What Does a Buyer's Agent Do?

A buyer's agent is not required to buy a home. As the internet exploded, real estate became much more transparent; a huge benefit for buyers and sellers. As AI becomes entrenched, the idea that real estate agents will become obsolete has taken hold. While it’s true that a good 70% of agents are dangerously incompetent and would not be missed, AI will never replace a seasoned, skilled, buyer’s agent. Remember, if a buyer's agent is desired, a signed buyer brokerage agreement must be in place prior to agents showing homes. 

What Does a Buyer’s Agent Do?

Simply put, a skilled buyer's agent keeps you out of trouble. Purchasing a home is a series of milestones, all contribute to ultimate success. A skilled buyer’s agent provides a comprehensive road map for a home buyer. They bring order to what can quickly become chaos. This is a partial list of what a buyer's agent does; by no means is this all inclusive as every transaction is different. 

• Available. Be available virtually 24/7. By phone, text, email. Respond when contacted, be conscience of timelines, understand this is not a part time job.
• Define Success. Where is the home, what characteristics does it have, what are must haves, what is price range, what is the time frame?
• Financial Advice. Offer trusted mortgage experts to speak with, ensure all financing options are reviewed, determine a supported price range to target
• Prepare MLS Searches. Set up auto searches based upon desired criteria, establish agent networking for off MLS opportunities, encourage buyer to send anything appealing for review
• Review Listings. Desktop reviews on every potential home, review of functional and external influences, review of data and trends for the micromarket, review all disclosures and docs, speak with agent as needed
• Set Homes to Visit. Schedule physical inspections, highlight positive/negative features in the home, note buyer feedback of positive/negative features, debrief buyer after each field trip
• Research Potential Homes. Complete appraisal level analysis on appealing homes, present and review data with buyer, suggest courses of action
• Contract Prep. Prepare and review offer contract, negotiate and manage, advise buyer with supported data, counter offer as needed, handle offer thru conclusion
• Contract management. Review “next steps” with buyer, work with mortgage company, work with buyer through inspection, appraisal, closing attorney, and all contract aspects
• Closing. Work with closing attorney, ensure contract accuracy, review closing documents, conduct preclosing walkthrough, ensure completion of property transfer
• New Construction. Different role but NEVER go into a new build unrepresented, see why.

Experienced agents understand how to leverage all of the resources available, they also understand that there is an abundance of misinformation out there. The key is to note what’s reliable, what’s applicable and how to utilize it. The idea that “you don’t need an agent” is understandable, but foolhardy. This especially true for first time buyers or those that think "I'll let the listing agent handle it"; you don't know what you don't know. The key is to research your agent. Spend a few minutes on Google, ask questions, read reviews and treat buying a home like the major business transaction that it is.

Real estate is easy until it’s not, it takes a significant amount of work to make a transaction look boring. When things go wrong they do so in very expensive and emotionally draining ways. Do your part as a buyer and ensure that you properly qualify every agent and work only with professionals. Be certain to visit our ADVICE PAGE for all of the latest blog posts broken out by category...