Please do not set yourself up for disappointment and failure.
Usually first time home buyers decide to go to open houses. There is nothing wrong with that--- gives you information on areas you may want to live in and information on prices in the area. However, at this stage, do not sign up with any realtor.
When you are really ready to purchase your home the most important step is to find a realtor who will represent you, the buyer. This person is called a Buyers Agent Realtor. You want and need someone to protect just your interest. We in Colorado are fortunate in having buyer’s agencies.
When you sign a Buyer’s Agency Agreement, do so for only a two-week contract at first. You must find out if you gel well together. If the agent asks: “Why such a short time?” you explain “We both need to know if there is a fit.”With my many years experience the Number One Complaint I hear from other people’s clients is: “My agent doesn’t listen to my wishes!” This is the main reason for not signing for a longer time frame at first with time buyer’s agency agreement. If all is going well with the relationship and you have been comfortable with the agent’s lender recommendations and the resulting loan package, then you can re-sign the agreement for two months.
If you have a first-rate realtor and a superior lender your home buying experience will be a good one. Most agents will give you a choice of three lenders and three home inspectors. You may have your own lender and inspector--just inform your agent and they will take it from there.
Sometimes buyers have been told that they can get more off the contract if they just work with the LISTING AGENT. This is not 100% sure, and the down side for a first time home buyer is that you have no one primarily on your side and looking out for your interests. As a realtor I have never liked what is called “double-ending”, that is, trying to represent both the buyer and the seller. I strongly believe that seller and buyer need their own representatives.
After your first good experience and when you are ready to sell and purchase again, then using one realtor is fine as you now know the ropes! It will be great fun to look for your first home with your realtor.