It might be fun driving around your favorite neighbourhoods jotting down the names and numbers of Realtors posed on ‘For Sale’ signs outside of your dream homes, but failing to commit to one Realtor is seriously doing you more harm than good.

Less is More

Having five people working to find you the right property, as opposed to one, might sound like a good idea, but if you look a little closer it’s easy to see where the theory falls short. Imagine having five people perform the same job at your workplace, but every day only one person is picked to be compensated for their efforts. Over time some people would quietly slip away, while others would stick around doing as little as possible to stay on the radar. You don’t need five Realtors “kind of” working for you, you need one Realtor who’s going to work in the trenches with your best interests in mind every single day.

Behind the Scenes

It might be fun scanning properties online and contacting whichever Realtor is featured in the listing, but if that’s your preferred method you’re truly missing out on a whole slew of options. There’s a lot that goes on behind the scenes in the Real Estate Industry, tons of properties don’t even hit the internet before they’re sold! If you have a Realtor who knows your needs and what you’re looking for, they’ll be able to give you a true understanding of what’s on the market and keep you steps ahead of the pack.

Enjoy the Experience

We’re all unique and we all have our own way of doing things, even on a daily basis there are people who you gravitate to and those you don’t. Well, buying a home isn’t the most relaxing thing in the world, so why not ease the stress by working with someone you enjoy and truly trust? You need to work with a Realtor who has either earned your business or the one you like the best, not just faces on a sign.

How Do You Find the Right Realtor?

If you’re ready to commit to a Realtor you’re going to want to make sure you pick the right one! Conducting interviews is a good way to test out your comfort level with each Realtor, as well as their credentials. During this life experience you’ll want someone who is accredited, who you trust, is patient with your questions and informed about their area of expertise as well as your specific needs. By doing your research and sticking to the Realtor who’s right for you, the entire experience will become more efficient and even enjoyable!

Once you’ve made the decision to buy a house it’s easy to get swept away into the excitement of it all and simply overlook a simple step that makes the process a whole lot easier, Mortgage Pre-Approval.

They may not be the most appealing words you’ve ever heard, you might even be a little afraid, some Realtors won’t even work with you until you have one, but let me tell you, there’s a lot to be gained from getting Pre-Approved before starting your home search.

Don’t Set Yourself Up to be Let Down

Usually the first thing anyone wants to do when they’ve decided to buy a house is jump online and start searching properties, virtually walking neighbourhoods and booking appointments to start seeing what’s out there. You deserve to be excited, this is one of the biggest moments of your life, but you don’t want to set yourself up for disappointment either. By taking the time to get your Mortgage Pre-Approved you’ll already know your budget and will avoid wasting time on properties that are over or under your price range.

Lock It In

The last thing you want to do is find your dream home, only to notice the mortgage rates have changed since the last time you checked with your lender. If you get Pre-Approved you can house hunt at ease knowing that, with the majority of banks, your mortgage rate will be locked in against increases for approximately 120 days.

Competition Can Be Steep

You’ve all heard about the bidding wars happening for properties now-a-days, the competition can be fierce! One way to show your Realtor, and most importantly, Sellers that you’re serious about making a purchase is by having your Mortgage Pre-Approved. It’s an easy way to stand out from the competition and show that you’re ready to get the deal closed due to your solid financial backing.

So What is Mortgage Pre Approval and How Do You Get It?

There’s a difference between Pre-Approval and Pre-Qualification. With a Pre-Qualification, your lender is relying on the information provided by you to estimate how much you would be qualified to borrow. On the other hand, with a Pre-Approval, the lender verifies your information and documentation to determine exactly how much they would be willing to lend.
Although getting your Mortgage Pre-Approved may feel like an extra step in the process, it’s well worth it. Imagine the stress of finding your dream home and then waiting to see how much you’ll be approved for. If you’re interested in buying a home take the first step and contact your bank to get your Mortgage Pre Approved, you can even do it online!