1.  Let your agent know how to contact you

Make sure your agent has your home, business and cell phone numbers, as well as your fax and e-mail. Then specify how you prefer to be contacted with a first, second and third choice. If you leave town, even for just a weekend, tell your agent how you can be contacted (name and number of the hotel, friend or place where staying). No phone where you’re going? Let your agent know you will not be able to receive calls until you return, but you may be able to be reached by e-mail or some other method.  Here’s why this is so important: If you’re waiting for a specific floor plan or model, or a home in a particular neighborhood to come on the market, your agent can advise you by phone, fax or e-mail of any new listings, giving you the opportunity to make an offer before other interested parties do.  If you’re a seller, and an offer to purchase your home is presented, your agent will need to find you quickly to discuss the terms and conditions, and whether to accept or respond to the contract.

2.  Get a stack of business cards from your agent 

Keep them with you at all times, and use them when you walk through an open house or when you meet another real estate agent who solicits your business (see #3).

3.  Always advise other agents that you are working with a Realtor 

Your Realtor can be prevented from earning a commission unless they personally accompany you when looking at any property (and that includes open houses and new home developments). Very few agents can continue to represent you and your interests without being compensated for their time and work. Always advise other agents that you have chosen a Realtor, and ask if looking at a property without your agent present will disqualify your agent from later representing you and your interests, and earning a commission. Better yet, call your agent and let them know if you want to see a property or schedule a viewing so they can represent you and make the arrangements for a showing.

 4.  If your buying criteria changes, let your agent know

This means if you decide that you will consider homes that are in a different price range, different size, different location, or will look at a home without a pool, a garage or that 4^th bedroom, let your agent know. The search parameters used in the MLS system are very specific. And only those properties with the specific characteristics you want will show as available from a Realtor’s daily search. So if you change any aspect of your future home (size, location, number of bedrooms, age, fireplace, pool, or price range) ask your agent to adjust the search. parameters to include your new criteria.

 5.  Use the Internet with discretion

The most widely used Internet source by consumers for real estate is Realtor.com. The listings on this website come directly from local and regional MLS associations, and at some point in time, may have been accurate and available. But here’s the problem: Realtor.com is not required to keep their information up to date. One of the big problems with Realtor.com is the number of outdated, sold and expired listings that still show as active properties. However, since Realtor.com wants both agents and web users to believe their value is in the content (the number of listings), there is a no incentive to remove outdated information. Your Realtor will have new listings long before they show up on Realtor.com, including the current status and availability of any home that is listed in the multiple listing service.

6 .  Call your Realtor first

If you see an interesting property with a “for sale” sign, simply write down the address and phone number, and call your Realtor.  Calling another agent immediately puts you at a disadvantage if the home turns out to be the one you want to make an offer on.  Your Realtor can obtain all the information about any property for sale and yes, that includes “for sale by owner”.  Many FSBO’s will co-operate with a buyer’s agent, and some actually welcome the opportunity as they know the offer is coming from a financially qualified buyer, represented by a professional who will make sure the transaction is handled properly.

 7.  Be honest with your Realtor 

If you have any issues concerning your ability to purchase, let your Realtor know up front. This includes derogatory credit, a non-final divorce, the length of time on your job, your available cash for down payment, and whether you need to sell your current home before you can purchase your next one. Remember that any of these (or all of these) are not necessarily going to keep you from buying a home. Your Realtor is in the real estate business and knows other professionals that can help with credit, loan approval, down payment, and a host of other issues. Your Realtor can be the nearest thing to a miracle worker, especially when they have all the information up front that could influence your home purchase.

8.  Avoid personally discussing price or terms with any seller    

This is especially true with property that is for sale by owner. Negotiation is an art, and in practice it is a combination of creative thinking, psychology, communication and business skill. Your agent does this for a living. Knowing when to be quiet and let your agent do the talking can put more money in your pocket and keep you from agreeing to something that you may later regret.

9.  Consider your Realtor’s recommendations for a lender

Many lenders (both local and web based) may try to tempt you with lower than market rates or promises of quick close times. These promises are usually made by loan reps paid on commission, and who may readily tell you anything to get your business. Remember, the only thing that counts in the lending business is what is put in writing. And unfortunately, most lender commitments are conditionalized with so many contingencies that they don’t have to honor any of their commitments, even though they may have promised you the world. And worse, if you are unable to close escrow due to poor lender performance, you could lose your new home. (Escrows have a specific closing date and are not “automatically extended.” An extension requires the agreement of both seller and buyer, and there are occasions in which sellers will choose not to extend.) So how do you pick a lender? By referral. Use a lender who has performed consistently in the past. And who would know that? That’s right. Your Realtor.

10.  Make a commitment to the process

Ask questions about anything and everything you don’t fully understand. Being informed about the process will make your home purchase easy and fun.