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Over the years, I have taught many first-time buyer classes and generally the participants are confused as to what the first step should be in the process of arriving at the goal of homeownership. The short answer is, arm yourself with a Realtor®. While all Realtors are licensed real estate agents, not all licensed real estate agents (licensees) are Realtors®; only those who are members of the National Association of Realtors® can claim this designation. Realtor and Agent, are not interchangeable terms. Realtors® subscribe to a strict code of ethics and strive to maintain a superior level of knowledge and education to benefit their clients. Your Realtor® will be your personal guide and trusted confidante, so discuss your level of expectations early on to avoid issues later. Sellers may interview several agents before selecting a Realtor® to represent them in the sale of their home. Buyers, too, may consider interviewing more than one Realtor® to represent them in the home search process. When interviewing a Realtor® as your Buyer Agent, discuss your expectations and personal needs. Does your work day provide flexibility for home-viewing? If not, establish whether the Realtor® has the time to accommodate your particular schedule and be in a position to provide the level of service you are expecting. Your Realtor® can recommend trusted lenders (banks, credit unions or mortgage companies) who will assist you in determining your purchasing power based upon your financial posture. Prior to the commencement of a home search, a buyer needs to be prepared with a current preapproval letter from a lender. Savvy sellers are asking for verification that buyers wishing to view their home, have been preapproved and can demonstrate their ability to secure financing for the home offered for sale. Most Realtors® will be happy to answer any questions you have pertaining to the home buying process. If you are unsure of whether or not a particular agent is a Realtor®, you can visit www.marealtor.com and click on the “Find a Realtor®” search feature or call the Massachusetts Association of Realtors in Waltham at 800-725-6272. Jean Kearney McGillick is a Realtor® and can be reached at [email protected]
