Since the seller typically covers all brokerage commissions as part of their closing costs, a Buyer’s Agent is effectively a free resource to the buyer when purchasing a home. As a Buyer’s Agent, I work diligently to help my clients find, offer and close on a home in the most effective and efficient way possible. In doing so, I typically assist my clients with the following:
Property Searches and Coordinating Showings
After sitting down with my clients to thoroughly understand their overall circumstances, goals and purchase criteria, I collaborate with them on a regular basis to help them find a home that best fits their needs. I also provide them with access to property search technology and set up listing alerts that are emailed to them on a frequent basis so that they can be aware of market opportunities as they occur. I also search independently via the web, monitor off-market listings, solicit colleagues and fellow brokers, and preview open houses to find homes that are a potential fit. To the extent my clients identify a property on their own through additional sources, I help them evaluate and act on those properties, coordinate showings and interact with the seller’s agent on my client’s behalf.
Providing Access to Market Data and Research
Market value is determined by many factors, including the availability of similar properties at competitive prices. Accordingly, it is important to evaluate a property in light of competing properties based on characteristics like size, location, condition, and price. As a Buyer’s Agent, I provide my clients interpret the relevant market data that guides and informs the initial offering price they choose.
Recommending Service Providers
During the course of a real estate transaction there are several professionals that are needed. When you’re buying a house you’ll potentially need a mortgage banker/broker, a home inspector, a real estate attorney, and a handful of other professionals. I make service provider recommendations to my clients that best suit their requirements based on my personal experience and the collective experience of my network of colleagues.
Imparting Market Knowledge
Whether you’re buying a house or apartment, chances are you don’t physically look at properties on a daily basis. As a Buyer’s Agent, I visit properties through Open Houses, Broker Open Houses, and client showings every week. I additionally keep track of market research on inventory, sales, prices and trading differences across neighborhoods and property types. In working with my clients, I use my property and market knowledge to help guide them on key things to look for that they might otherwise not see or consider.
Assisting with a Purchase Offer
There may be other considerations besides price that are equally important in structuring a purchase offer. Terms and conditions, deposit amounts, mortgage contingencies and possession dates are all likely to be important factors when making an offer. As a Buyer’s Agent, I assist my clients with the preparation of their purchase offer and guide them on all relevant considerations.
When a purchase offer is made, the seller may be concerned with certain aspects of the offer including the ability of the purchasers to fulfill their obligations, including financing, down payment, coop board approval when relevant and timely closing. As a Buyer’s Agent, I’ll help structure a negotiating strategy that best fits the circumstances, with a goal of achieving the best possible result for my client.
Managing Details and Providing Guidance Toward Closing
A lot needs to happen between signing the purchase offer and moving into a new house or apartment. Delays in real estate transactions inevitably happen, but this doesn’t mean they are acceptable or unavoidable. Transaction delays are frustrating to all parties involved, especially for a buyer and a seller. As a Buyer’s Agent, I attend to the details and keep my clients in touch with the transaction every step of the way so as to improve the chances of keeping everything on track and closing on schedule.
Sellers list their homes with real estate agents to ensure professional representation throughout the selling process. Buyers deserve the same kind of service. Since the cost of that service is covered by the Seller as part of their closing cost, there’s very little reason for a buyer to go unrepresented.