What does a buyer agent do?
“We appreciate you have always been there for us as we’ve worked thru the house hunting process.”
Those were words by a client who is looking to purchase a smaller place with her husband. They are looking for no stairs, as where they are now has stairs and they are not as able-bodied as they used to be. They’re wonderful people though, kind and thoughtful, and I enjoy all our conversations while we look at properties.
I met them both at an open house for my listing. They lived 5 minutes away in a townhouse with stairs, and they were sure getting tired of those stairs. My open house listing was a ranch.
We had a good long chat about the market and about how expensive homes have gotten. I asked them if I could keep in touch, and they were glad to give me their contact info. I’ve stayed in touch and shown them a property every few months.
That was a year and a half ago.
They haven’t bought a house yet. Perhaps they never will. But that is part of what a buyer agent does for a buyer. I also have a buyer under contract on home, and I’ve been talking to them and giving them help for 2.5 years before that. Sometimes it takes time!
The buyers in the picture above are first-time homebuyers that I helped purchase a home in downtown Colorado Springs. They’re so happy, and I’m happy for them!
On top of their job, buyer agents develop real relationships with people, make friends, educate them on the local real estate market, and connect them with trusted contractors when they need them. How else is anyone going to know who you are and what you do?
What does a buyer agent do for a buyer:
- Tour Homes and Neighborhoods: Beyond just showing homes, real estate buyer agents offer insights into the neighborhood’s lifestyle, including schools, local parks, businesses, and community events. They can highlight unseen value or potential drawbacks that aren’t obvious online.
- Navigating and Scheduling Inspections: Agents have connections with reputable home inspectors and can help interpret inspection reports, advising on which issues are major and which can be easily fixed.
- Coordinating with Lenders and Escrow: Agents ensure smooth communication between lenders, escrow companies, and other parties, helping to avoid delays and misunderstandings.
- Negotiating Price: They don’t just negotiate the selling price; they also negotiate repair credits and closing costs, potentially saving thousands of dollars.
- Providing Emotional Support: Buying a home can be stressful. Agents offer reassurance, keeping clients focused on the important issues and helping them make informed decisions.
- Coordinating Closing Documents: They ensure all paperwork is in order, deadlines are met, and the closing process runs smoothly.
- Educating About the Transaction Process: Agents demystify complex real estate terms and processes, making it easier for buyers to understand what’s happening at each step.
- Meeting Deadlines: They keep the transaction on track, ensuring contingencies are met on time, which is crucial for a successful closing.
- Being On-Call Advisors: Real estate agents are ready to answer questions at any time, providing peace of mind to buyers throughout the process.
- Providing Special Knowledge: They offer insights into the local real estate market, from pricing trends to demand dynamics, helping buyers make informed offers.
- Deciphering Documents: Agents help make sense of complex documents, including title reports and disclosures, protecting clients from potential issues.
- Local Market Insights: They have a deep understanding of the local market, which can be crucial for making a competitive offer on a home.
- Financial Benefits: Statistics show that sellers who use a broker often sell their home for more. While for buyers, a skilled agent can negotiate price reductions, closing costs, and home warranties that far exceed the cost of their commission.
The Added Benefit of being a REALTOR®
REALTORS® adhere to a strict code of ethics and have access to comprehensive market data and resources. Working with a REALTOR® means getting expert advice and protection throughout the buying process. They ensure clients make well-informed decisions, potentially saving time and money.
By choosing to work with a REALTOR®, clients benefit from a professional who is committed to their best interests, offering a level of assurance and efficiency that is difficult to achieve independently. Highlight these points in your video to clearly communicate the extensive benefits and value that a real estate agent brings to the home buying process.
What Does A Buyer Agent Do: Duties to The Buyer
What does a buyer agent do for you:
Your Buyer Agent’s Responsibilities:
- Skilled and Careful Help: Your agent is like a superhero for house buying. They’ll stick to their promises, make sure all offers are shown to you quickly, let you know if there are any big issues with a property, give you solid advice, and keep you in the loop about any money matters.
- Protecting Your Secrets: Just like a best friend, your agent won’t spill the beans. They won’t tell anyone if you’re willing to pay more, why you really want to buy, or any other personal details unless it’s absolutely necessary.
- Sharing Info Carefully: If they need to, your agent might share some of your personal info with their boss to make sure they’re doing the best job for you. Your information stays private with myself and my office.
- Fair Play: Your agent might show the same house to other buyers, but that doesn’t mean they’re not on your side. They’re just trying to help everyone find their perfect home.
- Focus on the Goal: If you’ve already put an offer on a house, your agent isn’t required to keep searching for more. They’re focusing on getting you that dream home.
- No House Inspections by the Agent: Your agent won’t check the house for issues themselves, but they’ll help you find someone who does. They’re all about honesty and making sure you know exactly what you’re getting.
- Honesty is Key: Your agent must disclose to the seller if you become unable to finance the property, and whether you are occupying the property as your primary residence or not.
- Only You Can Approve What Your Agent Does: If they haven’t checked with you, they can’t just go and do something on your behalf.
Extra Special Things Your Buyer’s Agent Does:
- Your Representative: They’re all about what’s best for you, getting you a great deal, and making sure you’re happy.
- Price Hunter: They’ve got your back, aiming to get a price and terms that make you smile.
- Risk Advisor: If there’s something you need to know about a deal, they’re there to tell you, good or bad.
Your buyer’s agent is essentially your guide, guardian, and advisor all rolled into one, making sure you’re informed, protected, and satisfied throughout the journey to your new home.
The Bottom Line
When people ask what does a buyer agent do, here are the most important things buyers want in a buyer agent:
- Negotiating with the seller
- Writing offers
- Finding a home inspector and scheduling the home inspection
- Being there during the final walkthrough
- Sending active homes on the market to the buyer
- Scheduling showings
- Deciding what price to offer
- Helping decide which homes are best for the buyer
- Providing information on down payments
- Explaining and advising on disclosures and other documents
- Finding a mortgage lender
- Helping buyer discover neighborhoods and areas they might like
- Being there at closing
Working with a real estate buyer agent means getting expert advice and protection throughout the buying process. They ensure clients make well-informed decisions, potentially saving time and money. Agents provide invaluable insights on market trends, helping you make informed decisions. They’re expert negotiators, ensuring you get the best price, whether buying or selling.
Working with a buyer agent who is also a REALTOR® is also to your benefit. REALTORS® adhere to a strict code of ethics above and beyond the state licensing rules.
By choosing to work with a real estate agent, clients benefit from a professional who is committed to their best interests, offering a level of assurance and efficiency that is difficult to achieve independently. A real estate agent isn’t required, and some don’t use one. Many people however are grateful for the expertise of a good agent and are happy to use one for their home purchase.
Buying or selling a home can be emotional. Your agent is there to support you every step of the way.
If you are looking for a real estate buyer agent in Colorado Springs, please get in touch with me. I’m happy to assist you!