Looking at Homes

How to conduct an efficient and rewarding home search

Each buyer, and each agent, will have a different strategy to finding property. And depending on your needs and the characteristics of the market, the strategy may need to be adjusted at times. For example, in a “seller’s market”, properties may be snapped up within hours of becoming available.

Discuss your needs with your agent and ask about the current state of the market. You may need to change your plans; for example, if you find a great deal, and  you are competing with other potential buyers, you may need to have a deposit check in your pocket, and be ready to take a few hours off work if your agent tells you a home is available. You’ll also want to have financing already arranged, or you may risk rejection of even a full price offer.

Absolute Musts

To save you and your agent time, before you start looking at homes, you must prioritize your wants and needs, understand what you can afford and how much you can reach above your initial price range if you have to, arrange financing, and discuss the state of the market, and strategies to win, with your REALTOR®.

Also, please be fair to your agent. He or she will be spending time to help find you a home. If you’re not satisfied, let your agent know. Fire him or her if you can’t reconcile your expectations. Be loyal to your agent and work only with the agent. Keep up the communication! If you must look at property and your agent is not available, ask him what you should do. If you can’t reach him, take a minute to call his office and ask for advice.

Home Search Facts and Myths

Fact: Your REALTOR® can show you almost any property, even if it is listed with another agent, being sold “by owner”, or sold by a builder.

Fact: Many properties are available through REALTOR.com. Most homes for sale through the Regional MLS in Palm Beach County will also be shown there, and this is a great resource for finding out what is available. However, some properties may not be shown there if the listing agent chooses not to, it can take up to two days for properties to appear online, and many properties shown may be under contract. Your agent should have access to the MLS and the most current data.

Myth: All agents work for the seller. Actually, in Florida, such dual agency is not permitted. Your agent should provide you with a disclosure explaining how he represents you prior to showing properties. Buyers agents are usually paid a commission by the listing firm under a “cooperation” agreement through the MLS, but this payment should not affect the relationship between you and your agent.

When Looking At Homes

You’ll be looking at a stranger’s home that, unless vacant, may not reflect your decorating tastes. Also, you may find that after just one or two homes, they all start to blur together.

  • Try to separate the decor from the home - don’t let it distract you from what might otherwise be a great (or poor) property.
  • Stop and take notes on each property when you view them. List what you like and don’t like. Check off whether it meets any of your wants or dream items. If there may be issues, consider whether the issues can be corrected.
  • Avoid looking at more than four or five properties in a day.
  • If looking at homes in a new community under development, look at both the builder’s models and any available resales. Be clear when looking at the models what the base price includes, which upgrades you need, and what their cost is.
  • Try not to speak to the homeowners if they are present, this may show your hand in negotiations. By all means, be friendly and courteous, but remember that even a simple compliment or criticism can sometimes affect your chances.
  • Give your agent feedback on the homes - if you’ve ruled them out, what did not meet your needs, or what did you not like about the home or its location? This feedback is important in refining your search.
  • If you think you’ve found the right property, let your agent know immediately.