Question Of The Day: What Does A Real Estate Agent Do For A Buyer?
Buying a home is a major milestone. Whether it is your first family home or an investment property, it is a big financial step that should be taken with utmost care. Sure, you can buy a house without a real estate agent. But if you are a first-time homebuyer, you will certainly want the help of a real estate professional to get you through what could be a long and complex process.
So, what does a real estate agent do for a buyer?
The role of the realtor is to be your partner in helping you achieve your goals. Their job is to guide you through the process of going from buyer to happy homeowner.
Your agent should be aligned, not just with your goals, but with your unique situation. This includes your budget and your personal circumstances. This will allow them to give you truly valuable information like which neighborhood is school-age kid-friendly or which community is ideal if you have specific interests like golfing.
One of their main responsibilities is to look at active listings and give you a shortlist of homes that match your criteria. Your agent will also assist in scheduling viewing appointments. While you are looking at homes, they can provide an expert perspective to help you better assess your options.
They can also give you market data in your target community. This helps you manage expectations, and of course, your budget.
What Else Can My Agent Help Me With?
- Financing. Your agent will have access to a network of lenders who can help you get pre-approval. This is vastly different from a prequalification, and any agent worth their salt will recommend that you get pre-approved before you start looking at homes. Your agent can also advise you on other costs that you may not have factored into your budget. They should also be able to let you know if you are qualified for an exemption or tax breaks.
- Negotiation Process. An agent’s negotiating skills are a huge advantage in a competitive market. Your agent will assess the value of the home you are interested in vis-à-vis the selling price. They will advise you on what your initial offer should be. They can also help you with writing an offer letter if needed. These negotiating skills can also apply to other aspects of the process including a home inspection. Your agent will act as the middle person, making sure the seller addresses any serious repairs and keeping you from nitpicking the little things.
- Real Estate Closing. Closing a sale requires several steps that can easily confuse a novice buyer. Sometimes, it can take up to 60 days, depending on the property and the type of financing. The agent’s job is to tie all the loose ends so you can officially become a homeowner.
Benefits Of Having An Agent When Purchasing Real Estate
Buying a home is an exciting journey. It’s fun but it’s also complex and at times, even tedious. After the excitement wears off, it can be stressful, especially when things do not always go as planned. Having a professional to guide you every step of the way can significantly reduce the stress of navigating the ins and outs of any real estate market.
It is also a huge time saver. With an agent, you do not need to drive through neighborhoods or spend hours online looking at listings. Your agent can filter the options for you, and give you access to insider scoop from the Multiple Listing Service database.
Agents are also legally obliged to always work towards their client's best interests. There is a sense of accountability in a realtor-buyer relationship, but it should be built on trust and commitment.
Purchasing A Home With The Corcoran Connection
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