Why You Need A Real Estate Agent When Buying A Home

Dated: May 2 2024

Views: 20368

The job of a real estate agent is to help buyers and sellers navigate the complexities of a real estate transaction. Their goal is to insure that real estate transactions close with their client’s best interests in mind while complying with all the laws and regulations.

Here are just a few of the ways agents add value.

Provide expert local knowledge. Agents help buyers understand current market trends, such as, how quickly homes are selling, so buyers can make a confident buying decision.

Identify the buyer’s needs and expectations. The agent gathers information about the buyer’s timeframe for moving, preferences for features in the home they hope to purchase, details of how their purchase will be funded, and the price range that fits their needs. The agent then identifies properties that fit these criteria by searching listings in the MLS and on the internet, connecting with past clients who may have a home to sell, and networking with other agents about their upcoming listings.

Present homes listed for sale. The agent arranges access to the homes that interest the buyer. During the showing appointment, the agent and buyer discuss information about features of the home, the location and the neighborhood.

Obtain follow up information. The agent provides feedback to the listing agent, gets updated information about showings and contract activity, and gathers additional details to address the buyer’s questions about the home.

Prepare offers. When the buyer is ready to write an offer to purchase a home, the agent researches recent sales of similar homes to establish market value. Agents explain the necessary disclosures and documents signed during the contract preparation process. The agent assists the buyer in determining an offer price, as well as contract terms, such as, contingencies involving inspections, financing, closing, occupancy and the sale of buyer’s current home.

Negotiate contract terms. If the seller does not accept the offer, they may respond with a counter offer. The agent assists the buyer in evaluating the terms of the counter proposal, and negotiates on the buyer’s behalf until both parties reach an agreement.

Manage transaction details. Once the offer is accepted, the buyer’s agent oversees the satisfactory completion of all contingencies in the contract, including the title review, obtaining acceptable insurance for the home, delivery of any information that the seller has agreed to provide, and completion of the loan approval process.

Negotiate inspection issues. If the accepted contract includes a contingency for a home inspection, the buyer is encouraged to attend. The agent then assists the buyer in crafting a notice of objections to address issues in the inspection report concerning unacceptable property conditions.

Review closing figures. The title company and lender will compile the final settlement figures, which the agent will review with the buyer. The agent will also confirm that the buyer has received instructions for delivery of funds for closing.

Schedule and attend the final walkthrough. Prior to closing, the agent and buyer will complete a walkthrough of the home to make sure any repairs have been completed and the condition of the home is as agreed in the contract documents.

Attend closing. The agent assists the buyer with questions, oversees the exchange of keys to the home, confirms the mailbox location, and celebrates the buyer’s new home purchase!

Bottom Line

Every time you make a big decision in your life, especially a financial one, you need an expert on your side. Contact me today to discuss your next purchase, and how I can help you every step of the way!

Sources: www.redfin.com,

www.keepingcurrentmatters.com

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