Zillow Advice: Finding a buy-side agent - Classes for First Time Buyer - Are they worth it?

I think any free education ...

Wed, 21 Oct 2009 19:56:00 GMT

I think any free education a buyer or seller can get makes our job a whole lot easier. However, I feel strongly that a buyer or seller should be able to attend classes specifically regarding their area of interest with no professional advertising around to harass them.

Also, if a buyer or seller has a good agent, that agent should be educating them before, during, and after....

If the criticism of the class ...

Tue, 06 Oct 2009 00:01:00 GMT

If the criticism of the class you attended is that it didn't add to your decade-plus self-education, I think by now you realize that you may have had unrealistic expectations of how advanced the content in a First Time Homebuyer Class might be.

I noticed that you've spent that decade-plus learning what to avoid when buying a home, and it appears that you have taken those lessons well.

Other people, on the other hand, might be attending these classes to learn what they need to know about buying a home, rather than what they need to know about not buying a home!

I went to one in my area. ...

Mon, 05 Oct 2009 05:12:00 GMT

I went to one in my area. It came down to 3 people. A realtor, a title insurance lawyer, and a banker. Each described what they did and handed out cards. My assessment follows: If you had no idea what you were doing it gave you some basic ideas. You learned a bit of what was needed and why. You even had a banker offer to give you a free fico score ( which I got).

What did it lack? Anything that helps the buyer to learn what to avoid. I wrote up about 2-3 pages of questions myself for property. Some are just for land, others just for buildings. Things like hazmat concerns, flood zones, location of town dumps (external hazmat) and things I have learned over a decade and more of wanting to buy a house. Problems that are not normally mentioned in contracts or by realtors. For example, if ytou buy a piece of land with previous hazmat on it you are liable for what you bought along with the previous owners. If you want more tough questions to ask and to consider you have to look for things yourself.

Those classes give a good intro to buying 101 class. But if you expect anything past the basics forget it. I felt as though I had more knowledge going in than I was met with. But again, every palce is different. and everyone has different expectations of their class.

The quality and goals of ...

Fri, 02 Oct 2009 17:10:00 GMT

The quality and goals of first time buyer classes vary greatly. Some classes are run with the goal of community education in mind such as those that are approved by HUD or run with the cooperation of a local community organization. People can get more information specifically for first time buyers from HUD here. Some classes like the type Mr. Sam mentioned are run by seasoned realtors who focus on the important areas of the buying process with the focus on providing information to new buyers. Unfortunately, other classes run by less reputable agents can be quite different with the only goal being to promote the real estate agents selling agenda with very little information. At this more sales less informative style seminar, any contact information given by the would be buyer is freely passed to the loan broker, realtor and any other professionals connected with the seminar and treated as straight marketing information. I personally find these sales based seminars to be less than honest since they promise information, but deliver a pitch instead.

Buyers need to be aware that real estate agents are in the business of selling real estate. Some agents are very honest and really do want to help people plan ahead to be ready to buy, while others goals are far less admirable. Buyers should trust their gut and pick an agent that they can trust to walk them through the process of buying. I think that most good agents are happy to take the time to help. If you decide to attend a first time class, please evaluate the seminar on the basis of the information provided and do not feel pressed into using the realtor that presented the seminar if they are not suited to your buying style/needs.

Reading the replies, it really ...

Fri, 02 Oct 2009 16:24:00 GMT

Reading the replies, it really shows the wide range of personalities out there. Of course, these classes are also wide ranging in the quality of info distributed. Ever take any classes at college? Did you like every teacher in HS? And yes, some are a veiled attempt by the agents, loan officers, etc to gain clients, but that is their job, give and receive. It is a good way to interview the agent (grill them), just like meeting agents at open houses...

Another point to this discussion, there are loan programs that requires a specific approved class. I was approved to teach that class by the State Finance Board. It's been about a decade since then. The instruction was state approved. I taought 8 or 9 classes over a few years. I think I sold a home, maybe two to those students. It was a way for me to give back.

The need for that class went away with the increase of 'cheap and easy' money over the last 7 years. The need may be back, now.

bad neighbor.Why is it so ...

Mon, 31 Aug 2009 14:03:00 GMT

bad neighbor.

Why is it so difficult for you to follow the community guidelines?

flag.

In my community the local ...

Mon, 31 Aug 2009 01:08:00 GMT

In my community the local realtors run classes like this via community education with the local school district. Certainly their motivation is to get new clients; however, in my community the successful realtors are those who have been in the business for 15+ years, are from the community originally, and have stellar reputations.

I went to one of these years ago and found it a perfect orientation to the in's and out's of real estate transactions. I would say if you are looking in a strong community where people stay, reputations are important, etc. - rather than the flippy ones where buyers, realtors, and loan officers are more interested in making a buck - they are really valuable.

I never got a phone call or any sort of follow-up after my class. I saw the agent here and there and she was always pleasant and helpful. She's top in town, as well as her broker. There's a reason for that.

- Do you even bother ...

Sun, 30 Aug 2009 23:59:00 GMT

- Do you even bother to try to explain

The field is wide open; perhaps the homebuyer would be well served if you were to offer a class of your very own.

for someone actually buying ...

Sat, 29 Aug 2009 17:04:00 GMT

for someone actually buying a first home who does not have a clue as far as the process and what is required of them and what is expected of them and the role each professional plays in the process i think it should be mandatory that one attend a first time buyers course.

I love the anger on these ...

Tue, 25 Aug 2009 21:51:00 GMT

I love the anger on these forums. It's very helpful to consumers.