FAQ's  Frequently Asked Questions.


What is the difference between a Traditional Agent and an Exclusive Buyer Agent?


A traditional real estate agent spends most of his/her time working for the seller, marketing homes, negotiating for the seller etc.. They work for the seller and are bound by law to try to get the highest price for a home.


An Exclusive Buyer Agent spends almost all of his time researching neighborhoods and homes for buyers, previewing and touring homes, negotiating on a buyer's behalf and making sure the buyer gets a great home at the lowest possible price and terms.  Buyer agents work for the buyer and owe the buyer their loyalty in every real estate transaction.


How is a Buyer Agent paid?


Traditionally, at closing, the buyer agent splits the commission that the seller pays to the listing agent for selling the house.  It does not cost you more to use a buyer agent.


What are the steps involved with buying a home?

 

At our first meeting:

  • We determine your timeline.  When do you need to be in a home?

  • What kind of home are you looking for and where?

  • What are the things you absolutely want in your home?

  • What are the things you’d like to have but may be able to do without


  • We review all anticipated costs so that there are no surprises at closing.

  •  

    We get you pre-approved for your loan based on your timeline.

     

    You receive your preliminary list of homes and maps.

  • If your timeline allows us more than two months, You  can drive by the homes and neighborhoods to select the homes you want to tour.

  • If your timeline is less than two months, we will want make appointments to see the houses that look good to you based on the home description sheets and photos.

  • If your timeline is very short or if you are an out-of-towner, we make lots of appointments and hit the pavement immediately.  Usually in this case, we will have previewed the homes on your list before you arrive in Dallas.

  • If your timeline is 3 to 6 months or more, I really only want you to drive through select neighborhoods to determine the ones you like best.  It’s too early to go see homes.  The same homes won’t be available when you are ready to buy.

     

    Your list of homes is automatically updated every morning by email.

     

    Once we have found a great home, we do an in-depth market analysis to determine the range of value for the home and neighborhood.

     

    We decide on a negotiating strategy based on the market analysis and your personal situation.

    We make our initial offer or offers and negotiate until we put the home under contract.

     

    At this point, I take over all of the details.

    But, here’s what’s going on in the background…

     until we close and celebrate.

     

    During the Option Period, we inspect the house, research its insurance history, and get a copy of the property’s survey.

     

    We renegotiate the price or terms of the contract if the house has problems or needs repairs

    .

    Your loan is finalized.  At this time, the Title company researches title to the land and takes over most paperwork.

     

    Once we know the house is in good condition, the title is clear and the loan  is approved, we relax a bit.

     

    We order your new insurance.

     

    We notify all utility companies, cable and newspapers when you will be moving in.

     

    On the day of closing ( Celebration ) we walk through the house just to make sure that everything is still in the same condition as on the date of our inspections.

     

    At closing, you sign all of the purchase and loan papers, the bank wires your money to the title company and the title company pays the seller.

     

     

    At this time, once the seller is paid, I can give you the keys to your new home.

     

     

    The hard part is moving in……..

                  And we can help you with that if you need.

     

    We have long lists of large-scale movers or small-scale movers.  We can provide you with extra muscles if you need them.

     

    We have a complete list of contractors of all sorts:   handymen, painters, plumbers, cabinet makers, furniture suppliers, interior designers, architects, builders, landscape architects and contractors, pool people and all maintenance people in various areas of town.  All of our service providers come recommended by clients and family.    They are simply the best in town.

     

    We want you to be completely happy with your entire homebuying process, as well as your home.


Steve Ritchey
Steve Ritchey
Exclusive Buyer Broker
4925 Greenville Ave. Dallas TX 75206