The Buying Process.
What to Know When Buying a Home: A Step-by-Step Guide
Benton Real Estate Company, Inc., founded by Benjamin Benton, is an innovative Massachusetts-based "BOUTIQUE" style real estate brokerage that, in 2004 at inception, was the first to establish a virtual real estate office, setting a precedent for future digital advancements in the industry. Benton Real Estate Company, Inc., as the area’s top boutique style real estate firm, focuses on delivering seamless, smooth, and successful real estate transactions utilizing cutting edge systems, technological bandwidth coupled with consistent, time proven marketing strategies. These systems and technologies allow for Benton Real Estate to compete with the larger corporate real estate companies, while maintaining the service levels and personality of the "small town", "Mom and Pop" real estate brokerages of the past. The 23+ years of experience along with technologies of today, allow Benton Real Estate Company, Inc., to deliver un-paralleled service levels to our clients/customers, in both the residential and commercial real estate marketplace. Every agent at Benton Real Estate Company, Inc. is expected to provide superior service levels to all clients/customers in such areas as professionalism, care, obedience, accountability, dedication, loyalty, disclosure, and most importantly HONESTY! Place your confidence in us for all your real estate needs!
Brian McElhone
Phone: 413-563-0166
Email: SoldByBrianM@Gmail.com
Website: www.SoldByBrianM.com
1. Understand Your Budget: Getting Pre-Approved Before you start looking at homes, it’s essential to know how much you can afford. This means getting pre-approved for a mortgage. Pre-approval is an important step because it gives you a clear picture of your price range and shows sellers that you’re a serious buyer. (I can refer you to a mortgage lender)
2. Know Your Wants and Needs Understanding what you want in a home is crucial. Consider the following:
Location: What area are you interested in? Proximity to work, schools, amenities?
Home Style: Do you prefer a traditional, modern, or colonial style home?
Size: How many bedrooms and bathrooms do you need? How much square footage for both the living space and the lot?
Special Features: Do you need a large backyard, home office, or specific upgrades?
We’ll work together to make sure your needs and wants align with the available homes in the market.
3. Understand the Current Market The real estate market can vary, so it's important to know what's happening right now:
Average Days on Market: How long are homes sitting on the market before they sell? In a hot market, we might need to act fast.
List Prices: Are homes selling at, above, or below the list price? Some markets have multiple offers, meaning we may need to be competitive with our bids.
Negotiation Tactics: Will we have to move quickly to secure a home, or can we take our time? I’ll keep you informed on the best strategies for success.
4. Evaluate Each Home’s Value When looking at homes, I’ll help you assess their value. Important factors include:
Age of the Home: Older homes might require more maintenance or updates.
Renovations: Has the home been renovated recently? How does that impact its value?
Comparable Sales: We'll look at recent sales of similar homes in the area to see if the asking price is fair.
Major Systems: I’ll help you evaluate the age of major systems (roof, HVAC, plumbing) and help you factor those into your decision.
5. Understanding Commission There’s been a change in the way agents are compensated. Historically, the seller paid both the seller’s agent and the buyer’s agent commission. Now, the seller only pays the seller's agent. We will work this into the offer in one of three ways:
The seller may cover the buyer’s agent fee.
The seller may provide credit.
If the seller doesn’t agree to pay the buyer's agent fee, you may need to contribute toward that cost.
6. Buyer Representation Agreement Before we begin, we’ll sign a buyer representation agreement. Here’s what you need to know:
Length of Agreement: Typically, it’s a 6-month term until we close on your home, but this can be shorter if preferred.
Commission Fees: I’ll ensure my best efforts the seller covers the commission, or if that’s not possible, we’ll work together to find a solution.
If You’re Not Happy: If, at any point, you feel I’m not doing a good job, you can contact me to discuss canceling our agreement.
No Purchase, No Payment: If you don’t end up purchasing a home, you don’t owe me anything. My goal is to ensure you have the best possible experience.
7. Communication Is Key Throughout the buying process; I’ll keep you updated at every step. We’ll communicate in the way that works best for you—whether that’s text, email, or phone calls. After each showing, I’ll follow up with feedback and the next steps.
8. The Lifetime Value of Our Relationship I’m here to build a long-term relationship, not just to help you buy one home. If you have any questions after your purchase, feel free to reach out to me. I want to be your go-to resource for any future real estate needs.
Benton Real Estate Company Inc.
COMMUNITY SERVICE & DONATION LIST
Since inception in June of 2004, as a small local business, Benton Real Estate Company, Inc. has donated countless hours of volunteering and over $500,000 to local, state, and national charities, organizations, and hospitals.
• Jimmy Fund & Dana Faber Cancer Institute Sponsor
• Breast Cancer Awareness Walkathon-Baystate Health Systems Sponsor
• Brian Litz Memorial Scholarship Fund (Fallen Police Officer) Sponsor
• Rotary Club of West Springfield Member
• Big Brothers/Big Sisters Mentor
• Allocations Committee of the Community United Way of Pioneer Valley
• Berkshire Power Community Allocations Committee
• Curry College National Alumni Council Member
• Major Sponsor of The Shriner’s Annual Bike Run for Shriner’s Children’s Hospital
• Agawam Little League Sponsor
• Adopt a Platoon for US Service men and women serving in Iraq and Afghanistan
• American Cancer Society Sponsor
• MOAR Member
• Penguin Plunge of Westfield to benefit Westfield’s Children Museum
• Children’s Miracle Network sponsor
• Autism Speaks Walkathon Sponsor
• National Multiple Sclerosis Society Bike Tour Sponsor
• Chicopee Falls Tigers AC Full Count Over 16 Baseball team Sponsor
• Center School Longmeadow, MA PTO Golf Tournament
• Agawam Piranhas Youth Swimming Organization
• Agawam Diamond Dawgs Youth Travelling Baseball Team Major Sponsor
• Martini Manicure – A Breast Cancer Fundraising Event
• Wreaths Across America
• West Springfield Boys and Girls Club
• Heart Health Awareness Student Sponsorship
• Yule Tree Jubilee
• Many donations to various golf tournaments and fundraising events within WMASS
• SKG Charities Board Member
• Boys & Girls Club of Springfield – Annual Boys & Girls High School Basketball Event
• Member of the Melha Shriners for Children and Freemasons Organization for 5 years
• Tunnel To Towers Foundation
• Wounded Warrior Project
Brian McElhone
Phone: 413-563-0166
Email: SoldByBrianM@Gmail.com
www.SoldByBrianM.com
