FAQs About Realtors
Welcome to my FAQ section! Whether you're buying your first home or just exploring your options, I've answered the most common questions people have about working with Realtors and Lenders.
🅠 What does a Realtor do?
A Realtor helps you buy or sell a home by guiding you through the process, negotiating on your behalf, and handling the paperwork.
🅠 Do I need a Realtor to buy a house?
No, but having a Realtor can make the process easier, less stressful, and often more successful.
🅠 How do I find a good Realtor?
Ask for referrals, read online reviews, or interview a few agents to find one you’re comfortable with.
🅠 How much does a Realtor cost?
Buyers usually don’t pay their agent—sellers typically cover the agent fees.
🅠 Can I buy a house without a Realtor?
Yes, but it can be more challenging to handle contracts, negotiations, and deadlines on your own.
🅠 What’s the difference between a buyer’s and seller’s agent?
A buyer’s agent represents the buyer’s interests, while a seller’s agent (or listing agent) represents the seller.
🅠 Will the Realtor help with paperwork?
Yes, your Realtor will handle all contracts, disclosures, and timelines.
🅠 Can one agent represent both buyer and seller?
Yes, this is called dual agency, but it’s not allowed in every state and may present conflicts of interest.
🅠 How do Realtors get paid?
They earn a commission, usually a percentage of the home’s sale price.
🅠 Should I use the agent my builder recommends?
You can, but it’s best to also consider using an independent agent to ensure your interests are protected.
🅠 Can a Realtor help me find a loan?
Yes, many Realtors can refer trusted lenders, but you’re free to choose your own.
🅠 How long does it take to buy a home with a Realtor?
On average, it can take 30 to 60 days from offer to closing, depending on the situation.
🅠 What happens after I make an offer?
Your Realtor will negotiate terms, coordinate inspections, and guide you through the next steps.
🅠 Will a Realtor tell me if the price is fair?
Yes, they’ll provide comparable home data to help you make an informed offer.
🅠 Can I switch Realtors?
Yes, but check your agreement first if you’ve signed one.
🅠 What questions should I ask my Realtor?
Ask about their experience, local knowledge, negotiation style, and communication habits.
🅠 Can a Realtor help me sell and buy at the same time?
Yes, many agents specialize in managing both transactions together.
🅠 What’s the difference between a Realtor and a real estate agent?
All Realtors are agents, but not all agents are Realtors. Realtors are members of the National Association of Realtors and follow a strict code of ethics.
🅠 What does a Realtor do at closing?
They review the final paperwork and ensure everything is correct before you sign.
🅠 What’s the first step to take with a Realtor?
Schedule a consultation to talk about your goals, timeline, and what you’re looking for.
FAQs About Lenders
🅠 What does a lender do?
Lenders provide the financing (loan) you need to buy a home.
🅠 How do I find a good lender?
Compare rates, fees, and reviews. You can also ask your Realtor for recommendations.
🅠 Can I get a loan without good credit?
Some loan programs are available for lower credit scores, but your options may be limited.
🅠 What paperwork do I need for a loan?
Common documents include pay stubs, tax returns, W-2s, and bank statements.
🅠 Do I need a lender to buy a house?
If you're not paying cash, yes—you’ll need a lender to secure a mortgage.
🅠 How much does it cost to get a loan?
Expect to pay fees for loan origination, appraisals, and closing costs. These vary by lender.
🅠 What credit score do I need to buy a house?
Typically, 620 or higher is preferred, but FHA loans may accept scores as low as 580.
🅠 How do lenders make money?
Lenders earn money through interest on your loan and fees charged during the loan process.
🅠 What’s the difference between pre-approval and pre-qualification?
Pre-qualification is a rough estimate. Pre-approval is a more detailed review and carries more weight with sellers.
🅠 Should I use the lender my Realtor recommends?
You can, but it's smart to compare at least two or three lenders to see who offers the best deal.
🅠 Can a lender help me figure out my budget?
Yes, they’ll review your income, debts, and savings to determine what you can afford.
🅠 Will a lender help me understand my monthly payments?
Absolutely—they’ll show you how your mortgage, taxes, insurance, and HOA fees add up.
🅠 How long does loan approval take?
Pre-approval can take a day or two. Full loan approval usually takes 2–4 weeks.
🅠 What happens after I apply for a loan?
Your application goes through underwriting, where your finances and property are reviewed.
🅠 Can I switch lenders during the process?
Yes, but it may delay your closing and come with extra costs.
🅠 What questions should I ask my lender?
Ask about interest rates, loan types, fees, and the estimated timeline to close.
🅠 Can a lender help with down payment assistance?
Many lenders offer access to local and national down payment assistance programs.
🅠 What does a lender do at closing?
They provide the funds and final paperwork needed to complete your home purchase.
🅠 What’s the difference between a bank and a mortgage broker?
Banks lend their own money. Brokers shop around with different lenders on your behalf.
🅠 What’s the first step to take with a lender?
Start with a pre-approval to know what you can afford before you begin house hunting.