She saw the perfect listing on Zillow, clicked the “schedule appointment” button, and embarked on a path that could have been quite different. Instead of a buyer’s agent, she connected with the property listing agent whose primary goal was to sell that particular house. Her second, and more consequential, misstep was to sign a yearlong contract with that listing agent. She was left with little recourse when the agent’s efforts were focused on marketing the homes in his inventory rather than finding her the right house.

For most home buyers, the two most important partners in their purchase are the real estate agent and the lender. These two professionals can make all the difference between a smooth transaction and a path strewn with landmines.

Finding the right pros to work with takes a bit of legwork. The best strategies go beyond a quick Google search or calling a toll-free number from a syndicated radio advertisement. A simple screening process will help you assemble a team to find, close, finance, and enjoy the right house for years to come.

Beyond Google

It’s easy, quick, and tempting to hit the button on Zillow. Or to call the name listed at the top of the page on your Google search for area real estate agents. Michael Guthrie, Broker/CEO with Howard Hanna/Roy Wheeler Realty Company, knows 90% of people start their home buying search online. But there’s a right and wrong way to go about it.

“Agents pay for their presence on Zillow and Realtor.com. They buy ads on Google to show up at the top of the list,” says Guthrie. “That doesn’t mean they might not be good agents, but, when you see those names, do a little research. Go to their websites and look for reviews from previous clients. If there aren’t any, that’s a yellow flag.

“Before you rely on those internet searches, use your sphere of influence. Reach out to your friends and ask who they would call. If you’re moving to a new area for a job, contact your employer. Ask someone in human resources who they would recommend.”

Screening Your REALTOR®

Buying a home can be stressful enough without worrying about problems in getting along with a real estate agent. Fortunately, the buyer is in full control to choose just the right agent that will meet her needs.

Guthrie advises, “For starters, make sure you get an agent who specializes in representing buyers. If they are mostly a sellers’ rep, they may not have time to do the kind of searching that you want, especially if they have enough inventory to sell.”

Beyond that, consider the agent’s geographic range, area of expertise, style, and interests.

Generally, agents can sell anywhere in the state where they are licensed. “But,” says Paul McArtor, REALTOR® with Avenue Realty, LLC, “having a local agent that knows the local market can make a world of difference. He will know how much properties are selling for in a particular neighborhood. What a good price is. How to position your offer for the best chance to win in a competitive environment. For instance, I don’t do much business in Waynesboro. I can, but I don’t. So, most likely, I would refer any inquiries to REALTORS® I know that live and work in that area. That way a buyer will get the best service possible.”

Another factor to consider is whether your home search would benefit from a specific area of expertise. There are horse farms, golf communities, investment properties, and many other specific types of real estate. Having an agent intimately familiar with that type of property makes the buying process more fruitful and efficient. A truly good agent will anticipate problems, know what questions to ask, and guide you through the decision-making process. Some REALTORS® come to the table with decades of experience specializing in a certain type of property. Put that expertise to work for you.

A lucky buyer will see their dream house right away, make the winning offer, and be loading a moving van a month later. Or he may be working with his REALTOR® for many months or even a year or more before completing a purchase. That’s why having compatible styles and gaining rapport is so important in today’s environment.

How you and your agent interact can be a source of frustration or satisfaction. Are they out looking for properties for you or only reacting to those you find? Is text, email, or phone call your preferred means of communication? Are you checking in daily or just when a property comes up? Do you want someone that will make suggestions and guide you, or sit back and let you be the expert? All those factors can have you enjoy working with your agent or wish you had chosen someone else. So, it’s best to layout those expectations during one of the first conversations you have.

McArtor says, “Get a REALTOR® that matches your personality, availability, how you communicate, and the pace you want to move. Everyone is on a different timetable. Most buyers want to have it over and done with right away. Others are willing to be patient and wait for just the right property. I worked with one client for six years before they got just what they wanted.”

Many buyers don’t pay much attention to whether there is common ground between themselves and a potential agent. But, given the amount of time that a buyer may be working with an agent and the fact that the purchase is so impactful, there is good reason to choose a REALTOR® with whom there are solid connections.

