Critical Buyer Information

Selecting The Right Agent

Congratulations . . .

You've decided to move forward and purchase real estate now! You realize that there is no substitute for competent, knowledgeable, committed professional representation. You are committed to moving forward and want to find an agent who can accomplish this . . . What do you do?

The Results Group who has decades of experience in and around the real estate industry and who have had the privilege of participating in the training many of the top ½ of 1% of Realtors in the US and Canada. Serious buyers will benefit from reviewing the standards below, and if you don't have an agent who meets these minimum requirements, email them at info@trgcoaching.com and ask them to find an agent to help you.

Minimum standards when hiring an agent to hire to assist you in buying your property:

1. They spend at least 3 hours/week building their skills and professional competencies

2. They provide you with an outline of what to expect, how the process will work, what you should expect as a buyer, a list of buyer's FAQ's, information on ALL of the properties in your area and price range, and all of the forms and documents necessary to get started prior to taking any of your time in person.

3. They DO NOT waste your time driving you around to countless properties that will not work for you. In fact, the most capable will only actually show you 1-3 properties because they will instead invest their time and efforts in helping you to quickly become more knowledgeable about the market you will be buying in than 95% of the real estate agents in that market!

4. They respect you and your time and will not spend hours telling you all about them, instead they focus their efforts on what you, the client, need to accomplish. They will share the 2 key questions every buyer should ask before viewing any property.

5. Ideally, they work directly with a coach, mentor or guru to assist them in constantly learning how to grow their business forward thereby benefitting all of their clients (if they don't have them contact us!)

6. They care enough about you, your needs, and your situation to assist you in seeing the reality of the current market by being honest and direct. Much like a great doctor, they will demonstrate empathy while helping you to examine your options not sugar coating or telling you what you want to hear.

7. They either possess, or have access to, experience in all types of markets with all types of properties.

8. You know they are different when you speak with them; they impress you as professionals, not the kind of people who plaster their own pictures all over their signs, their cards and their ads!

What To Expect During The Home Buying Process

Today’s buyers have more choices than at any time in history. We have a specific, proven path to success for savvy, committed buyers. Here is an outline:

Step #1

We forward you this buyer information package. It’s critical you invest the time to review the material herein so that you can be the most knowledgeable and informed buyer in the marketplace thereby virtually assuring yourself of the best possible buying experience.

Step #2

You then speak with our preferred lender thereby creating a safety net. Every day we hear more and more stories about buyers who find a great deal on a property of their dreams only to get to the point of closing on the property to find out the interest rate and mortgage terms they have been offered are no longer available. All too often this results in buyers being pressured into the tough choice of accepting the high rates and costs or losing the house they want and potentially having to settle for another property with a less favorable mortgage product. We require that our clients either speak with our preferred lender or provide a proof of funds available for their purchase. This simply allows us more flexibility in fully representing your interest and allows you the peace of mind to know that if a “too good to be true” financing deal turns out to be too good to be true, you have the safety net of knowing that you won’t lose the property.

Step #3

We forward you information on EVERY property available in your area and price range. We have found that this allows successful buyers to quickly learn more about “their market” than 90%+ of all Realtors. Sort of scary huh?

Step #4

You review the available options in the marketplace from the comfort of your home, deleting those of no interest and setting aside those in which you have an interest. At your leisure you drive by any that “jump off the page” at you. When you stop in front of each house ask yourself “can I picture myself living here? Is it close enough to schools, stores, work, etc?” If the answer is yes, ask yourself the second question, “If the inside is in the same or better condition than the outside, am I ready to submit the offer as soon as I see the inside?” If the answer to both of these questions is “YES” then we need to get you inside quickly so that you can be one of the successful buyers who gets “a good one.” If the answer to either question is “NO” simply go home and wait for more properties to come along.

Step #5

On average you will only look at 1-3 homes before we write your offer. Since you will know what a good value is before you write your offer, you will most likely be able to write a strong offer likely to be accepted by the sellers and we will begin the process of clearing contingencies and getting you through escrow and successfully closing on the property.

