Searching for the right property for real estate buyers is one of the most exciting aspects of being a realtor working with real estate buyers. Yet, finding the best home among a sea of possibilities isn’t always easy. Fortunately, with the knowledge and realtor skills you have already gained, you can provide them with expert assistance.
You probably learned a lot about finding properties during your real estate agent training. However, to provide the best possible service to buyers, you need to go beyond the basics you covered when you got your real estate license. One way to do this is to take online real estate courses, such as the Roadmap to Success: Buyers course. Here are some of the activities, insights, and tools you will need to aid customers in this endeavor.
Master the MLS
Real estate agents use the Multiple Listing Service (MLS) for many purposes when trying to locate a home that meets the buyers’ wants and needs. However, you can never get the full benefit of the MLS unless you study and master it. How can mastering the MLS benefit you and your buyers? Here are a few things you can do when working with real estate buyers.
First, you can find more real estate for sale within the listings of the MLS. The system also provides you with an efficient way to create a market analysis. Of course, you use the MLS to list properties for sellers. You can also find information about tax records. Finally, you can use the MLS to automatically send out emails as the housing inventory changes.
Conduct a Broader Search
Sometimes, you may not find what the buyer wants through the MLS. In that case, you can broaden your search. If that happens, you can use several techniques to discover homes in a more hands-on way. For example, you could simply drive around the desired neighborhood searching for real estate signs. You could reach out to others in your profession to see if they have any suggestions. You could also look on other real estate sites, such as Zillow or Trulia.
If you still haven’t found an acceptable home for the buyer, consider distressed properties or for sale by owner homes. It may be difficult to find FSBO homes. After all, FSBO sellers rarely advertise or market their properties. The better side is that FSBO sellers, if you can locate them, often offer lower prices. Your job as their realtor is to assist them in finding a home that’s right for them. You can also use for sale by owner sites, such as RedX, which has information on FSBOs, pre-foreclosure homes, and expired listings.
Use the Best Realtor Tools
Being a realtor is like being in an exclusive club. You have access to tools that the buyer doesn’t have. For example, you can use the REALTOR® Property Resource, a tool that lets you check properties and receive reports. There, you can gain information on the details of the home, its features, financing, and the neighborhood.
Another Realtor tool is the REALTORS® Valuation Model. The RVM tool puts together a valuation report using data from the MLS. These tools and others will help you find a wider selection of homes, as well as vital facts and details about a wider variety of homes.
Check Into Public Records
It’s critical to look at the public property records when the buyer begins narrowing down their possibilities. It’s important to check the records before the buyer begins the purchase process. This will save work for you and help the buyer avoid disappointment. It’s Although the title company will take care of the final title report, it pays to know about the property’s public records as early as possible.
If you don’t check the public property records soon enough when working with buyers, it may affect the purchase in any of the following ways.
- There might be an unexpected lien on the property.
- The home may have construction code violations.
- The mortgage lender may not approve the home.
- Any problems with the property might affect negotiations for the purchase.
- If you wait until the title company completes its task, it may be too late to get the best outcome.
Whenever working with real estate buyers, look in online portals for properties in local counties or cities. There, you can often find public records about properties in that area. Then, you can relay any pertinent information to the buyer and their attorney.
Conducting a thorough property search does help you sell homes. Even more important, though, is the relationship you build with the buyer. Through this friendly relationship, you deliver a high level of service. And when you do it well, you impress the buyers and ultimately get referrals from them. Master the search, and your real estate business will flourish.