-approved you is not a big deal, unless you had tried other lenders and had been rejected. If that is the case, then I would very carefully read the lending docs.

One of the biggest financial commitments you will make and you are asking for free advice on an internet forum. Where is the common sense?

@User related to the topic of BUYING and SELLING homes. Where's your common sense KEYBOARD WARRIOR 🤔

Your past posts show that you’re an undercapitalized non serious buyer. That’s what he is responding to.

@User Non serious. You get that from an internet forum? Lmao! Common sense isn't so common these days, is it now?

Plus there is that whole abrasiveness thing exhibited on every post.

@User 👍

Maybe your agent just doesn't want to work for you.

@sushipup1 Realtor is shopping for his own house actually

One of the biggest financial commitments you will make and you are asking for free advice on an internet forum. Where is the common sense?

Actually, that is incredibly sensible. Anonymous advice is a sure fire way to remove the principal-agent problem that is going to exist with most professional real estate advice.

In the future, I suggest reddit's r/firsttimehomebuyer or r/personalfinance or r/realestate. There you will find good answers by people who enjoy helping.

Thank you to the ones that can share their experience with grace and not belittle someone for reaching out and doing research before making possibly the biggest financial decision they would ever make in their life! And most exciting time of their life.

Any wise person is going to do the research before pulling the trigger on something as serious as buying a home.

Debra,

Our daughter is going through this right now, first time buyer and we live clear across the country. We suggested she find a buyers agent she is working with a woman who has her best interest in mind knows the process in her area and can guide her through this. As for the pre approval loan that stays with you not the realtor, you can and should shop for this. I highly suggest a local credit union many times their fees are lower and because of their size you usually get a more personal approach. In addition you need to search for any first time home buyer benefits. Our daughter is buying in D. C. they give first time buyers a lower tax on the closing from 1.1 % to .75.

You deserve an agent that will help you find the perfect home and is staying in touch when new homes come up in your desired area/price.

You also deserve to have any and all questions answered no matter how small they may seem.

Good luck finding your new home

@Diane Thank you for your feedback. I do appreciate getting insight from others that are in the process or have been a first time buyer. Whether or not the question seems like nonsense to some that lack the ability to understand; we have all been a FIRST TIME BUYER before and do have questions.

The decision was made to no longer waste time with the agent we have been working with for the past 8 weeks. His lack of earnestness to assist with such a serious commitment does not deserve my continued business. Telling a client to wait on a home purchase yet the Realtor himself is shopping around and in contract on a home speaks volumes of the lack of commitment to assist us in our search. The agent we went with has plenty of positive reviews and backing to deserve a chance in assisting us. With numerous sales and compliments of guiding many first time buyer's this was an easy decision given our experience with the last Realtor!

Only reason we didn't walk away sooner was to give him a fair chance in helping us but after so long with no result's we had enough, especially when we discovered he was busy shopping for his own house. Explains 100% why he lacked dedication in finding us a home.

Good luck to your daughter as well :)

passive-aggressive, perhaps a personality issue. Looking for assurance on the internet....hired a realtor who did not work for the client....went from “I” to “we”......

Clearly a troll.....

Or a gate keeper

Spend your energy on “hiring” a realtor and research....

@User I'd rather pay for advice than take your "free" advice!

Obviously a basement dweller with ample time on their hands, Troll along.

My first real estate buy involved a buyer’s agent. The detailed agreement and the retainer that I paid them up front for their work, ensured that my best interests were being represented zealously. That retainer was held against the commission from the sale, so in the end it cost me nothing. It was only had I not bought something that the retainer would be kept. I’m not a fan of dual agency, and the issues that can arise from that.

I‘d very much recommend a buyers agent, but this is really not the best time to find a first home. The market cool down that is inevitably in the future will be the best time to buy. All while you keep saving to increase your market maneuverability.

@User The market is hot right now. Perhaps closer to the holidays and colder weather it would slow down. Either way checking daily for new opportunities. The agent we chose has great reviews so we should be much better off now.

Debra, the suggestion to look into first time homebuyer financing programs is a good one. However, make sure you compare all the costs. I'm a Realtor (more than 40 years) and these programs vary in cost all over the place. Some are good, decent programs and others are extremely costly to the borrower (excess fees and higher than market interest rates) with no real benefit to the buyer/borrower. Your agent should be able to point you in a direction for the best programs in your area. Different lenders have different programs available.

Great! That is a good program. Did the lender provide the approx closing costs for you? Zero down only refers to the down payment portion and not the closing cost portion.

I was 18 when I purchased my first home. I did my research and hired a reputable realtor, who was well reviewed and came highly recommended (recommendations and reviews he was actually paying for).

He took advantage of my lack of experience and managed to break a couple of laws along the way. He was sure that an 18 year old kid wouldn't know any better and he was right. He advised that I pay asking price for a house that had been on the market for several months and then paid the home inspector out of his pocket and had me reimburse him after closing. The inspector issued the report to the realtor, rather than to me, and the realtor only noted that it came back clean. I only got the actual report when I paid for it about ten minutes after closing. It did not come back clean...

