Knoxville First Time Buyers: Who Do You Hire First, A Realtor Or Loan Officer?

When you think about buying your first Knoxville home, who should you hire first? A realtor? Or, a loan officer?

You know that age-old question: What came first, the chicken or the egg?

This question is very much similar. You can’t have a chicken without an egg and you can’t have an egg without a chicken.

A realtor can lead you to a loan officer and a loan officer can lead you to a realtor. So, which are you better off hiring first? In this post, we’ll take a closer look at the answer to this age-old real estate question.

What You Get When You Hire A Realtor First

Oftentimes, buyers will contact a realtor first. Since a realtor is able to get a buyer into houses, this is often the first call a buyer will make, whether it is the list agent or another agent that a buyer has found.

Keep in mind, you want to find a realtor who works for you. It can be risky to always be contacting a the list agent when you find a house that you like. Many buyers forget that a list agent always represents a seller’s interests, so when you contact them to look at a house they have listed, you’re giving up your ability to have someone looking for you.

When you hire a buyer’s agent of your own, you hire someone who works for you. He or she is there to help you find the right home and watch out for your best interest. It can be helpful to hire a realtor first because they can make sure that you start your home search on the right foot.

Namely, they will probably recommend that you get pre-approved from the very start. If you’re not already pre-approved, they can help recommend a loan officer or two who can help you with that. This can be a very helpful referral because realtors often know what mortgage companies have a good reputation and which do not.

A realtor can help answer any of your questions at the start of your home search and make sure that you get started on your home search on the right foot.

The Benefits: referral to loan officer, start your search off on the right foot, get the direction you need.

What You Get When You Hire A Loan Officer First

There are also those buyers who start their home search off by finding their own loan officer. These buyers are often unsure about getting a mortgage or buying a home in the first place, this is why they are driven to the person who can tell them one way or another if they can buy a home.

Finding your own loan officer before you find a realtor is fine, too. A reputable loan officer can help lead you to find a realtor who is suited for your needs. Loan officers typically work with a few different agents on a regular basis, so they will know a realtor who will be fitting of what you’re looking for. It can be beneficial to work with a loan officer and realtor who work together on a regular basis, since things will go smoothly.

The Benefits: referral to a realtor partner, and you find out if you can get a mortgage.

So, Which Is Better?

There really is know right choice on who to hire first. They all have their benefits and it’s really which decision is right for you as a buyer. Some buyers need to find a realtor first and some need to find a lender first. Regardless, hiring one or the other sets you off on the right foot.

Buying your first Knoxville home is an exciting and overwhelming experience. If you’re like most first-time buyers, you may not be sure where to start. If there is anything we can do to help you in your home search, please do not hesitate to contact us. We’ve helped countless homeowners buy their first home and we’d love to do the same for you. Rick can be reached at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be reached at 865-696-1888 or via email at Kati@KnoxvilleHomeTeam.Com.

Are you ready to start your home search? Visit our home search page to get started today. Or, be sure to keep up with our Knoxville First Time Home Buyer’s Blog to keep up with the latest information about buying your first home.