We’ve put in the legwork so you don’t have to. Our team of seasoned agents have compiled a list of the top frequently asked questions and responded to them for your reading pleasure.
Big Fish Real Estate FAQ
The number one reason to hire an agent is experience. The process of buying and selling real estate is complicated and includes deadlines that, if missed, can derail a deal. With an agent from Big Fish Real Estate you are assured to have an educated and experienced person working with the other party, for you. Reason number two, emotion. Selling your home and buying something new can be an emotional experience. Having an agent with an objective opinion who has also seen many homes in your area, will help you to see past the emotion and focus on the specifics of the deal. Finally, when you hire an agent you gain access to their entire encyclopedia of available homes in your area. Once you have a price range and style in mind, an agent can narrow down your search using MLS and give you an accurate look at what homes are available to you without having to drive every street in the city.
Now! While it is fun to daydream about which house you love on a real estate search engine, your bank will be the final determining factor in what you can afford. The bank will compare your income and assets with your liabilities and determine what the maximum amount of your loan will be. They will provide a letter stating their intent to lend said amount which sellers will look for to judge your sincerity.
Not to worry, there are many reasons an offer can be rejected and you have options. The most important thing to do in this case is find out the reason for the rejection, then formulate a plan with your agent. Here are some of your options.
- Increase your offer: Finding the sweet spot can be a dance. The seller wants as much as they can get and you’d like the best deal. If you’re willing to increase your offer the second time may be the charm.
- Wait it out: This is going to depend on the market. In a sellers market, if you want the home, this is not the way to go. However, when there is a plethora of options on the market, you could try and call the bluff. Wait a week or two and check in on the offer. Your sellers circumstances may have changed and they reconsider.
- Consider another option: A real estate agent has access to every home available on the MLS. Often times, given your parameters, your agent can find another home in the area that meets your needs.
In short, the seller typically pays for the realtor fees out of their earnings from the sale. If you break it down, in the end, both agents involved are working to sell a home. One just works directly for the person also buying a home.
Your real estate agent is bound by the Fair Housing Act to not discriminate against any home or area in which they sell. It is ultimately your responsibility to do the research about the city you are moving to, to determine the neighborhood and schools that will best fit you and your family.