YOUR AGENT
A successful purchase starts with the right agent to represent you.  Once you’ve selected your agent, it is likely that he or she may recommend other professionals to join your team, taking more of the responsibility off of your shoulders. Honolulu Real Estate agents already have the right professionals, ready to go!

YOUR LENDER (& Appraiser)
A bank is not just a bank. Having the right lender can be extremely important – it is your money we’re talking about, after all!   Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Your lender may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.  Your Honolulu Real Estate agent can recommend lenders with whom our team has had the best buyer-satisfaction experiences.

YOUR HOME INSPECTOR
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct a ‘surprise’ down the road. Ask your Honolulu Real Estate agent for Home Inspector recommendations.

YOUR CONTRACTOR
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some areas, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and your contractor will appreciate the advance notice.  Your Honolulu Real Estate agent can recommend contractors and handymen, with whom our team has had the best client-satisfaction feedback.

YOUR PLAN
1.  Find the right representative
Even if you’re not quite ready to buy, your Honolulu Real Estate buyer’s agent will be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your Honolulu Real Estate agent first, so he or she can help guide you, right from the start.

2.  Find out what your price range is
Your Honolulu Real Estate agent will pre-qualify you, not for a loan, but to correctly determine your price range.  Online mortgage calculators are also a good place to start, but as you get closer to being ready to buy, there is no substitute for a written pre-approval, from a lender.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and/or possibly renovate one).

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research. But, since the results that you get may be confusing, start with your Honolulu Real Estate agent – he or she can provide you with an analysis of the market and direct you to how to best use the most valuable resources. He or she can immediately start e-mailing you with property listings that may interest you (or at least give you a better idea, based on what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your Honolulu Real Estate agent. A frank discussion always leads to the best strategy!

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, some basic market knowledge, and your needs/wants list, call your Honolulu Real Estate agent, hit the pavement, and when you see ‘the right house’, put in an offer. 
With your experienced Honolulu Real Estate team beside you, it really can be that easy!
 
YOUR CALCULATOR:

This may help you see what you can afford! Our mortgage calculator will help you determine proposed monthly payments.
CLICK: Mortgage Calculator

 
THE BUYER’S SECRET WEAPON:
The Buyer's Representative Role

A real estate buyer's "Exclusive Representative" represents, works for, owes a fiduciary responsibility only to the buyer, and has contracted to uphold the buyer's best interests throughout the entire process of a real estate transaction.

When Donald Trump buys a luxury high rise, you don't think he goes it alone, do you? He's got a gaggle of lawyers going over contracts and advising him on these multi-million-dollar purchases, while he's busy having lunch with models.

You deserve the same. OK, perhaps you can't afford the models or a dream team, but it will pay off to have one agent firmly in your corner.

Of course, we assume all real estate agents are good-hearted folks who want to match you up with a good home at a good price. However, some buyers are not aware of legal technicalities about who is representing whom.

Traditionally, a real estate agent might work with the buyer, but he's not working for the buyer.
It goes like this: The seller hires an agent to list his house. It's this agent's job to find a buyer. Of course, he'd love to find a buyer himself and keep the whole commission. But to save time, the agent allows other agents to show the house and bring in buyers -- with the agreement to split the commission with the original agent. The agent who brings in the buyer, in the end, is a sub-agent of the person who was hired by the seller. Therefore, no agents are really working for the buyer. The buyer's bringing all the money to the table, yet no one's on his side!?

No one's saying that real estate agents lie about their loyalties, but there certainly has been a lot of misunderstanding over the years. In 1983, a Federal Trade Commission study revealed that 72 percent of home buyers mistakenly believed that the agent they contacted, who drove them around, represented them. Too often, buyers were under the impression their agent was THEIR agent, BUT, when a problem developed and the agent abandoned them, it was too late to know the truth!

Now, states have passed laws requiring real estate agents to disclose their actual client, and the definitions of "agency". As they have learned more, wise consumers are now demanding their own representation in real estate transactions.

The Buyer's Representative.
So, how's a buyer's representative different from any other real estate agent? Admittedly, they do look a lot alike. They get paid the same way: splitting the commission with the listing agent or seller's agent. And they perform a lot of the same duties, such as checking listings for homes that match the buyer's wish list and setting up visits to these properties.

However, from the start of a buyer's relationship with an agent, you should have a written agreement that states the agent is working for you, the buyer. Most Sellers already have an exclusive agreement with their agent, and so should you!

Why is this important? When an agent is under contract, he or she becomes a fiduciary, like a trustee or guardian with an allegiance only to the person he is representing. When the agent is a sub-agent of the seller's Realtor, that allegiance is to the seller. When an agent is truly working for the buyer, his loyalty and confidentiality and disclosure obligations are owed only to the buyer.

