SHREVEPORT HOME CONNECTION

I can find all properties for sale on my own.

This is the third in a series of posts discussing 10 Myths first-time home buyers have about the buying process.  The article is in the October, 2008 issue of REBAC’s  publication, Today’s Buyer’s Rep.

In response to that statement, I’d really like to say, “No way.  You’re just kidding yourself if you think you can find all properties on your own.”  Then I remind myself that NAR research shows that somewhere between 80% and 90% of buyers begin their home search online and we agents are thrilled, because it makes our job easier.

Myth or No Myth?

So, I would call this a half-myth if there is such a thing.  Buyers can find a lot of properties online, but unless they’re looking at a site that is updated in real time like the MLS, they are going to be running across many properties that are either under contract or already sold.  Thus, they’ll be wasting some valuable time.  And they won’t know that until they speak to an agent. :-)

Even if they find a home that meets all their criteria and is still on the market, what’s the next step?  Right!  Call an agent to find out more about the home, see if there are others like it on the market, learn more about the neighborhood, or ask to go see it.

Who Knows?

So, who are they gonna call?  If they haven’t already spoken to a local agent about their house search, they will most likely call the generic office number on the listing or the agent whose contact information is tied to the listing, better known as the Listing Agent, and you know how I feel about that!

Then There Are the FSBOs

Surely if a buyer is interested in homes for sale by owner, they don’t need an agent for THAT!  No, they don’t, but they’re going to run into the same outdated information problem detailed above.  Besides that, not all FSBOs put their listings online.  Of those who do, they generally just put it on one or two websites.  So finding FSBOs online really is hit or miss.  (I DO have a way to syndicate FBSO listings to all the major real estate websites, but we all know FSBO sellers don’t really want to work with agents, and it’s another post for another day).

Let’s Analyze This

In the final analysis, I would say #3 is probably not a myth.  However, there are three things wrong with the thinking that would prompt such a statement.  

1. It is just not the most efficient way to find a house.
2. If you end up working with the listing agent, you’re interests aren’t being protected as well as they could be.
3. Unless you find a FSBO to buy, you’re going to end up working with an agent anyway, so why not go ahead and find one you’re comfortable with and trust?

The world wide web is a wonderful place to gather information about the home buying process, but when it comes to searching for a home, find a buyer’s agent whose website gives you search results with data coming directly from the MLS.  That’s the key.  Then, the only houses you won’t know about are those hot deals that the agents learn about through the office network that sometimes won’t even make it to the MLS.

Happy Hunting!