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What Every Tulsa Home Buyer Needs to Know About Oklahoma Real Estate

            Like so many other things, the internet has completely changed real estate.  The internet has not only made real estate easier, but it has given the home buyer the ability to get representation and protection for free.  Originally, the only way to purchase a home was to find for-sale-by-owner homes.  Real estate then evolved into listings and Real Estate Brokers.  People in the market for a new home could now go to a real estate office and see all of that office’s listings.  This was obviously a huge step forward  in real estate.  However, the Oklahoma law required all real estate agents to get the highest sale price possible for their seller's home.  This, of course, was unfair to the buyer and many found themselves overpaying for their homes. 

Today this method is still in practice and many home buyers make this same  mistake of purchasing a home from the listing agent.  When people see a home in a magazine or even on the internet, they naturally call the listing agent, because their picture and phone number are right next to the home of their dreams, but pay a nightmarish price.  Another problem is that many  people end up buying a home when they are “just looking,” because they have not been properly informed and prepared for purchasing a home.  This happens often and easily when you do not have a personal real estate agent to walk you through each step, but instead contact a listing agent who will push the sale of their client's home at the thier client's ideal price, even if it isn't your ideal home. 

 If  you are in the market for a new home, the best advice I can give to you is to   shop for your realtor first, and then let him/her shop for your home using the specific criteria you have provided.  This will not only save you time and money, but stress and frustration, too.   Your realtor has a vurtually unlimited access to tools for home searching that are not available to the general public.  Also, when you sign an agreement with a buyer’s agent, (your real eastate angent), the law requires that agent to work solely on your behalf,  negotiating the best possible price and protecting you from overpaying.

  Finally, the best part about buyer representation is that  it's free.  The buyer's agent's commission is paid for by the seller of the home.   The internet is the absolute best way to view properties and you can literally view hundreds of properties that meet your criteria and discard any that may have sounded perfect over the phone, but don't meet your expectations once you have seen them.  Your buyer's agent can do these searches for you and help you to weed out any properties that are similar but don't exactly match your  needs, and then e-mail the properties to your inbox, continuing to save your valuable time.  You wouldn’t go to court without experienced representation, so protect yourself and save money by using experienced, qualified buyer representation.

Summary

Traditional Real Estate

·        Offers protection for the seller only

·        See fewer homes

·        Find homes slowly

Buyer Agents (New way of Real Estate)

·        See all available listings in your state

·        Buyer gets representation and protection

·        Seller pays for buyer’s representation and protection

·        Save time with the internet (weed out properties on-line)

                                                                                                            Chase Powell

For more Information on Tulsa Real Estate or your Tulsa Home Search contact Chase Powell at 918-409-1881 or chasepowell@tulsarealtors.com