Guthrie recommends that you do some sleuthing to get the right match. “Go on the company website and check their profile. Find someone with common interests and with whom you are compatible. That can be as simple as having graduated from the same school or having the same hobby.” Even business relationships are more gratifying if you can connect with each other throughout the working process.

Signing the Contract

Once you have found a REALTOR® with the appropriate expertise and a working style compatible with your goals, you may be ready to sign the representation contract. McArtor says, “This Exclusive Right to Represent is required once an agent starts giving real estate advice. It outlines the responsibilities of the agent and buyer and how compensation works, which in most cases is covered by the seller, rather than the buyer.”

Importantly, this contract can be for whatever period you feel comfortable engaging with a particular agent. If there hasn’t been time for sufficient research and screening you may not be ready to lock into a long-term commitment. You can request a contract for whatever period seems appropriate. McArtor has done contracts as short as a day or weekend in specific situations, rather than the standard yearlong agreement.

Locking in a Lender

The other critical member of your homebuying team is the lender.

McArtor suggests that all buyers have a number in mind before they talk to a lender. “Look at your household budget and come up with a comfortable mortgage payment. Then a lender can reverse engineer a loan. Sometimes that pre-approval is more than you feel comfortable paying on a monthly mortgage. Don’t fall into that trap.”

It can also be tempting to buy into the hype of the quick and easy marketing ploys of some national lenders. Guthrie recommends against this. He says, “Go with a local lender, someone whose job it is to do a good job. If you don’t know who to use, ask your REALTOR® for a recommendation.”

Julia Roberts, Mortgage Loan Originator with Fulton Mortgage Company, explains, “You don’t want to just be pushed through an application process driven by a software program. Every loan and each buyer is so different. Chances are that you don’t fit precisely into their ideal borrower profile.

“There are so many loan options, payback periods, and strategies to buy down the interest rate. Only someone who takes the time to learn how you are going to use this house can help you find the best combination of terms. If this is going to be your forever house, the loan can be structured very differently than if you know you are going to move to another house in five years. It might be worth buying points to lower the interest rate by half a point over the life of the loan if you’re staying long-term.

“Today’s financing environment is extremely competitive with every lender advertising great rates. Many lenders advertise no closing costs and then have those costs disguised as origination or other fees. Unless you have someone you trust to walk through the terms and contract line by line, it’s very easy to be fooled into thinking you have the best deal, especially when some lenders don’t want you to fully understand every detail.”

Another advantage to using a local lender emerges during the appraisal. Local lenders use local appraisers. Even though all appraisals are based on actual closed transactions during the last six months, an appraiser who knows the local market can adjust upward if appropriate.

Guthrie says, “Appraisers can do market trend adjustments if they know the local market. That’s not likely to happen with a national company that doesn’t have the same intimate familiarity with how properties are trending and any local factors that might be influencing pricing.”

Customized Service

For what’s likely to be one of the biggest transactions of your life, it’s worth paying attention to who is guiding you. McArtor advises, “Not every good agent is going to be a good match. Take the time to get a REALTOR® and lender that you feel comfortable with and can ask questions, not just someone who wants to push you through the system.”

And if things aren’t going your way, stop and reevaluate.

If you don’t qualify for as much of a loan as you hoped, the team you put together should be in the best position to help you. “If you are denied the best rate or denied the loan altogether, a local lender can help you regroup,” says Roberts. “Our response is not going to be to just deny the loan. A local lender will ask, how can we get you there in six months and then work to help you achieve your goals.”

If the relationship with your REALTOR® is not smooth and open, speak up. “From the agent’s perspective, the worst thing is to find out after the transaction that a client was unhappy,” says McArtor. Things can usually be resolved easily if a buyer speaks her mind. Then everyone ends up being satisfied, no matter how long it takes to find the right home.”

This article was published in the Charlottesville Association of REALTORS® Real Estate Weekly on 8/4/2021.