Paying the piper -- or the agent
A buyer's agent shares the commission with the seller's agent, so using a buyer's agent should never cost you more money. Generally there's no up-front fee."

On the flip side, the buyer's agent may not save you money either.

But you could save money on the home purchase, since the agent can advise on costly problems, undervalued assets and the negotiation process. The telecommunication company, Sprint, discovered that when a large group of their employees relocated to the Kansas City area, those who used a buyer's agent saved an average of 5 percent on the price of their homes. But don't go in expecting your buyer's agent to be a shark.

"Our job is not to steal someone a house, says Myron Freeman, Principal Broker of Honolulu Real Estate, LLC, . "Most good homes are going to go for market value, but we can usually get you that house and properly guide you through the steps."

Where the buyer's agent can really save you money is by making sure you aren't getting ripped off.
Even if the buyer's agent doesn't save you one red cent, they can save you a lot of headache and hassle just by helping you through the maze of paperwork, the likes of which, you won't see again ... until you buy another house.

The nitty gritty:
When you are ready to interview a buyer's agent, here are some questions to ask.
• Are you a full-time Realtor?
• Do you belong to the Multiple Listing Service?
• Are you willing to show me all properties that I qualify for, within my criteria?
• Are you familiar with the areas I specify?
• Who do you represent -- the buyer or seller? (The agent should be able to clearly explain the definitions of "agency", for Hawaii).
• How will you help me accomplish my goals?
• How many individual transactions have you, personally, closed, in the past 12 months?
• How are you paid?
• If I'm not happy with your performance, is there a way to get out of the contract?


THE BUYER REPRESENTIVE'S ROLE:
A real estate buyer's "Exclusive Representative" represents, works for, owes a fiduciary responsibility only to the buyer, and has contracted to uphold the buyer's best interests throughout the entire process of a real estate transaction.


AS YOUR EXCLUSIVE BUYER'S AGENT:
It is crucial that you be properly represented, from the time you start the search for your new home, to the end of the transaction.  As real estate Brokers, with 24+ years of experience, here are some of the services we provide, without cost to you, as your Honolulu Real Estate Exclusive Buyer's Agents:

·          We fully explain the different types of "agency" in real estate so that you understand representation and fiduciary responsibility, and why to avoid the pitfalls of so-called, "dual-agency" and other misconceptions.

·          We explain, in full, our responsibility to you as buyer’s agents and show you how our representation costs you nothing, but may save you a lot of money and hassle.  WE ARE PRICELESS!

·          We inform you of each area in Honolulu, regarding appreciation, plans for growth, schools, etc.  We disclose negative information to you.  We will give you facts, so that you can make informed decisions.

·          We give you our best recommendations as to local lenders, home inspectors, termite Inspectors, and other services you may need.

·          We absolutely maintain your confidentiality, throughout the entire process.

·          We will assist you in the qualification process with lender, if needed.

·          We will gather all your search criteria. – and create the strategy to begin the home-search process, on your behalf.

·          We will create an email-based home-search program, based on your criteria, that draws directly from tour MultipleListinstingService (MLS), and our own databases.

·          We will perform a comparable analysis of any property you are interested in, so that we can determine its fair market value.

·          We will disclose all the negative information we can find, regarding the property.

·          When you make your decision to purchase a particular home, we will help you negotiate the best price and conditions, and prepare the contract, while explaining all the contingencies the contract offers.

·          We will explain special terms, to tighten the contract and protect your interests.

·          We will provide a time-frame list, showing all the contract requirement dates, which must be met.

·          We will make sure you receive ALL documents required for the property.

·          We will guide you through the home inspection process and help you negotiate any major repairs that are needed.

·          We will work with the lender, escrow, and the title company, to ensure that the process is going smoothly and that all documents are received in a timely manner.

·          We will do a walk-through with you before closing, to make sure that any needed repairs have been completed, and that no damage has been done to the home since the contract was written.

·          We will get a copy of the Settlement (HUD) Statement before closing, to determine if all the numbers are correct, according to the contract.

·          We will attend closing with our file of all signed documents. We have never missed a closing, with our clients, in 24+ years!

The way we set ourselves apart from other Realtors®, is through integrity, knowledge, and superior service.   We are NOT salespeople.  We NEVER apply pressure tactics to encourage a quick sale. We work with you as long as it reasonably takes, providing information and guidance in order for you to make the most fully informed decisions.

We hope you decide to use us as your Exclusive Buyer's Agents.

We're all about YOUR best interests!

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