What You Need To Know About Realtors - Guest Expert Lance Kammes of Re/Max Suburban

Posted by Laine Smith on 10/17/14 9:10 AM

Topics: Home Buying

Lance Kammes is a Realtor with Re/Max Suburban and has been working with us here at Compass since we opened in 1999 to help clients find a great home. 

We asked Lance to be our guest expert this week and answer some key questions about real estate and Realtors that many people often have when applying for a loan.

Q:  What are the most important factors to look for when finding a home?

A: The most important factors when looking for a home are: working with a well-qualified real estate professional that has years of experience, knowing your location, getting fully approved for a mortgage and knowing the market in the selected area.

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Q:  On average, how long does it take someone to find the home they’re looking for?

A: The National average is 12 weeks; however, I find most buyers do not physically walk through homes for 12 weeks.  Today’s buyers study the market by reviewing homes on line; they know what they want and where they want to be.  During their research period, they choose 5-6 homes, then find the locations of the homes, then drive by them to make sure these homes fit all their criteria.

 

Q:  What’s the biggest mistake people make when finding a home?

A: The biggest mistake people make is not being FULLY prepared to make an offer when the find the home they want.  For example:

          * They will not be fully approved for a mortgage

          * They did not think they would find the home so fast

          * They “want to think it over” – and thus lose the home

          * In short, they do not fully understand the process of buying a home and how quickly a                  house they like or want can sell out from under them.

 

Q:  How do people know what price range to look at?

A: The only way to truly know a price range is by getting fully approved by a lender.  The buyer then knows what their budget is, and if they are comfortable with that amount.

 

Q:  How do you suggest doing a home search and how can you use today’s technology along with the knowledge of a real estate agent to make home buying easier?

A: Buyers should be hooked up on an automated search through their realtor, with the exact criteria for a home they are looking for.  Some great programs that can be found on www.lancekammes.com are:

                * Home Scouting Report (download mobile app here)

                * Chicagoareahomesnow.com

                * MLS auto-search set up through their realtor

These searches will help buyers completely understand today’s market, what is available on the market, and what homes are listing/selling for.

 

Q:  What is the one thing everyone needs to know when buying a home?

A: Gather the best team around you, including: an experienced, knowledgeable realtor, lender, attorney and home inspector.

For more information on our guest blogger please go to www.lancekammes.com to learn more.

 

 

Looking for more information on home buying?  Our Mortgage 101 Handbook is the ultimate guide for first-time homebuyers!

 

 Download: Mortgage 101 Handbook

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