This post was inspired, in part by Neal Bloom's post entitled Our Realtor Left Us at the Closing Table in which Neal describes a transaction where the buyer agent had not shown up at the closing and in fact had not provided much service at all to the buyers.
Here is what you should expect from your buyer agent (in no particular order):
100% loyalty to the buyer's interests at all times throughout every stage of the transaction- Prompt response to phone calls and emails - before, during and after representation
- Explanation/discussion prior to the home search of what to expect during a home search and what services the buyer agent will provide to the buyer
- Explanation of cost to buyer, if any
- Assistance with mortgage preapproval - whether that means referral to a qualified mortgage lender or assistance with answering questions about the mortgage preapproval process
- Showing properties that the buyer requests or that the agent recommends would fit within the criteria that the buyer is looking for
- Disclosure and discussion about the property and its characteristics even if it means that the buyer decides not to purchase the property
- Discussion regarding Home Owner's Association (if any) and clarification on what obligations & restrictions it places on the home owner. (added courtesy of Chris Miller, #4 below)
- Advice and consultation on negotiation strategy
- Advice on offer price based on current market conditions and sold comparable properties
- Negotiation of offer on buyer's behalf to get the best price possible for the buyer
- Referral to licensed home inspector or list of licensed home inspectors
- Attendance at home inspection
- Negotiation of issues raised at home inspection - whether it be a request for repairs or re-negotiation of price
- Assistance with meeting requests of the lender during the loan approval process
- Coordination and communication with the lender to insure that mortgage contingency deadlines are met
- Explanation of the closing process and what to expect
- Information regarding service providers (gas, electric, cable, etc.) so that the buyer can make necessary arrangments prior to move
- Referral to other professionals as needed - insurance agent, attorney, mover, etc.
- Coordination and communication with the listing agent and closing attorney to schedule the closing and meet the closing deadline
- Scheduling and attending the walk through prior to closing
- Attendance at the closing and assistance, if necessary, with issues that come up at or prior to closing
If you are considering buying a home in Canton MA or a surrounding town, you will get all of the above and more from your Canton MA Buyer Broker with absolutely no conflicts of interest. There is no cost at all to buyers to use the services of Buyers Brokers Only, LLC.
**Closing practices differ from state to state. Reference to closing practices in this article assumes a Massachusetts closing.**
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