Step #6

We return to Step #1 above and repeat process OR you share us with your 10-20 closest friends, family and co workers so that they may enjoy the same positive experience you have just completed. We will always bend over backwards to make you look good and to take care of those you care enough about to ask us to help for you. In the process we will make certain that you get all the credit for caring enough about these people to put them in touch with the best.

Buyer Frequently Asked Questions

The market keeps falling why should I buy now?
Over the past few weeks we have seen interest rates (read this as "the cost to borrow money") increase on all sorts of loans. For comparison sake let's look at a 30 year fixed rate loan. Less than a month ago you could lock in a rate in the mid to upper 4% range; today that same loan is over 6%. Now 6% is obviously still a GREAT rate historically! But let's take a look for a minute at what this means to an "average" US home buyer. Let's use a loan amount of $200k @ 4.625% you're monthly P&I (principal and interest) would be $1028.28 @ 6.125% your monthly P&I has now jumped to $1215.22 This is an increase of $186.94 or 18.2% in your payment (did housing prices in your marketplace drop 18.2% over just the past few weeks?) This means you will pay an extra $2,243.28/yr or an extra $67,298.40 over the life of the 30 year loan
Should I wait for rates to come back down?
Ok, that might make sense, let's take a look at what we know about interest rates . . . Interest rates are the reward or return and investor/lender receives for the risks associated with making a loan. How do you think most lenders are feeling about the risks associated with mortgages right now as each month the # of defaulting loans goes up and up? If you don't remember what has happened in the past when unemployment rates rose, when there was trouble in the financial markets, when prices on commodities (things like oil) rose, and when there was global political unrest, ask someone where interest rates went in the later parts of the 1970's and 1980's (I'll give you a hint mortgage rates hit double digits and the first digit wasn't a "1") Do we have any of those factors happening today? So what is the lowest mortgage rate you have ever heard of? I've heard of fixed rates down into the high 3's and low 4's. So what is the highest mortgage rate you have ever heard of? Based on your answers to the last 2 questions, which direction can rates move more? When, now, do you think you should be locking in a rate and buying???
Are market conditions going to improve?
As a buyer you are walking a fine, yet interesting line. We have seen market prices correct, and will continue to see this. Because of defaults by those who bought before you. Irresponsible lending policies created a tidal wave of foreclosures and short sales. This supply has created the downward pricing pressure on the market that you are now benefitting from. Along with the downward pricing pressure we continue to see more and more pressure to raise lending standards. Borrowers now need more money down, more income, higher credit scores, and more job stability just to name a few. As we see banks absorbing more and more losses over the next few years, what do you think will continue to happen to these lending standards?
Should I be looking at buying a multi family home?
Often times buyers, particularly first time buyers are moving from leasing an apartment into owning their own home. We have had extreme success in assisting clients to buy multifamily residential properties. You may already be used to living close to your neighbors, if you could own the property you live in, collect rents and potentially live for less than the cost of renting, would you be interested? Ask us how this can be accomplished
How can I avoid having falling real estate prices harm me?
We believe in 2 types of equity. Soft equity is equity that is created by market conditions resulting in prices escalating and you, on paper, growing your equity. Hard equity on the other hand is when you actually pay down (or off) your debt against a property. When you commit to work with us we can suggest reputable means of accomplishing hard equity accumulation. Contact www.moorehelptrust.com and learn how you can, with no extra expense, pay off a 30 year mortgage in typically 12-15 years or less. You have of course seen what happens to people who really on market conditions to create their equity. Do you want to control your equity or have it controlled by the market?
You mentioned you do things differently, why?
For several years now Gallup, the polling people, have found that the public's perception of the real estate industry is actually less favorable than that of the used car business. Would you want to be part of that group and do what they do? Or would you want to do things differently, in many cases do things exactly the opposite?