A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
The right Realtor will make the difference
I was talking to one of my Tenants, she is a very nice
person and a very good Tenant and she was telling me that she was thinking
about buying a home. As much as I hate to lose her as a Tenant, I know that she
should buy. She asked me if I could help her and I had to decline as much as I
would like to. Being that I am in the Property Management business, I just can’t
give a buyer the amount of time that is necessary to be a good buyer’s agent.
Buyers Agent
What does it mean to be a good buyer’s agent?
Being a good buyer’s agent and I emphasize good, is a very difficult
part of Real Estate. A good buyer’s agent has to be ready to jump when new
properties come on the market, especially in a market like we have in Southern
California where the inventory is low. The first thing a buyer’s agent needs to
do is get the buyer approved for a loan and once the agent knows the amount the
client is comfortable with, then they can move on finding the home. If your
agent is showing you homes without getting your loan in place first, you have a
very bad buyer’s agent.
Qualities of a Buyers Agent
Let’s look at what you need to look for when dealing with an
agent if you are really ready to buy. What I talked about before, getting the
loan in place fist is very important. If your Realtor is showing you properties
without knowing what you can afford, you are wasting time. Good Realtors don’t
have time to waist. When I first started in Real Estate, the manager told me
just put someone in my car and show them properties. It did not take me long to
find out the manager was wrong. I understand his reasoning; he wanted me to get
experience, but not a good way to sell homes. If your Realtor does not get your
loan in place, get a new Realtor.
Next, your Realtor needs to be a full time Realtor. Why? New
properties come out all the time and a good buyer’s agent has to be on top of
them ready to preview them and show you the property if it fits your criteria
right away. A good property will go fast, and a good agent understands that.
Part time agents are doing other things and are not on top of new properties
when they come out. Here is what a part time agent does. They set you up so you
receive new properties via e-mail and they wait for you to ask to see them. Not
a good way to find a home. I was talking to an acquaintance and she was
frustrated that her agent is not finding her a home. Again she was using a
friend that was dipping her toe in the Real Estate business. Real Estate is a profession;
you would not go to a dentist who is doing dentistry on the side, would you?
Another important thing a good buyer’s agent does is they
preview properties before they show them. I remember one home when I was a new
agent that I showed my clients without previewing it and it was awful. It stunk
and was dirty and I was so embarrassed. It taught me a good lessen and I never
showed a property again without previewing them. If your Realtor is showing you
properties that do not fit your criteria, you need a new Realtor.
The buyer also has a responsibility and if you have a good
Realtor and they are ready willing and able to get you a property, you as a
buyer have to give them the time they need to show you properties. If they call
you on a Thursday and say they found a good property for you to look at, you
need to be available to go and see it as soon as possible. If you can only be a
weekend warrior when it comes to seeing properties, don’t blame your Realtor if
you lose good properties. The buyer and the Realtor need to be on the same page
before the process begins or it will be a failed relationship.
It's hard work
I will tell you that I have the utmost respect for buyer’s
agents, because I understand how hard a job it is. In my Property Management
business, I get many buyers agents who show my rental properties, knowing the payday
at the end is small. They do it because they hope the Tenant will turn into a
buyer when the lease is up. These agents are going the extra mile for future
business and I always remind the Tenant how hard their Agent is working for them
for very little money. I will tell you, I appreciate those Realtors showing my
properties so much that even though it cost me a commission, I give their
clients a very good look.
Let’s recap:
A good Buyers Agent gets your loan approved before you look
at homes
A good Buyers Agent is a full time Realtor
A good Buyers Agent previews properties before they show
them to you
A good Buyers Agent does not waste your time or theirs
A good Buyers Agent understands the market and explains it
to you
A good Buyers Agent is worth every penny of their commission
I know that many part time Agents do their best and will
hate what I have to say, but just as I want to be fair to people who ask me to
represent them as a Buyer’s Agent and even though I am a full time Broker, I
know that I don’t have time to give proper representation to buyers, so I
decline. Part time Agents need to give full disclosure to people they represent
and let them know they are not in Real Estate full time.
When it is time for you to buy a home, get an Agent who
knows what they are doing and who is going to represent you with all the
knowledge and ability they have and are able to put the time into the process.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County
Ca.