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One of the things that homebuyers seem to take for granted is that every real estate agent knows how to negotiate. It’s much more than simply extending an offer and writing up a contract, and it’s something that not every agent knows how to do well. Of course, it’s important that every step of the home buying process is handled properly, which is why we recommend always choosing an experienced Realtor® with a great reputation.

But it’s not unusual for buyers to be so happy they’ve found the right home, that they forget how critical it is to have an experienced negotiator on their side. In fact, it’s not only the agent’s negotiating experience that matters – but also their knowledge of the area, the neighborhood, the history of the home, and even the Seller’s agent (and then some!). Having all this information not only allows your agent to exude an air of confidence, but it also means they’ll be able to be creative, flexible, and “read the room” – making sure they get the best deal possible on your behalf.

Once you’ve found the home that you love, it’s time to move on to the next step: Negotiating the deal and writing the sales contract. The contract will put all the details in writing, but the negotiation is where the competency of your Realtor® will play a major role through this process. If you have an experienced real estate agent who has written hundreds of sales contracts, you should be in good hands. Make sure that you take your time and ask any questions you may have (because we promise you, there are no dumb questions during this stage of the home buying process!).

Buyers in hot, or even warm, markets need to remember that no one gives anything away in real estate. Sellers may very likely have multiple offers on their home, and they get to pick and choose. If your agent makes a lowball offer while others are offering list price (or even more, which is common), you very likely receive a firm, “No.” – – And just like that, the home of your dreams is gone ☹

Agreeing on a price is just the beginning. Because even if you’re thinking you got a ‘smokin’ deal’ – remember how true this is: The devil is in the details. Some of those details that can end up putting you on the receiving end of a bad transaction include the appraisal, time frame, property inspection, who pays for needed repairs, costs and fees, seller incentives – – and the list goes on. There’s no point in buying a home for a great purchase price if you’re responsible for massive repair costs due to the inspection results. Or if the buyer doesn’t have to move for 8 months. Or, … well, you get the picture.

Don’t be the buyer that an inexperienced agent uses as their “Guinea Pig” to learn what not to do. Your time, money, and life are too important for that. Make sure your Realtor® knows their stuff, because it will save you much frustration, anxiety, and grief down the road.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

Wow. You’re about to be a first-time home buyer. That is a really, really big deal – and don’t let anyone tell you otherwise.

It’s a commitment – that’s for sure – of both your time and your money. But there’s something inherently different and satisfying about spending time working on your own home, and after all – we all have to live somewhere, so why not invest in yourself instead of a landlord’s real estate portfolio?

There is a lot to think about before you decide to buy, of course. For example: Is this the city you plan to stay for a few years? Do you know how much you can comfortably afford? Do you have enough down payment? (To find out more about that, we recommend you visit Premier Mortgage Lending to learn about their new 1% Down Loan Program.)

A while back, we talked here about many other things to consider before making the move from “Renter” to “ Home Buyer.” But if you’ve already reached the decision to start shopping for the perfect place to call your own, there are a few things about the process itself. Read on.

STEP 1: Get Your Finances and Credit in Order

In today’s rapid-fire real estate market, the last thing you want to happen when you find “The One” is to lose-out on it because you don’t have – or can’t get – mortgage loan approval. That’s why your first step should be to get a copy of your credit report. (You’re entitled by law to get a free updated credit report each year.)

STEP 2: Visit at Least Two Mortgage Lenders

Getting your credit report is great, but knowing how to evaluate it is something else. And there are many more steps in the mortgage loan process than just credit. You need to find out what those steps are, how your circumstances measure-up, if there are any things you need to fix or change, and discover how much of a mortgage loan you can qualify for. That last detail will also let you know the price range of homes you should be considering. (Trust us, there are few things worse than falling in love with a home that’s out of your price range!)

But why visit two lenders? Read our lips: So you can compare fees and interest rates. Not all lenders are the same – nor are all mortgage loans. Their fees can vary widely – from $0 to as much as 4-5% of your purchase price. If the interest rates are equal, you can see just how much your get-in-the-door / cash out of pocket will be. You’d be surprised how big the difference in cost can be. (And remember, just getting a loan estimate does not commit you to anything. You’re free to shop around as much as you want!)

STEP 3: Find the Right Realtor®.

Everyone has “a friend” who sells real estate. Or maybe it just seems like it. But our experience has been that once you reveal you’re in the market to being a home buyer, suddenly you discover that your cousin’s ex-husband’s sister-in-law’s best friend’s dog, Lulubelle, sells real estate – you should call her! We hate to be blunt, but here’s our take on that suggestion: W.R.O.N.G.

Why, you ask? (while thinking that we have an ulterior motive – which we don’t, but how do you know that?) Well, that’s precisely the point. You don’t know that. And you don’t know Lulubelle, either. Having a relative or friend that sells real estate is no way to choose your Realtor®.

First of all, if they have the experience, reputation and knowledge that you need in a Realtor®, you would already know about them. Those agents have spent long hours, days, months, and years building that reputation and gaining that knowledge. And they don’t typically need to go searching for new clients – because clients seek them for their expertise.

So, decide what area you want to live. And then do your homework to find out which Realtors® really know those neighborhoods. Interview them. Meet their team, because you’ll be working with them through this process, too. Ask questions and then listen to their answers. Your instincts will take you far in finding the right agent. The right Realtor® will be active in finding properties for you to consider, and help make the entire experience as seamless for you as possible.

Like we said in the beginning, buying your first home is no small decision. Plus, it’s the first of many, many decisions you’ll be making – especially in finding the home you love and getting a mortgage loan. Make it easy on yourself by putting a little effort into finding the best people for the job. Then – you just let them do their job, and you’ll have much smoother sailing.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!