As a general concept, we all understand that there are general rules of etiquette for everyday life, and specific rules of etiquette for a myriad of specific situations; buying a home is one of those specific situations that have a specific set rules when it comes to etiquette. Having good manners in everyday life has a direct impact on the quality of your interactions and failing to follow the rules when buying a house may result in the seller opting not to deal with you. This article will briefly address some of the specific rules for buyers, to help you avoid a residential faux pas.
Just Because You See a House You Like, Doesn’t Mean You Should Call the Listing Agent
Standard practice is to have your agent handle communications with the seller’s agent, your agent is your middleman. Many people think that because an online listing has the seller’s contact information, it’s an invitation to contact them directly; that information is for your agent’s benefit though. Of course, if you don’t have an agent, then it’s not a misstep to call the listing agent directly.
Don’t Ask Your Agent to Put in Leg Work Until There is a Binding Buyer-Broker Agreement in Place
Most intelligent people would not demand performance on a contract that hasn’t been created yet, and it’s equally absurd to require your agent to perform work until he has some legal document protecting his interests in your relationship. More importantly, entering into a binding agreement with your agent lets them know you are serious about purchasing, rather than window shopping; time is money, and nobody wants to waste their money.
Don’t Make an Offer Until You Can Guarantee Your Ability to Make Good on It
In other articles, we have discussed the nuances of mortgage pre-approval, but for purposes of this article, it is a letter indicating that the lender has agreed to lend you a specific dollar amount for the purchase of a home. Once again, nobody wants to waste their time or money on a deal that can never be.
Don’t Play Make Believe
We have all seen movies where some young, hip, pseudo con-man attends an open house, or talks to an agent, pretending they are prepared to purchase that home; usually for the purposes of impressing a very attractive person. Once again, time is money; if you waste time, people will not want to do business with you.
At the Chernov Team we understand that knowledge is power, even when it relates to behaving properly in real estate transactions. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.