How to Find the Best Real Estate Agent in Charleston, SC as a First-Time Home Buyer

Buying a home is one of the most important (and expensive) decisions you'll make during your lifetime. So it stands to reason that purchasing your FIRST home is a decision you shouldn't take lightly. The best way to ensure the process goes as smoothly as possible is by choosing the best real estate agent for your needs. But, with over 1,700 real estate agents working in Charleston, South Carolina's real estate market alone - where do you begin? This article will provide you with the best information and important steps in picking the perfect agent for you.

Do You Have to Use a Real Estate Agent to Buy a Home in Charleston?

Your first inclination may be that purchasing a home without the help of a real estate agent in South Carolina will be:

1. Less hassle
2. Will save money
3. Solve the majority of your concerns

There are no commissions to pay, you make all the decisions yourself and you won't worry if the real estate agent is doing their job because, well, you're doing all the work! However, there are a few things you should consider before deciding to go solo.

Most importantly, if a home is listed by a licensed Realtor® on the MLS, prospective buyers will need some sort of representation. The level of representation will vary and can be determined by the seller and/or brokerage listing the property.

Are you a "Customer" or a "Client"?

These terms may seem interchangeable but Charleston, SC real estate laws see it differently. South Carolina license law defines "customers" as buyers or sellers who choose NOT to enter into a written agreement with a real estate agency. The law requires real estate licensees (Real Estate Agents) to perform the following basic duties when dealing with any real estate buyer or seller as "customers":

"Present all offers in a timely manner, account for money or other property received on your behalf, provide an explanation of the scope of services to be provided, be fair and honest and provide accurate information, provide limited confidentiality, and disclose “material adverse facts” about the property or the transaction which are within the licensee's knowledge."

Unless you enter into a written agreement with the brokerage firm for agency representation, you are considered a “customer” of the brokerage firm, and they don't actually act as your agent. For that reason, you shouldn't expect the brokerage firm or its licensees to promote your best interest. They will simply provide the bare minimum assistance as required by law for the purchase of the home.

However, once you sign a written agreement (also known as a Buyer's Agreement or Seller's agreement) you are now considered a "client" and the real estate agent is able to provide a much wider range of services and personal attention to ensure your best interests are being met.

Why Should a First-Time Home Buyer use a Real Estate Agent Instead of Doing it Themselves?

First-time home buyers benefit from the expertise, networks, and local knowledge of a real estate agent. Real estate agents that represent the buyer's interests are known as a Buyer's Agent. In contrast, a Listing Agent represents the seller's interests, not the buyers.

An experienced buyer's agent can help navigate through the home buying process from beginning to end. They use their local knowledge to assist in locating suitable homes for the buyer in their price range and negotiate the best terms for the purchase. These real estate experts are experienced with navigating any issues that may arise. They can also offer suggestions for lenders, home inspectors, insurance agents, and closing attorneys in the Charleston area. In some cases, like my real estate brokerage, the agent will have access to these trusted resources under one roof.

How Much Does it Cost to Hire a Real Estate Agent?

In most situations, the buyer doesn't pay their real estate agent for representation. The seller pays the real estate commissions to the buyer's agent and seller's agent from the sale of their home.  

What is the Difference Between a Real Estate Agent and a Realtor®?

A great question! I like to tell people to remember this saying, "All Realtors® are Real Estate Agents, not all Real Estate Agents are Realtors®". Realtors have gone a step further to become members of NAR or The National Association of REALTORS®. This means they adhere to the NAR Code of Ethics and pursue continuing education throughout their career.

"All Realtors® are Real Estate Agents, not all Real Estate Agents are Realtors®"

 

Which is the Better Choice for a First-Time Home Buyer?

I'm a licensed Realtor® so I may be biased, but it's my opinion that using a Realtor® is the best choice for first-time home buyers. Realtors® have proven they are willing to invest their time and efforts in continuing education and stay informed of changes in laws and best practices for themselves and their clients. 

How Do I Choose the Best Real Estate Agent and What Criteria I Should Use to Decide?

