Getting on MLS & Finding your Realtor

You’re ready to buy a house. Maybe you’re family is growing or you’ve become an empty nester, because your parents are pressuring you into it, because you hate paying for rent, because you feel like you hit a certain age, or maybe just because you feel like your dog needs a backyard.

Always make sure to choose to buy your home because you in your specific situation is ready for it. Know the facts and feel prepared. It’s exhilarating, comforting, and terrifying especially the first time you buy. That’s why I have some information along the way, so you can feel the best you can as you dive in.

If it’s 2021, you probably started looking for houses on Zillow or Realtor. This is a good first step, but the houses aren’t always ‘real’. 

“Like they don’t exist?” Haha no. They do exist as buildings on land, however, in Missouri and Kansas, the MLS (Multiple Listing Service) is the only tool guaranteed to keep listings updated. As soon as the property is on the market, it’s on MLS. As soon as a deal goes under contract or closes, it’s updated. Sometimes, other services don’t update their information until time has passed. Nonetheless, you may find a jewel of one sold by owner and can actually get in before it’s sold.

But let’s say the markets hot. Let’s say you’ve found you have enough saved up for a down payment.

You’re going to want to get on MLS. It is the listing service used by brokerages, realtors, and therefore sellers and buyers, to find homes on the market, details about them, and the fact that they are for sale!

This is the main, most updated, and even required platform for a house to enter and be sold through, if sold by a realtor.

Once you find a realtor, you can ask them to add you to MLS, even before signing a buyers or sellers agreement with them, and start scouring the market for houses that fit your need and your price range.

Your realtor can also help set the constraints. Let’s say you want a detached property in a specific school zone for under a specific amount. You can see how many new houses hit the market each day, how quickly they sell, and most important, decide if you chose the right price point for your area or if you need to raise your price range or lower your expectations. Do this before you get into a bidding war or see the property of your dreams so you have a realistic view of current costs in your favorite neighborhoods.  

If you’re buying a home, get a realtor! Standard practice when buying a home is to have the seller pay both the sellers and buyers’ realtor. So you’re in the clear as a buyer! And as a seller, pick a realtor that does such a stellar job that you feel they earned that commission!

Realtors are everywhere nowadays. You can get them online, from friends, or from a bus stop bench.

97% of home buyers used the internet when searching for their home and 88% still used a realtor (1). While there is copious amount of information and help to be gained by going online, there is nothing like having someone in your court, narrowing down the search, and helping you find and obtain that perfect home!

My recommendation, get a recommendation from a friend. Someone you fully trust to let you know what they loved and didn’t like about their person. Then, if what they loved is something you want and what they didn’t like is acceptable, get in contact and vet them out.

How? Ask to grab dinner or get a beer. Ask them to a coffeeshop or a dog park. Over Zoom or a phone call. Where may be a happy place for you to meet someone. You will likely be spending enough time with this person and asking what may feel like ‘dumb’ questions (don’t worry, they aren’t) and you want someone you’re comfortable with any level of question you have throughout the full process. 

Note: If your realtor ever makes you feel less than great, if you ask questions and they’re vague or you find out they’re wrong, know that you can let them know the relationship isn’t working and you would like to start looking elsewhere.

This is a big decision and over 90% of people would use their realtor again (2). Make sure you find someone making the process worth your time and energy.

Not great with confrontation? Try the following. “I really appreciate all your assistance in helping us find a home. However, after seeing a few houses, I’m not sure now’s the exact time to do so. If needed, we’ll know how to get in touch. Thanks!”

Ok with just a little confrontation: “I really appreciate all your assistance in helping us find a home. However, I’m not sure this relationship is the best fit for us. You’ve been great, but I think we’re going to go in a different direction. Thanks!”  

Now, if you’ve signed a buyers or sellers agreement with the agent, you do need to be more direct since you will need out of the contract, but when you’re dealing with hundreds of thousands of dollars, or even tens of thousands for a tiny home or extreme fixer upper, you should be comfortable giving them their commission.

The biggest thing is you feel they are there for you. I can’t stress enough finding someone you can have a conversation with, especially if it’s your first time buying a house. I had so many questions along the way like what problems do you see with the house, do you think this is actually a good price, why do they need to make these house updates for a FHA Loan, what are these costs for, and is there anything else I should be aware of or looking for in a property?  

Find someone who helps you feel good about making one of the biggest money decisions and helps you take the necessary step to buying something right for you!

References:

(1) (2) https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers