Buying residential homes in the USA - The real estate process



U.S real estate can be confusing at times because it is structured differently when compared to other countries. When committing to purchase, there are things you should and should not do to ensure you have a trouble free transaction. The most significant difference in the real estate market in the U.S is a service called Multi-Listing Service (MLS). The key feature MLS has is to grant access to all the properties for sale in that area. This is good because as a buyer you only need to be in contact with one realtor to view all the available properties. In other property markets around the world, it is common that real estate agents would only have access to a limited number of properties in the area. The MLS system used in the U.S is a great tool because a well researched realtor would have the ability to show every property. A common error made by an overseas buyer is they will contact multiple agents, to the realization that they are all selling the same properties. Taking the time out to select and identify a realtor that you are comfortable enough to work with, this way they can show you all the potential properties that will fit your criteria. A good realtor should be seen as an asset to a buyer. Having a realtor on your side that has local knowledge on your selected area and can give to information on questions you haven’t thought of to ask yet. To become a real estate agent in the U.S you have to pass an exam to attain a valid license. Many licensed real estate agents tend to join a real estate association local to them and subscribe to a higher code of ethics, this makes them a realtor.