What Does A Real Estate Agent Do For A Buyer?
Question Of The Day: What Does A Real Estate Agent Do For A Buyer?
Buying a home is a major milestone. Whether it is your first family home or an investment property, it is a big financial step that should be taken with utmost care. Sure, you can buy a house without a real estate agent. But if you are a first-time home buyer, you will certainly want the help of a real estate professional to get you through what could be a long and complex process.
So, what does a real estate agent do for a buyer?
The role of the realtor is to be your partner in helping youachieve your goals. Their job is to guide you through the processof going from buyer to happy homeowner.
Your agent should be aligned, not just with your goals, but withyour unique situation. This includes your budget and your personalcircumstances. This will allow them to give you truly valuableinformation like which neighborhood is school-age kid-friendly orwhich community is ideal if you have specific interests likegolfing.
One of their main responsibilities is to look at active listingsand give you a shortlist of homes that match your criteria. Youragent will also assist in scheduling viewing appointments. Whileyou are looking at homes, they can provide an expert perspective tohelp you better assess your options.
They can also give you market data in your target community.This helps you manage expectations, and of course, your budget.
What Else Can My Agent Help Me With?
- Financing. Youragent will have access to a network of lenders who can help you getpre-approval. This is vastly different from a prequalification, andany agent worth their salt will recommend that you get pre-approvedbefore you start looking at homes. Your agent can also adviseyou on other costs that you may not have factored into your budget.They should also be able to let you know if you are qualified foran exemption or tax breaks.
- NegotiationProcess. An agent’s negotiating skills are a hugeadvantage in a competitive market. Your agent will assess the valueof the home you are interested in vis-à-vis the sellingprice. They will advise you on what your initial offer should be.They can also help you with writing an offer letter if needed.These negotiating skills can also apply to other aspects of theprocess including a home inspection. Your agent will act as themiddle person, making sure the seller addresses any serious repairsand keeping you from nitpicking the little things.
- Real EstateClosing. Closing a sale requires several steps that caneasily confuse a novice buyer. Sometimes, it can take up to 60days, depending on the property and the type of financing. Theagent’s job is to tie all the loose ends so you canofficially become a homeowner.
Benefits Of Having An Agent When Purchasing RealEstate
Buying a home is an exciting journey. It’s fun butit’s also complex and at times, even tedious. After theexcitement wears off, it can be stressful, especially when thingsdo not always go as planned. Having a professional to guide youevery step of the way can significantly reduce the stress ofnavigating the ins and outs of any real estate market.
It is also a huge time saver. With an agent, you do not need todrive through neighborhoods or spend hours online looking atlistings. Your agent can filter the options for you, and give youaccess to insider scoop from the Multiple Listing Servicedatabase.
Agents are also legally obliged to always work towards theirclient's best interests. There is a sense ofaccountability in a realtor-buyer relationship, but it should bebuilt on trust and commitment.
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