A realtor or a lender first? Buying and selling houses or other real estate can be a profitable investment.
And, it’s also a great way to make money.
However, these processes are difficult if you don’t know what you’re doing.
For example, selecting a real estate agent can be difficult.
Since, some are meant for commission sales and others are looking for long-term business.
You also need to understand the banking process so that you can obtain the best loan for your needs.
In this essay, we’ll compare these two processes and outline some guidelines for choosing who to work with first.
Most banks and real estate companies offer standard home buying and selling processes.
Both entities want to make sure that their customers are satisfied with their experience before making any money off of them.
Many banks have fair lending policies where they’ll match the price of the house you want to buy with their funds.
This protects them from losing potential business if they overpay for a property.
Meanwhile, real estate agents tend to discount the price of homes they show to their customers compared to what they paid for it.
That way they can recover some of their investment in the property after selling it.
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Since both parties want to maximize their profits, working with a bank first is usually best.
Agents get access to more homes since most banks operate nationwide rather than local markets.
Plus, most banks have longer operating hours than real estate companies do.
This means that you’ll always be able to reach a representative when you need assistance- even on weekends or after normal business hours.
Additionally, banks usually have an excellent customer service team available 24 hours a day via email or phone call.
This allows you to quickly resolve any issues with your mortgage payments without having to wait for business hours or an agent call back.
Working with a real estate agent first is usually ideal. Since they have access to more homes and better customer service. However, if you need help quickly or your local market has no agents at all, working with a bank is also acceptable. Either way, choosing who to work with first will greatly improve your home-buying or selling experience! It is your choice when it comes to go to a realtor or a lender first.