Afraid of a buyer consultation?

As I hold my listings open in and around Silicon Valley, I am amazed at the number of people interested in buying a home who are on their own and not working with a buyer’s agent. If that describes you, do you feel that you are a little afraid of a buyer consultation with a Realtor? (Or maybe you don’t get the advantage of having a buyer’s agent or know what they do?)  Not sure what to expect, or concerned that you may be coerced or manipulated into hiring someone you don’t want to work with?   Let’s talk about how that buyer’s agent appointment usually or often works, and how you can meet with an agent and not feel like you have no control.

What is a home buyer consultation?

Talking over a computer -buyer consultationFirst, let’s talk about what a home buyer consultation is.  In a nutshell, the appointment has just a few purposes: (1) to help the home buyer to learn about the process, what’s involved, and to answer questions about what happens and what kind of choices there are. (2) It is a job interview for the real estate professional – is this someone you would want to hire? Even though the seller usually pays the commission, the buyer’s representative is someone you hire or not. (3) It is also a chance for the Realtor to see if you are someone that he or she can or would like to work with, too.  The interview is a two way process.

How long does an initial buyer appointment take? Where does it happen?

In my experience, most of these initial appointments can run anywhere from 30 minutes to an hour or more.  The length of it is often driven by the consumer’s questions.  If it is clearly not a fit, either side can say it’s time to wrap things up and call it a day.  If the appointment goes well, it may last longer. (more…)