One of the hardest parts of buying a home in Metro-Detroit is over once you speak with a Michigan mortgage lender and secure your mortgage.  It’s all downhill from there, you just need to find the right home for your family and your budget.

The next step starts with finding the right agent to work with.

But do you work with a real estate agent or a realtor?  What’s the difference?

There are more than two million licensed real estate agents in the United States, but less than half of those agents are actually licensed Realtors.  That title and certification means the agent is a member of the National Association of Realtors (NAR).  This is a trade organization that holds the members beneath it to much higher standards, and expands on the basic training most agents have.

Working with Realtors for Selling

It can be a little confusing for home buyers in Metro Detroit.  A real estate agent is licensed to help you buy or sell commercial and residential property.  Not all Realtors are real estate agents though.  Some are home appraisers, property managers, brokers, etc.

Realtors have the ability to do a bit more for home sellers.  This includes:

Evaluating the property:  They can provide you with an estimation of the value of the property based on the surrounding community and current housing market.  This may not be the same as the listing price.  Realtors also frequently suggest pre-sale inspections by the seller to avoid any potential surprises by the inspection that is typically required by Michigan mortgage lenders.

Realtors also know some of the best ways to advertise and market homes, which shortens the amount of time a seller is waiting for a home to turn over.  Realtors have access to an extensive network of buyer’s agents that helps connect the seller to highly-motivated buyers.

Working with Realtors for Buying

If you’re ready to buy and you’ve already spoken to a Michigan mortgage lender, you can benefit from working a Realtor as well.  While all agents have access to the MLS listings, experienced Realtors know how to search the database to find the best homes that match the interests and the price range of home buyers.    They also have the ability to read the subtle language between the lines when looking over listing descriptions. “charming” is code for a fixer-upper, “newer roof” is likely 10 years old, etc.

Working with a Realtor also provides you with a buyer’s agent who can give you a crucial and objective option of the property.  They can pull you back before you fall in love with a home that might not fit your family or your budget.  Once you do find a home that you love (that is the true home you’re looking for) the Realtor/buyer’s agent will handle all the negotiations on price to ensure that you get the best value on the deal.

With a Realtor, buyers are protected and assisted through the entire home buying process.  If you’re ready to work with a Realtor to get your first home, then contact us at Ross Mortgage.  We can help you find out just how much home you can afford and get you pre-approved for the perfect mortgage.