For first-time homebuyers, acquiring your dream home may not be as simple as saying that you want a “two-story house with a garage in a quiet neighborhood.” Clearly, there's so much more to a home than that. You should not be restricted to the price either since it is only part of the bigger process.
You must closely think of what you really desire in your home. Perhaps it will help to prepare a list of features that you prefer. Here's a quick list of the parameters, home features and amenities that could guide you in finding that dream home of yours.
Location and Neighborhood
Suburbs or Country - The houses here are generally more expensive but often newer. These are also farther away from the cities.
Urban - Closer to many employers, entertainment districts, restaurants and schools, but also often noisier.
Busy Streets - Often, these are homes on streets with more traffic.
Cul de sac - Cul de sac is a short road which is closed off at one end. It is a common choice for buyers with children.
Corner lots - These are often larger lots with fewer neighbors.
School Districts
Number of Stories
Single Story - A single story house is easier to clean and gives easy access for individuals with certain medical conditions.
More than One Story - These houses provide more living space. There is also less noise if members of the family have their bedrooms upstairs.
Split Levels - A house style in which floor levels are staggered. It typically has a square footage on same size lots as ranch homes.
Interior Specifications
Number of Bedrooms - The common minimum requirement is three bedrooms. However, two bedrooms appeal mostly to first-time homebuyers and seniors.
Number of Bathrooms - A house with more than one bathroom is preferred by most people.
Additional rooms - Extra space for children's playroom, media/art rooms, hobbies and others.
Square footage - Larger spaces offer more room. But in the end, it is still the layout of the room that is the most important.
Home Style and Home Exterior
Garage - You can choose from an attached or detached garage.
Home Construction - Specify your preferred roof, flooring, yard and primary material of the house.
Special Amenities - Include fireplaces, pools, among others.
Specific Home Features
Condition of plumbing, electrical, heating & cooling units.
Available utilities such as DSL, cable, satellite and others.
Bottom Line
If you've decided to buy your dream home, hire an experienced real estate agent who will help you through the whole home buying process. He/She will guide you through your house-hunting, whether it is through the local MLS, or through his/her property listings.

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Processes
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Consultation

2
Pre-Approval

3
Property tours

4
Write offer

5
Under Contract or Escrow

6
Appraisal

7
Inspections

8
Closing

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Reviewing each others roles and responsibilities as we embark on the next steps of your home-buying journey is how we can decide if we are ready to be loyal to one another.
Counseling Session Activities
- Prepare the buyer for executing a buyer representation agreement
- Explain agency relationships to the buyer and get state required legal consent to represent, if needed
- Inform the buyer of working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
Building a Relationship
- Learn the buyer’s wants and non-negotiable needs
- Understand the buyer’s budget and what will be needed financially
- Help the buyer understand what property their chosen budget will buy
- Consider having the buyer fill out a homebuyer’s checklist
- Assist the buyer in examining how much they can afford to spend
- Provide quality lender resources
- Partner with the buyer to locate suitable properties for consideration
- Match the buyer’s needs with available property
- Constantly re-evaluate buyer’s needs and refocus property showings to fit those needs
- After ensuring the buyer understands what is done for them, how it is done,and the benefit to them, obtain signatures on the buyer representation agreement
- Explain how compensation is paid, who pays it, and what the buyer’s options are for paying it
Educating the Buyer
- Communicate the working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
- Explain Federal and State Fair Housing laws
- Explain what to look for in applicable property disclosures
- Reassure the buyer that their personal information will remain confidential
- Inform the buyer that you will always disclose all known material defects
- In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood
- Discuss available resources that the buyer can check to learn more about prospective neighborhoods

Preparing the Buyer
- Explain the timeline for house hunting, mortgage approval, and closing
- Explain the local market and how it impacts the buyer
- Show statistics on what percentage of list price sellers in the area are currentlyreceiving
- Inform the buyer on what home features are popular
- Identify current average days on market
- Share the dangers of using the price per square foot to figure home values
- Explain the concept of absorption rate and how it impacts the buying process
- Indicate current listing months of market inventory
- Share estimated potential out-of-pocket costs to complete the transaction
- Assist the buyer in analyzing the loan estimates
- Qualify the buyer for financial ability to purchase
- Help the buyer account for the complete costs of homeownership
- Prepare lender for listing agent calls
- Assist in comparing different financing options
- Help the buyer select for viewing only those homes that fit their needs
- Proceed in showing homes that fit the buyer’s must-haves
- Caution the buyer on posting information to social media
- Review the sample sales contract so the buyer is prepared when it comes time to make an offer
Showing Properties
- Schedule showings and provide access to all listed properties as soon as they become available in their local MLS broker marketplaces
- Educate the buyer on the immediacy of new listings appearing in their local MLS broker marketplaces and the lag time for them to appear on some websites
- Collaborate with the buyer on properties they may have learned about through their sphere contacts
- Research and assist on all unlisted properties the buyer wishes to see
- Preview properties prior to showing if needed
- Network with other agents to source properties not yet in their local MLS broker marketplaces
- Contact homeowners in focus areas to see if they are considering selling
- Set up an automated email alert system through their local MLS broker marketplaces that immediately notifies the buyer of properties that fit discussed requirements
- Arrange a tour of areas, schools, and key points of interest
- Provide resources containing neighborhood information on municipal services,schools, etc.
- Inform the buyer of negative aspects like nearby venues or operations that may result in issues that could impact value
- Collect and share any other vital information on available homes, remembering to follow all fair housing laws at all times
- Check applicable zoning and building restrictions
- Help the buyer decipher public property and tax information
- Collect and share pertinent data on values, taxes, utility costs, etc.
- Compare each property shown to the buyer’s wants and needs list and remind them of what they were looking for
- Help the buyer narrow the search until the buyer identifies top choices
Negotiating Offers
- Assist the buyer in getting the best property at the best price
- Suggest that the buyer learn more about the neighborhood prior to makingan offer
- Prepare a comparative market analysis (CMA) in advance of making an offer
- Prepare the buyer to have the most attractive offer in the current marketplace
- Explain common contract contingencies and include approved protective clauses in the purchase offer
- Ensure that the buyer receives and understands all state and federally-required disclosure forms
- Prioritize contract negotiation goals with the buyer
- Help create a negotiating strategy
- Use strategies such as an escalation clause to maintain a competitive offer
- Prepare the buyer for a multiple offer situation and develop negotiation strategies
- Write an offer that has a reasonable chance of being accepted
- Recommend optional contingencies and explain the pros and cons of using them
- Provide information on purchasing incentives that may be available
- Discuss financing alternatives
- Negotiate the buyer’s offers to arrive at the best price and terms
- Utilize hyperlocal expertise and strong communication skills to assist the buyer in being the successful offer

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