We get these questions a lot. Here are our best answers to the Texas real estate FAQs.

How do I choose a Realtor?

There’s no substitute for referrals from friends and relatives to find a qualified, trustworthy Realtor®. The second best is independent research. Always talk to the agent and do a “gut check” before deciding who you want to guide you through buying or selling a home.

Should I call the name on the sign to see a house?

Only if you are NOT working with a buyer’s agent.  Always let your buyer’s agent know about a property you’re interested in seeing so they can do the research and schedule to show you the home. If you DO NOT have a buyer’s agent, by all means, call the name on the sign and ask for a showing. Understand that the agent works for the seller.

What is MLS?

Multiple Listing Services (MLS) is a tool that helps listing agents find buyer agents to help sell their clients’ homes. Without the MLS, every real estate company would have to create a separate system, scattering information and making buying and selling much more difficult. 

Small vs Big Box – Real Estate Firm

Smaller, Independent firms are often called Boutiques, specializing in the local area. Larger firms are often franchises with global reach. There are benefits to both. Understand that regardless of the firm’s size, you will pick the one agent to be your advisor, and that’s your most important connection.

How much home can I afford?

Getting prequalified for a mortgage is a key first step. The lender can give you an idea of how much you can borrow based on your financials, how much you’ll need to bring to the table at closing, and your approximate monthly payment. You’ve got your answer if these numbers are within your comfort zone. 

How do I know which houses to see?

Your agent should take the lead on finding the right homes for you to see, but most buyers want to participate in the process. So your agent can set up a personalized search that sends property updates to your inbox. It’s a joint effort – not an Easter Egg Hunt. Once you find “the one”, the hard work begins.

How do I make an offer on a property?

Your agent will share market data, giving you a clear picture of what kind of offer to make. Texas has dozens of contract forms that your Realtors® can use to make the offer on your behalf.

What is escrow?

In Texas real estate transactions, escrow refers to a third party (usually a title company) holding money on behalf of the buyers and sellers from the time of contract to closing.

What is an Option Period

An Option Period is the time during which the buyer must perform property inspections and withdraw from the contract without defaulting. There are several important steps, so consult your Realtor®.

Can my dad do the inspection?

Yes, if he’s a Professional Real Estate Inspector licensed by the State of Texas. 

How Does a Real Estate Agent Get Paid?

Like all professional services, real estate agents do not work for free. Based on its business decisions, each brokerage independently determines the services it will provide and the fees it will charge. The Texas Real Estate Commission says this about Broker Commissions.

Real Estate Questions? We have Answers!

We know what we’re doing, and we’re here to help.- North Point Realty