What does a buyer's agent actually do? When a client asks that, we as Realtors need to have our response ready.
Here is MY response:
- The first thing I do is make sure that the person is prequalified. Most clients are NOT, so it is my job to assist them in finding a mortgage consultant that can meet their needs. If they are cash buyers, explain what I need for 'proof of funds'.
- We discuss their WANTS vs NEEDS when making the list of properties that are going to be considered. Once we know the price range, we need to find out what things they have to have in that home. It can be something like: it MUST be in a certain school district or it MUST have a three car garage and four bedrooms.
- The MLS search is presented to the client and together we narrow that down to decide on which homes to actually view.
- Showings take place and market analysis prepared. Once we have a home or a couple of homes in question for an offer, we view tax records, sale records, what permits were pulled and why. This is all important information before we make the initial offer.
- Negotiate the deal and the contingencies
- Handle escrow and getting necessary paperwork to the title company
- Be AT the inspection(s) and review the inspection report)s) with both the inspector AND the client
- Handle any warranties and anything that came up from the inspection(s)
- Remain in CONSTANT contact with the title company and mortgage person to make sure that we close on time without problems. Address any issues immediately and be sure client submits all paperwork regarding mortgage on time.
- Make sure appraisal and survey have been ordered at appropriate time
- ATTEND the closing!
- Thereafter I stay in monthly contact with my client to make sure I am not only there for any questions that arise later, but that they want to use me again and refer me to friends and family!
These are my list of things that are done as a Buyer's Agent here in the Sunshine State.