First-time shopping for a home? You’re probably excited to start the house-hunting process and find the perfect place to call your own. In your mind, you want to see everything that’s on offer, but you might be surprised that your real estate agent won’t be ready to show you certain homes. This is just one of the many frustrations in the first-time home-buying process, but why would a realtor do this? Why are you not being shown all of the options available to you?
There are some good reasons for this. In this post, you’ll discover why some realtors won’t show you certain homes. In addition, there are some tips on what you should know before house hunting as a first-time home buyer and tips for choosing the right realtor for your needs. Read on.
Why Can’t I See Every House, I Asked?
When I was a first-time home buyer, I experienced this issue firsthand. My realtor wouldn’t show me homes in specific neighborhoods or homes priced higher than my budget. At first, I was frustrated, but after talking to my realtor, I realized there were valid reasons behind their decisions. Looking back, it now makes a lot of sense, and as a real estate agent, I try to make things easier for first-time home buyers by breaking down some of the seemingly unusual decisions made by realtors. After all, information is power!
Why Some Realtors Don’t Show Certain Homes To First-Time Buyers
To Manage Your Expectations
Some realtors won’t show you certain homes to help manage your expectations. As a first-time buyer, you may have unrealistic expectations about what you can afford or what your ideal home looks like. By showing you only homes that fit within your budget and needs, your realtor is helping you avoid disappointment and frustration.
To Narrow Down on the Right Fit
Another reason some realtors will only show you certain homes is that they may be the right fit for your needs. For example, if you’re looking for a family home with a large yard, your realtor may show you a condo outside the city center. They may only offer you homes that require a lot of work or located in neighborhoods with high crime rates.
To Conform to Personal Biases Or Preferences
Additionally, some realtors may have personal biases or preferences that influence the homes they show you. For example, if your realtor doesn’t like working with first-time buyers, they may offer you fewer homes than they would with a more experienced buyer.
To Save on Time
Your realtor might need more time and resources and wants to prioritize clients who are more serious or further along in the buying process. If you’re a first-time buyer just starting to explore the market, the realtor knows you need more time to decide. For this reason, they might dedicate more time to clients closer to making a purchase.
To Capitalize on a Limited Inventory
In a competitive housing market, the home inventory can be limited. The desirable properties may receive multiple offers quickly. A realtor may reserve their time for clients ready to act fast and submit offers rather than those just browsing.
To Respect Seller Restrictions
Some sellers impose restrictions on when and how their homes can be shown. These restrictions can affect the realtor’s ability to schedule showings, especially if they conflict with the buyer’s availability.
Understanding the Pre-Approval Process and Its Importance
Getting pre-approved for a mortgage is a crucial step in the home-buying process. Pre-approval for a mortgage involves submitting your financial information to a lender, who determines how much money you can borrow. This information will help you determine your budget and better understand what homes you can afford. Pre-approval also shows your realtor that you’re serious about buying a home and have the financial means.
A pre-approval letter from a lender will also give you more bargaining power when making an offer on a home. Sellers are more likely to accept an offer from a buyer who has already been pre-approved, as it shows that they have the financial means to follow through with the purchase.
How To Choose the Right Realtor for First-Time Buyers
Finding the right realtor makes all the difference when buying your first home. You want someone experienced, knowledgeable, and with your best interests at heart. Here are some tips for finding the right realtor for your needs:
- Do your research: Look for realtors with experience working with first-time buyers and a good track record.
- Ask for referrals: Talk to friends and family members who have bought homes recently and ask for their recommendations.
Interview multiple realtors: Don’t be afraid to interview multiple realtors before deciding. Ask them about their experience, approach to working with first-time buyers, and how they plan to help you find your dream home.
Questions to Ask a Realtor Before Working With Them
Before you start working with a realtor, you must ask them key questions to ensure they’re the right fit for you. Here are some questions to consider:
- How long have you been in the business?
- How many homes have you sold in the last year?
- Have you worked with first-time buyers before?
- What neighborhoods do you specialize in?
- How do you plan to communicate with me throughout the home-buying process?
- What is your approach to negotiating the price of a home?
- Is your real estate license in good standing?
- How will you stay in touch with me?
How to Find The Perfect Home for Your Needs
Once you’ve found a realtor you trust and have been pre-approved for a mortgage, it’s time to start looking for your dream home. Here are some tips for finding the perfect home for your needs:
- Figure out what your ‘perfect home’ looks like: Identify what you are looking for, list your needs and wants, and be as specific as possible.
- Figure out your budget: Make sure that you can be approved for a home loan before you go home shopping.
- Do your Research: Gather as much information as possible about the property market, neighborhood, community, and available properties from real estate websites, brokerages, and agents.
- Be open-minded: Don’t limit yourself to a specific neighborhood or style of home. You may be surprised by what you find if you’re willing to look outside of your comfort zone.
- Location, location, location: Make sure it is in an area you feel comfortable with.
- Bigger isn’t always better: How many rooms do you need to fit your family comfortably? Look for a home in that range.
- Take your time: Don’t rush the home-buying process. It’s better to take your time and find the right home than to rush into a purchase you may regret later. There are multiple stages, from pre-approval to hiring a realtor, home inspection, making an offer, and closing.
- Consider your future needs: Consider your plans and how they may impact your housing needs. For example, if you plan on starting a family in the next few years, you may want to look for a home with extra bedrooms or a larger yard.
Final Thoughts for First-Time Buyers
When you start a home search, the expectations are high and sometimes unrealistic. You expect your agent will show you every home on the listings, but this is only sometimes so. Without more insight, this could frustrate you, but actually, it works for you. Real estate agents want to save time and resources. By narrowing down on homes that fit your needs, it becomes easier to identify that dream home you always wanted. Understanding why some realtors won’t show you certain homes, what first-time buyers should know before house hunting, and tips for choosing the right realtor for your needs can make the process smoother and less stressful.
Remember to take your time, be open-minded, and work with a realtor who has your best interests at heart. By following these tips, you’ll be well on your way to finding the perfect home for your needs.
Don’t forget to check out the best first-time home-buying course in town, and get all the information and tools you need to make a successful purchase.