Some would say that as a Realtor, I am a salesman. In fact, when I am representing a Seller, I am working diligently to sell their house. But when I am representing a buyer, I view my role a bit differently....
Salesman vs. Consultant
When I am working with buyer clients, looking at homes, I am never trying to convince them to buy a particular home. I am not trying to sell them on the merits of a particular house. What I am doing is trying to understand their housing needs and desires and to help them evaluate each home to determine whether it will meet their needs, and fulfill their desires. I am a real estate consultant, helping them to examine each critical aspect of a home to make a wise buying decision.
And yet sometimes (in retrospect) it would have helped my buyer clients if I were a bit more coercive!
I have now had two clients in the past two weeks who knew what house they were going to buy, but held off (for valid reasons) on making an offer. Then, in the time that they waited, interest rates went up, the associated monthly payment increased, and they were not comfortable buying anymore. If they had made an offer sooner, they would have finalized their financing, locked in their rate, and they would have been able to buy the house they had hoped to live in.
Rates aren't likely to go up drastically in the next few days, weeks, or months, but they are increasing --- and an increased rate changes your monthly housing costs.
Given this interest rate context --- I advise you to act speedily once you know which house you would like to purchase!
Read a bit more about pre-qualification here.
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