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As 2010 begins, it seems that buyers are now catching on to what many Realtors have been saying for the last 90 days - now is a great time to buy! With Texas mortgage rates bouncing around in the 5% range for qualified buyers in the last week or two, our firm is seeing buyer clients appear out of nowhere after months of hibernation.

For buyers, now is a great time to consider interviewing to find a great buyer’s agent to assist in your spring and summer search. Some things to consider when interviewing a buyer’s agent:

• Do they listen to your needs and concerns?
• Do they have addition education beyond a Real Estate license? (Examples: a college degree, Master’s degree, or Real Estate designations like an ABR (for buyer specialists), GRI (a “graduate school” for Realtors), or a Green or EcoBroker designation (for eco-conscious real estate.)
• Have they explained the buyer and seller agency process in a way you’re comfortable with?
• Do they seem to know about the neighborhoods you’re most interested in?

One thing many first-time buyers don’t know is that one should really hire a buyer’s agent and work with a mortgage lender for a pre-approval and budget range before they start to browse for homes! Doing so doesn’t cost you a dime, and makes the buying process easier by having a correct budget upfront, building trust between the buyer and the Realtor before viewing properties, and arming the buyer with data to make the right offer on the right home in the right neighborhood.

One last thing: on the buyer side, clients don’t pay a commission! The listing agreement between the seller and the seller’s Realtor specifies a commission to pay for a buyer’s agent, so as a buyer, you take advantage of these services without having to pay fees! Having a buyer’s agent working for you will save you time, help you obtain a great price, and make the contract to closing process go smoothly. Don’t just call a sign! Interview someone referred to you by a friend, or look for Realtors online with great testimonials on their pages. It will improve your experience tremendously. For more on hiring a Realtor, see this great article at Realtor.org.

To get started on your home search, email tom@realtyaustin.com or call 512.636.0672 to arrange a meeting or call.

Tom Thornton is a REALTOR and Broker Associate specializing in Central and Southwest Austin residential properties. His neighborhoods of focus include Westlake, Downtown, Barton Hills, and Travis Heights. He is a member of the Austin Board of Realtors, Texas Association of Realtors, and National Association of Realtors. Tom has been awarded the Accredited Buyer Representative (ABR®) designation (the benchmark of excellence in buyer representation) by the Real Estate Buyer’s Agent Council (REBAC) and is a Graduate of the REALTOR® Institute (GRI). He is also certified as an EcoBroker by EcoBroker International. EcoBroker Certified® professionals help clients market properties with green features, save money, and live comfortably, through energy efficiency and environmentally-sensitive choices. He is a graduate of both London Business School (MBA) and Baylor University (BBA).