3 Questions to Ask Before Hiring a Realtor

What questions should you be asking a Realtor before you hire them? Start with these three.

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When hiring a Realtor to list your home, you shouldn’t make an impulse decision. In fact, you should interview a few different Realtors for the job and ask them specific questions about their business. Here are three examples of smart questions to ask any Realtor before you hire them:

1. What’s your track record? Ask them how long they’ve been in the business, how many homes they’ve sold, how big their team is, and more. You don’t want to hire somebody that doesn’t have any experience. You want a Realtor with the experience and knowledge necessary to get your home sold for top dollar.

2. What are you going to do to market my home? The days of putting a sign in the yard and waiting for a buyer are long over. Your Realtor needs an aggressive marketing plan and an aggressive marketing budget in order to have a successful sale. It takes a strategy to sell a home for the price you want.

3. What are your reviews like? You don’t even have to necessarily ask this question. You can find the answer for yourself online. If the Realtor doesn’t have very many online reviews or has poor reviews, you should avoid them.

You can investigate customer feedback online.

Choosing a Realtor is about more than just picking a friend or a face on a sign. It's about knowing who has the track record and the motivation to get your home sold for the most money possible.

If you have any questions for us or you’d like to interview us for the job of selling your home, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

Could Refinancing Hurt Your Credit?

Can refinancing your mortgage actually hurt your credit? The short answer is yes, but whether or not it will is much more complicated.

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Can refinancing your mortgage actually hurt your credit?

Right now, mortgage rates are at historic lows. For many people, this is a reason for them to refinance their current mortgage, since refinancing allows you to pay off your current mortgage with a new one at a lower rate.

In other words, refinancing means you can lower your monthly payment and put more money in your pocket. But an important factor that many people don’t understand is that refinancing can negatively affect your credit score.

When you refinance your mortgage, the new creditor will do a hard inquiry about your credit history, and this hard inquiry can lower your credit score. This is because looking into new credit lines, like a new mortgage, equates to a greater risk.

How much will this actually lower your credit score? It depends on several factors. In some cases, a hard inquiry may not lower your score at all. In other cases, your score may be lowered by five or more points. It depends on the number of inquiries you’ve had over a certain time frame.

Your score may also be more dramatically impacted if you have a short credit history. If you shop around for the best rate for 45 days or more, you might accrue multiple hard inquiries. This could translate into a negative impact on your credit score.

Refinancing means you can lower your monthly payment and put more money in your pocket.

What does all of this mean for you as a homeowner? Is this a reason for you not to refinance? This isn’t an easy question to answer. It’s best to meet with a mortgage professional who will help you determine what’s best for your specific circumstances.

My team and I would be happy to refer you to one of the many great professionals we’re connected with in this area. If you are thinking of refinancing, the first step is to call us and get a market analysis. The more equity you have in your home, the lower your interest rates could be.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.