Buying with data-driven information saves you money!
Houston has one of the largest populations of agents in the country with over 26,000 licensed agents; that’s a lot of expertise in our great city! But do you need a Buyer’s Agent?
Straight talk: the past 5-10 years have given us a lot more information at our fingertips that used to be knowledge only an agent would have. With aggregate-data sites like Zillow and Trulia, we are more informed than ever before! Even so, would it surprise you to know that in 2020, 88% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69% in 2001?
So, how do you know if you need an agent? Maybe we can help you find out by providing a few questions to ask yourself:
- Do I know the home buying process, from qualifying for a loan to updating my information with the appraisal district after closing?
- If I don’t, do I have time to learn it all before starting my home purchase?
- Am I a good project manager, and do I meet time sensitive deadlines consistently?
- Am I a good negotiator?
- Do I respond well to “bumps in the road” and unforeseen challenges/setbacks?
- Do I know enough about how homes are built to understand what is a concern on an inspection report, what is “normal” homeowner stuff, and what is a safety critical issue?
- How much free time do I have to devote to the process? Will my personal or work life suffer if I’m managing the buying process myself?
- Am I a good communicator, and do I have a team of vendors, contractors, and service providers to help keep the process running smoothly?
- Do I have access to recent sales data (not just listing date) in order to make an educated, data-driven decision on what to pay for a house I’m interested in?
- Do I know how much more/less to take off/add to an offer price based on the differences between one comparable home and another?
These are just a few questions to ask yourself before you decide to hire (or not hire) a real estate professional to help you with your home purchase. We hope you hire us, of course!
Our territory specialist agents provide excellent customer service with a proven process. Here’s what you can expect from your Buyer Agent at Buffalo Bayou Realty:
Meet with you 1-on-1 to determine:
- Your needs, wants, and “nice to have” criteria
- Where in Houston or the surrounding areas you want to purchase a home
- Which homes you want to see on your first property tour (up to 5 homes)
If you don’t find a home on your first property tour, your agent will work with you to refresh your selection criteria and show you properties on your second property tour (up to 3 additional homes).
Once you’ve found a home you want to buy, your agent will:
- Prepare a Buyer’s CMA (comparative market analysis) to help you determine a fair offer price for the home you’ve chosen
- Prepare the paperwork and submit your offer, as well as work to negotiate the price you feel comfortable paying for the home you’ve chosen
Once you’re under contract, your agent will help you project manage the buying process from offer to closing, including but not limited to:
- Giving advice & encouragement
- Coordinating the scheduling of your inspection and appraisal
- Negotiating as needed after inspections
- Keeping in contact with your lender as well as the title company to be sure everything is on track for closing
Here is the 9-Step Process to Home Ownership with Buffalo Bayou Realty
Know your “Buying Power”!
Before you start looking for a home, find out how much you can borrow and how much you need for a down payment. Online calculators are a great start, but only a lender will be able to give you real numbers. Need a lender? Our Buyer Resources page has a few, or you can call your bank or financial advisor. The important thing is to talk to someone first.
Start looking for your new home!
Contact us with your wish list of what you want in a home and we’ll set up a customized search for you. When homes that meet your criteria come on the market, you’ll be the first to know with automatic email notifications. When you know where you want to buy and how much you want to spend…
Hire Buffalo Bayou Realty
Send us your pre-approval letter, and sign our Buyer Representation Agreement. Once we have those, we can move on to the next step in your home buying journey!
Tour properties and go to Open Houses
Set up a home tour with your agent at Buffalo Bayou Realty to find your new house! Open Houses are a great source for you to find a new home, too.
Make an offer!
Once you’ve chosen the home you want to buy, Buffalo Bayou Realty will prepare your offer and submit it to the Listing Agent. Your agent at Buffalo Bayou Realty will negotiate on your behalf until you and the Seller come to an agreement.
You’re under contract!
Now is the time to deposit Earnest Money, your Option Fee, and get your inspections.
Inspections & resolutions
Sometimes an inspection might reveal something about the house that needs to be addressed by the Seller before closing. Your inspector will point anything of concern out during your inspection. We’ll present any issues to the Seller and work to resolve them before moving forward with the sale.
Lending, title work, and final preparations
From contract to your closing date, the title company will be working to get all of your documents in order. A survey may need to be ordered, there will be an appraisal if you’re getting financing from a lender, and the title company will be making sure the property is able to be legally transferred from the Seller to you. There’s a lot going on, and Buffalo Bayou Realty will keep you informed every step of the way.
Closing & FUNding!
All the paperwork is ready to sign, the money is in the bank, and all that’s needed is your signature. Once closing is complete, you’ll get the keys to your new home and you can start moving in right away! Congratulations, Homeowner! You rock!