There are very few defenses for asymmetry of information, realtors have worked hard to divorce themselves from a fiduciary duty, if you ask another realtor, you are gambling that their "goodness" will overcome their desire to get another client. Forums, and the internet in general, give you access to experience you don't have on your own... i.e. common sense.

As for that realtor, about fifteen years ago I got him removed from a development partnership because I refused to do business with him. That partnership has had three successful mixed use shopping centers / multi-unit housing developments without him... Which one of us really had no common sense?

@Denita closing costs will not be more than $4,000 depending on the size of the loan but that can be included with the offer (over asking) and seller to pay.

Depends on your market. In a strong sellers market, the sellers may not be willing to pay any of your closing costs at all since the sellers have their own substantial closing costs. Some sellers will pay some costs. But in a strong market they may not be willing to pay all of your costs. As to going over the list price - remember, it is subject to an appraisal. Your new Realtor and lender can work together with you to come up with a strategy.

The $4k is a rough estimate. There are lender closing costs, title co closing costs and government fees and taxes. Get a breakdown on a given property so you have a realistic idea of actual costs. In my area you can have two homes with the same sales price and have widely different closing costs due to taxes, hoa fees, insurance cost, etc. I am mentioning this because I haven't seen closing costs as low as $4k in many, many years. Some LO's only quote a portion of the costs until they are required to provide the LE (Loan Estimate). Have your LO give you a real life estimate - not the official LE just yet, so you can educate yourself on the full amount needed to close.

Very hot market right now in Ohio. The homes are in contract within 2 days. I have noticed some are lasting longer now than they were in optimal months, summer time. The ones staying on the market longer tend to be at an asking of $100,000 more than what it sold for 2-3 years ago.

@bry911 The Realtor we chose to work with now, we actually met with earlier this year. He showed us a home knowing we did not yet have our approval. And he was committed to helping us, even when someone else unexpectedly arrived during our showing and tried entering the home. He devoted the time to us, not attempt to gain another client that could have had an approval that we did not.

I viewed his Facebook and internet reviews and saw a lot of positive reviews, mention of guiding first time buyers as well as not being a pushy salesman and actually finding homes the buyers like. I want someone that is going to dedicate their time to helping us find our first home and guide us along the way, offering insight without even having to ask beforehand. I actually had to ask the agent we just broke away from to set us up on the MLS listings. In a hot market MLS is vital before Zillow or other sites that are not up to speed with current listing status. He was also offering insight on a subject but he never called to discuss, so that also sealed the deal with changing agents.

A Realtor taking advantage of lack of experience is exactly what brought me here, I want to avoid that and although I expect my Realtor to guide us along the way I also like advice from someone on my level not someone that is doing this for a job and has to make a sale.

A Realtor that can guide first time home buyers with the evidence shown on their social media platform proven through pictures of happy clients in my opinion is a good way to ensure you have someone in your corner.

I'd also like to add, Advice from Realtors on this forum is appreciated, they gain nothing in shedding some of their own expertise's and it speaks volumes of the kind of Realtor they are!

Debra - Jim’s comment that you screenshotted looks terrible at first glance, but if you go read that lady’s original post, it actually is a good response. It’s a lady with small kids, depression (PPD?), and a husband who doesn’t believe her about the bugs. She seemed (and in fact alluded to) the fact she was at the end of her rope.

@makmartell I will stick to my impression of Jim regardless. Rude and unnecessary comments. That along with his representation on my thread proves he's an internet troll.

Uh, Debra, Jim's been a good citizen a lot longer time around here than you have.

@sushipup1 define "good". Surely not impressed at his contribution on MY thread. I don't care if I've used this site for 20 minutes, it doesn't excuse someone to belittle!! PERIOD

Maybe you should read through his nasty comments and then tell me I am wrong......

Jim Mat

4 days ago

One of the biggest financial commitments you will make and you are asking for free advice on an internet forum. Where is the common sense?

Debra Hoff: good luck! yes , if you did not sign anything at all with a realtor that has no knowledge or dont know what they are doing, you can just walk away.

My story is same as yours! luckily my partner used to be in a mortgage company and knows what realtor does as well!

Im hoping you have all your tax transcript or ammended returns proof just in case you dont know. I signed my closing disclosure sept 19 2020 and supposed to clear to close on or the final approval on the 26 of sept 2020. I did not make it, my ammended 2018 return is not showing up and i dont have any proof at all if irs received it. I called irs everyday, also make an appointment with them but they cant able to help me. So theres no closing going on and you know what Im packed up, electricity, internet , mails are in the house i supposed to close but my bank told me we cant close. So until now still waiting an update. Sadly, yesterday, the dream home that I want somebody offered it already. Goodluck to you Debra!

yt: heyitsacebuana