Finding the best agent to represent you in buying your first home shouldn't be rocket science but, there are a few boxes that need to be checked in order to be confident you've narrowed down your search to the best real estate agent in Charleston. Simply choosing a Charleston real estate agent on social media that runs lots of ads or has a large Instagram following won't cut it; make sure you do your homework first.

"Simply choosing a Charleston real estate agent on social media that runs lots of ads or has a large Instagram following won't cut it..."

Here's a list of important things to factor into your decision:

1. Referrals

Ask for referrals from your friends and family for agents that have done a good job for them or someone they know. As a first-time homebuyer, you'll want referrals for someone who's experienced working with buyers like you as your needs will be different than a repeat buyer. After 18 years as a Realtor® in Charleston, the majority of my business has been a result of referrals from family, friends, and previous clients which reflects well on the service I've provided. 

"As a first-time homebuyer, you'll want referrals for someone who's experienced working with buyers like you as your needs will be different than a repeat buyer."

2. Experience & Local Knowledge

Is this an agent with experience that has several years or more in the real estate industry in South Carolina? The agent should know the areas you're interested in well but also have in-depth knowledge of other areas, too. They'll be able to provide suggestions if your first choice doesn't work out or make comparisons to help you with your decisions. In addition, they should display a solid grasp of real estate laws and the home buying process. Review their online presence to see if they convey their experience and knowledge of the Lowcountry through blog posts and social media in a way that's easy to understand.

"Review [the agents] online presence to see if they convey their experience and knowledge of the Lowcountry through blog posts and social media in a way that's easy to understand."

3. Communication & Transparency

You want your agent to be in regular communication with you during the home buying process. An email, call, or text shouldn't languish for days before you get a response. In the early process of choosing an agent, do the prospective agents respond to your questions in a timely manner? Are their answers helpful and clear? This likely dictates the way they'll communicate after you begin the home search process with them and you don't want to miss out on opportunities or be left in the dark.

Additionally, you want a real estate agent who's open and honest. Are they politely blunt and upfront with you when answering your questions? If so, you can expect them to give it to you straight so you're not left wondering, "What if?".

And ask the agent if their written agreement allows you to terminate it if you're unhappy with their service, or if there are fees associated with the cancellation. Your real estate agent should seem honest to a fault and be straightforward with their answers.

4. The Three "R's": Reviews, Research & References

Look for online reviews of real estate agents you're considering to see what others' experiences have been. No one's perfect, so a few negative reviews might not be a deal-breaker. However, if the majority of those reviews are negative or indicate a pattern - red flags should start to go up for you.

Research your potential agents for any complaints or disciplinary actions with the BBB or South Carolina State Regulators. Do they actively champion working with first-time homebuyers online? Do they celebrate their successes and seem genuinely passionate about helping folks like you?

And ask the real estate agents you're considering working with for some references that you can contact and interview, as well. Ask those references about their experience and if they'd consider working with the agent again.

"...do they actively champion working with first-time homebuyers online? Do they celebrate their successes and seem genuinely passionate about helping folks like you?"

5. Weigh your top 3

After you've done all the above, consider choosing your top 3 picks to represent you in the buying process and weigh their "pros and cons" from the information you've gathered. Think about their personality and preferences and consider if they mesh with yours. Are they okay with texts or prefer phone calls? Can they accommodate your schedule to view homes during weekday evenings? Have they exhibited good knowledge of financing options to help you during the offer stage? Have they taken the time to get to know you well enough that they've made suggestions based on your lifestyle/needs? 

6. Go with your gut

Ultimately, the final decision comes down to your intuition. Hire someone you like! Do they feel like a great fit? Are you comfortable with the agent and feel they will put your priorities first? If you've already enjoyed your interactions with them and are impressed with their expertise - then go for it! 

"Ultimately, the final decision comes down to your intuition. Hire someone you like!"

Once you decide on a real estate agent to use, what are the next steps?

Once you’ve decided on a real estate agent and receive your mortgage pre-approval, it’s time to sign a Buyer’s Representation Agreement. This spells out the duties each party has to one another during the relationship. After that, it's time to start the home search! 

If you'd like to learn more about what a buyer's representation agreement is or have more questions about the home search process, contact me today.