1. If I see a house that I am interested in, do I have to work with the company that has it listed or can I work with another company in the area?

You may work with any reputable real estate company in the area. Real estate companies work cooperatively with each other inclusive of all listings in the area, in most cases.

2. If I work with the company that has the listing, will I get a better deal?

In most cases, no.

3. I have heard that real estate agents work for the seller because the seller pays their commission. How does that help me, as a buyer?

In many cases, this is true. Your agent must disclose to you whether he/she represents the seller or whether he/she is acting as a transaction agent. You may even enter into an agreement with an agent, whereby he/she acts as a buyer’s agent, representing the best interests of only the buyer. Discuss this with your agent, but don’t be overly concerned here. These disclosures must be made to you. It’s Colorado law.

4. I am interested in all the homes that are for sale in an area, not just the one’s listed by a particular company. How can I be sure that I am getting information about all listings without visiting every real estate company in town?

Most reputable real estate companies belong to the MLS (Multiple Listing Service). That means that they have access to a database that contains all listings in their area. This is where a hard-working agent can be valuable to you by spending the time and effort researching all properties that fit the description that you provide them. Proper research and follow-through is time-consuming and hard work.

5. I am interested in buying land, not a house. Who do I call?

Real estate companies list land as well as homes, condos, etc. Follow the same process for finding a good realtor to work with. Be prepared, however, it often requires more of a down payment for land than for a house.

6. I'm not sure how much I can qualify for on a mortgage loan. Can my real estate agent help me in this area?

Yes. Real estate agents work constantly with lenders and a good agent will be able to guide you through the process of getting pre qualified or even pre approved for a mortgage loan in a very short period of time. Doing this is a great time saver for both you and your agent, since it will target only those properties that you can afford.

7. Can I select a Real Estate agent based upon my own criteria, or must I depend on the “luck of the draw” when I walk into a Real Estate office?

We feel it is extremely important for you to find an agent that you are comfortable with. We invite our potential clients to visit with as many of our agents as they like to determine who you are the most comfortable with.

8. How can I find a real estate agent that's best for me?

Again, it is important that you deal with an individual that you feel comfortable in conversation with. We stand behind all of our agents when it comes to honesty, integrity, expertise and knowledge of the area. You may consult the managing broker for guidance as to agents who may be better suited in your particular area of interest.

9. If I find a house that I am interested in buying, do I need to hire a lawyer to draw up a contract, or can my agent help me here?

Real estate agents are not lawyers and we always recommend that your consult with your attorney regarding legal matters. Your real estate agent can, however, provide you with guidance and present a standardized contract with your offer on any property.

10. How can I determine if I am getting a fair price on a house?

Ask your real estate agent to run a CMA (Comparative Market Analyses) for you. This will compare homes that have recently sold in the area that are comparable to the one you are interested in.

11. How much do I have to have for a down payment?

It depends on a number of variables. There are occasions where as little as 1% to 2% down is sufficient, while at other times it makes sense to make a 20% down payment. Your real estate professional can consult with you in this area and give you valuable guidance.

12. What kinds of loans are available?

In today's market, there are a variety of loans available and a great number of lenders that will appreciate the opportunity to compete for your business. Again, an experienced real estate agent can provide valuable guidance as well as introduce you to dependable, honest lenders.

13. As a seller, how can I find out what my house is worth? Do I need to get more than one opinion?

Initially, your real estate agent can provide valuable guidance and perform a CMA (Comparative Market Analysis) for you. Prior to completing the sale, a formal appraisal will have to be done in order to satisfy a lender.

14. I want to buy a different house, but I have to sell my old one first. How can I coordinate this and not get “caught in the middle”?

Work with your real estate agent. He/she can show you how to draw up a contract whereby the purchase of your new home will depend upon the sale of your old home. There may be other variables present, but a competent real estate agent can show you any number of ways to make things work.