Who Is Involved in Buying or Selling a Home in Oklahoma City?

Buying or selling a home can sometimes feel like there are a lot of people involved — because there are.

A real estate transaction is a team effort, and each professional plays a different role in helping move the transaction from the first conversation all the way to closing.

As a full-time real estate broker serving the Oklahoma City Metro, part of my job is to help keep those moving pieces organized, communicate with the professionals involved and make sure my clients understand what is happening throughout the process.

The Listing Agent

The listing agent represents the seller.

A listing agent may help with:

• Preparing the home for the market
• Reviewing comparable sales and market conditions
• Developing a pricing strategy
• Coordinating professional photography and marketing
• Listing the property in the Multiple Listing Service
• Managing showing activity
• Communicating with prospective buyers and agents
• Presenting offers
• Assisting with negotiations
• Monitoring contract deadlines
• Helping guide the transaction through closing

A good listing broker also keeps the seller informed so there are fewer surprises along the way.

The Buyer’s Agent

The buyer’s agent represents the buyer during the home-buying process.

A buyer’s agent may help:

• Identify available homes
• Review property information
• Evaluate comparable sales and market conditions
• Prepare and present offers
• Explain contract terms and deadlines
• Coordinate inspections
• Assist with negotiations
• Communicate with the lender and title company
• Guide the buyer from contract through closing

Before my buyers ever make an offer, I also like to run the numbers with them.

We can look at the purchase price, estimated financing, potential closing costs and relevant market information so they have a clearer picture before committing to an offer.

That extra step can provide greater confidence and peace of mind.

The Mortgage Lender and Lending Team

If financing is involved, the mortgage lender plays an important role.

The lender and their team may help with:

• Mortgage preapproval
• Loan-program options
• Interest-rate information
• Required financial documentation
• Loan underwriting
• Appraisal requirements
• Final loan approval
• Funding at closing

Strong communication between the buyer, lender and real estate broker can be extremely important, especially when contract deadlines are approaching.

The Title Company

The title company helps coordinate the legal transfer of ownership from seller to buyer.

Depending on the transaction, the title company may handle:

• Title searches
• Escrowed funds
• Closing documents
• Title insurance
• Mortgage payoff information
• Recording documents
• Final disbursement of funds

The title company is a key part of getting the transaction safely across the finish line.

Home Inspector and Pest Inspector

A home inspector evaluates many of the visible and accessible components of a home and provides the buyer with information about the property’s condition.

A pest or wood-destroying insect inspector looks for evidence of termites or other qualifying wood-destroying organisms when that type of inspection is requested or required.

The Appraiser

When financing requires an appraisal, a licensed appraiser develops an independent opinion of the property’s value for the lender.

An appraisal is different from a home inspection.

The appraiser is primarily evaluating value and property characteristics, while the home inspector is evaluating the home’s condition.

Other Contractors and Specialists

Sometimes a home needs a closer look from a specialist.

Depending on the property and inspection findings, additional professionals may include:

• Roofers
• Foundation specialists
• Plumbers
• Electricians
• HVAC contractors
• Structural engineers
• Septic or well professionals
• Chimney specialists
• General contractors

These professionals can provide additional evaluations, recommendations or repair estimates when needed.

Why a Responsive, Full-Time Real Estate Broker Matters

Real estate does not always happen between 9 and 5.

A new listing may hit the market in the evening. An offer may require a quick response. An inspection issue may come up unexpectedly. A lender or title company may need information before a deadline.

That is why responsiveness matters.

As a full-time Oklahoma City Metro real estate broker, I believe my clients should know they have someone actively monitoring their transaction, answering questions and communicating with the other professionals involved.

You should never feel like you are trying to coordinate your home purchase or sale by yourself.

Ready to Buy or Sell in the Oklahoma City Metro?

If you are considering buying or selling a home in Oklahoma City, Edmond, Moore, Norman, Mustang, Yukon, Choctaw or the surrounding metro area, I would be happy to help you understand the process and your options before you make your next move.

Babs Lewis | Oklahoma City Metro Real Estate Broker