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Learn About the Buying Process When I first start working with a client, I've found it very helpful to establish together some basic expectations so that when things do get intense, you will feel confident that you know what is happening and what's yet to come.
Setting Expectations
In my practice, I have developed some basic checklists of information to share with my clients at every step of the process. Together, we will review the checklist and discuss some of the more important points. At the beginning of the process, this will include designating a primary contact, how and at what times contact will be made (or not made), the method by which you would like to receive listings (e.g. web page, file, email, hardcopy or fax), your motivations and timelines, basic financial information, etc. In discussing the nuts and bolts of the process and your situation, we will determine together a level of service that will best suit you, with my guarantee.
Education
Later, we will review the contract and other offer-related paperwork together. I've found it immeasurably helpful for my clients to understand the contract before we get to the point of placing an offer on a home. There is so much to discuss and understand that some clients find it difficult to wrap their heads around it all--especially in the excitement of having found the "right one". If we can discuss the options (As-Is, Home Sale contingencies, etc.) and local customs (earnest money, etc.) in the earlier stages, then we can move quickly and efficiently through the offer without getting bogged down in the contract verbage.
Making a Contact Plan
Communication is critical. I want to be able to reach you when I need to, but I also want to accommodate your schedules as much as possible. Therefore, we will discuss at the beginning whom I may contact and when.
Generally, it's best to set one person as a primary contact. In the case of a couple, one of the two should be my primary contact--but I recognize that in some cases, both will want to be notified of news, decisions and options. As long as expectations are set in advance, I will be happy to accommodate almost any request.
Once we've decided who my primary contact is, we will talk about how I can best reach that person (phone, email, cell). Additionally, we'll talk about your schedules and determine the best times to talk (perhaps even setting "blackout" times, such as kids' bedtimes, etc.). With a contact plan in place, everyone should feel comfortable with their role in the process.
Information Sharing Plan
In almost every case, finding the right new home for you will involve an effort on both our parts. Each individual effort, however, will be wasted if not effectively shared with the other party. Therefore, it's important to set ahead of time how we will provide each other information and feedback.
There are many sources of information to be shared: open houses, listings, "drive-bys", etc. For my part, I will be sending you listings based on your stated wants and needs for your review. Those listings can be delivered in the following delivery formats:
•Web-based With this delivery method, you will log into a website, review and make comments on listings, and indicate your level of interest in individual properties. Browser requirements for available MLS software may require updating and of course, Internet access is required.
•File-based I can convert listings into a single PDF file and email that file to you. You will need Adobe Acrobat software to open the file, which is commonly and freely available.
•Email With this method, the listing images will appear in the body of an email. However, free email subscription services severely limit the sizes of files and may make email delivery very difficult.
•Fax I will send listings to your fax machine (or eFax)
•Print I will mail you listings by snail mail
You will probably be searching listings on your own as well. You may find listings through this website, Realtor.com, KSGMAC.com, chicagotribune.com, or perhaps another broker's site. You may spend your Sundays attending open houses or driving around areas you like looking for available properties. I strongly support all of these efforts! But here are a few considerations:
Open Houses
Open houses are wonderful, because they give buyers a strong sense of the available market easily and quickly. In a given afternoon, you could probably view upwards of ten properties! As we begin working together, I will help you set up a "tour" of open houses on the days you are available. I can even help provide directions and maps to get from property to property, if needed.
What open houses typically don't do is sell the property that is being hosted. It turns out that only around 10% of homes sell from open houses! What open houses *do* do is provide new business opportunities for the hosting agent, who is often the listing agent. See my discussion about working with listing agents.
When you arrive at the open house, please sign in. The owner of the home has the right to know who has toured his or her home. If you were in their shoes, you would appreciate that information as well. You can always opt to not be contacted, which agents take seriously, so there is no "danger" in giving out your name, address and phone number or email address.
Make sure you let the hosting agent know that you are working with an agent: enter my name on the sign-in sheet next to yours, and inform the agent that you are a client of mine or hand her my business card (even if we've yet to speak--doing so will ensure that the hosting agent will leave you alone). Agents respect one another's business, and a good host will follow up with me to get your feedback on the home rather than bother you.
New Construction "Open Houses" or Events
If you attend an open house for new construction it is critical that you enter my name as your agent when you first sign in. Many people simply do not understand how new construction works and assume that because they're "just looking" at this stage, there's no need to name an agent. However, if you don't designate your agent immediately, the developer will never allow me to represent you: you will work directly with their agents and have no impartial representation. You are then working in an effective "dual agency" situation (click here for discussion). This is clearly not in your best interests, so I always educate my clients on this matter.
Found Something?
When you do find something that looks interesting, whether on-line, in print, during an open house tour or simply by driving by and seeing a sign, your next step is a simple one: call me! I will do some preliminary research and get you a full listing sheet and some basic information and set up an appointment for us to see the home together.
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