What does a buyers agent do and why do I need one
What to expect when you hire me as your buyer broker. I certainly do more than just open doors and drive
around. A lot of people do not realize that as a buyers agent you are really juggling a lot of balls in the air to coordinate, negotiate and bring the deal to a close.
My fiduciary duty is to look out for the buyer. Buyers need to realize that they are the ones who benefit from hiring a buyers agent to represent them. The listing agent has the fiduciary duty to the seller, not the buyer. Remember the old saying, buyer beware...... (always have an agent represent you and only you)
Below is a very brief overview of my major steps during a home purchase. As we all know each and every transaction is different and no two buyers, sellers or homes have the same issues. There is no way to put a complete list together without it looking like the action booksI used to read in about4th grade: you remember the books that you had options on all the way thru,,,, if you want to open this door go to page 53 if not continue reading... you get my point.
Overview of Steps Necessary in 99% of the transactions:
- Initial interview to find out more about buyers situation
- buyers must get a preapproval and meet with lender
- once you have a preapproval letter we go over letter the letter and conditions
- Review of initial buyer interview, review of what you are looking for and why you are moving. check to see if anything has changed since meeting with the lender
- types of homes available (HUD, short sales, foreclosures, fsbo etc)
- types of sellers (short sales, foreclosures, HUD, FSBO, etc)
- how fast the market is moving based on what your looking for and qualify for
- a brief overview of the forms and what to expect paperwork wise
- paperwork sent over email, or delivered to buyer recapping again what to expect, the process of buying a home, the do's and don't when it comes to buying a home these get initialed and added to my file
- search for homes, not only on MLS but zillow, fsbo sites, local papers, nod's: schedule appointments and research any initial red flags
- farming for additional homes if inventory is low
- viewing of homes
- cma of home you want to purchase
- sit down and explain in detail the legal documents you are signing and what they involve
- negotiate offer
once under contract
- order title work
- contact lender
- constant contact with all parties regarding deadlines and legal items
- home inspector and due diligence items
- attend inspection
- meet to go over report
- negotiate
- keep in constant contact with lender about deadlines and issues
- appraisal issues if any
- walk thru
- settlement
- possession details
My goal is to help the buyer achieve their dream and to eliminate any unnessary stress and drama. As a neutral party i am able to step away and look at the process thru what legally can and can not happen. Realtors are able to do this without the high level emotion of a buyer or seller may bring if they were dealing directly with one another. Selling and Purchasing Real Estate is one of the biggest /stressful investments many of us will ever do in our lifetime. It is a legally binding agreement and a lot more complicated than the DIY networks make it seem. Always consult a professional when selling or purchasing real estate.
***I'm thinking I should print this and keep it with me the next time I have someone ask me what I do for my money.
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