LOL! We live in a world of time-saving slang and acronyms...and the Real Estate Industry is no newcomer to such trends! Realtors and lenders alike are great about shortening a
How To Build Your Real Estate Squad
I often find my buyers and sellers at odds with where to start in their process of buying or selling their biggest, most valuable asset. It can be very easy for buyers to be caught up in online shopping, and it can be just as easy for sellers to start doing projects on their home figuring the TV and internet are good enough resources to know what buyers want.
Let's break it down...
Your "squad" is going to be a big one...get ready. But it all starts with two anchors: your Realtor and your lender. Both of these professionals should be with you hand in hand from start to finish. Maybe you talk to your lender first, or maybe your talk to a realtor first. Either way - it's time to commit to your two anchors (and they to you).
Your Realtor: This person is going to be key in consulting, searching and of course - getting you into those houses so you can start your decision process in person (and not online). This person should be a wealth of knowledge and resources...they should be because this is what they do everyday!
Your Lender: This person is equally as vital. What is more important than making sure your financing lines up with your dream home? Your lender should be talking you through the different loan programs that you qualify for, your max budget and your comfort budget. The cost of buying is more than just the sales price of the home, so be sure you know the true cost of buying, your qualifications and your comfort levels before diving too deep in the search.
Your Inspectors: You may have 1, you may have multiple - it all depends on the house and what inspections you deem needed. Inspections are done once you have gone under contract (this is typical of a standard home resales). This person typically gets paid up front, pre-settlement, and it's important you use someone who has great referrals and great ratings. Most of my buyers rely on my preferred inspectors. Your Realtor is your greatest resource!
Your Title Company: Also known as a settlement company, I like to think of these folks as worker bees. Your title company should be chosen (buyer's choice!) as soon as you go under contract so your Realtor can send them the contract - and those worker bees can get to work! They are doing title checks, flood plain checks, ordering surveys, etc. Ultimately, they work hand in hand with your Realtor and Lender to have paperwork together and in front of you ready to sign on the day of settlement. Did I mention you should use your Realtor as a resource for referrals?
Your "squad" is a bit smaller. That's right - just your Realtor! Oh my....what a heavy load your Realtor will have, so choose wisely!
Your Realtor: This person should be your one-stop-shop to the successful sale of your home. Listing agents should be great marketers - that means they are giving advice on/helping you stage your home, having professional photography done, and going above and beyond in online advertising. No more sticking a sign in the yard and hoping! You need someone who has a marketing process that is proven to work - as well as a few tricks up their sleeves if it doesn't. Your listing agent should be great communicators, giving you updates on the market and feedback from your showings. PRO TIP: Ask your potential Realtor if they attend appraisal meetings...
But hey - what about the appraiser? Aren't they apart of my squad?
Yes and no. The lender of the buyer will order the appraisal when the time is right. It is a lottery system as to who the appraiser is - so the entire system is fair in regards to the value of the house!
Buyers and Sellers:
Last, but certainly not least...your "squad" should be LOCAL! The more local, the better. Documents, taxes, forms, and best practices change from state to state and county to county. Make sure you are asking where your squad does the majority of their business.
Happy Hunting! Happy Selling!
Welcome Home Realty Group
Kat Royer is a graduate of Virginia Tech with a Bachelor’s degree in Hospitality and Tourism Management and minor in Real Estate. She worked for 7 years in operations and sales for a major internat....