If you're looking to buy your first home, then working with an experienced real estate agent will certainly have its benefits. Specifically, a real estate agent will be able to help match you up with the perfect house to suit your needs and budget. Furthermore, since sellers are responsible for paying an agent's commission, you can retain one free of charge when you're a first-time buyer.
As you prepare for your first meeting with your chosen real estate agent, there are a few questions you can generally anticipate being asked.
1. Have You Been Pre-Approved for a Mortgage?
The first question a real estate agent will probably ask you is whether or not you've been pre-approved for a mortgage yet. Most agents will want you to have proof of pre-approval (usually in the form of a pre-approval letter), as this will demonstrate to them (and potential home sellers) that you're serious about buying. Getting pre-approved for a mortgage generally takes just a few minutes and can be done online, so consider tackling this step before your first appointment.
2. What Types of Properties Are You Interested In?
Another important question your real estate agent is likely to ask you is what types of properties you're interested in looking at. For example, are you only interested in single-family homes, or are you open to seeing condominiums, duplexes, and other types of residences? You might also be asked if you're willing to look at homes that are for-sale-by-owner, bank-owned, or short sales.
3. Do You Have a Specific Budget in Mind?
You don't need to have your budget completely nailed down, but it's helpful to have a general idea of how much you're willing (and able) to spend. Generally, you should plan on spending no more than the amount you've been pre-approved for by a lender.
4. What Other Criteria Are You Looking for in a Home?
If there are other specific criteria you have in mind for your first home, such as a certain square footage or number of bedrooms/bathrooms, consider making a list to give to your real estate agent during your first appointment. This will help him or her begin narrowing down options that may be worth showing you in-person.
Your first meeting with a real estate agent will involve a lot of questions and getting to know you, but these are just a few that you can bet on being asked about!Share