What Does A Buyers Agent Do For Their Client?

What Does A Buyers Agent Do For Their Client?

Scottsdale Homes for SaleI can’t speak for all agents I can only tell you what I do. Buyer agency is an art form and not all agents are cut out for it. A Buyers Agent owes a fiduciary responsibility to their client, in other words loyalty, obedience and full disclosure. In a way it’s matchmaking, finding someone you’re comfortable with… someone who genuinely enjoys helping you, the buyer, get what you want. Sounds easy enough, but if it was that easy, everyone would do it well.

So what’s the first step? Well, unless a buyer has cash, they will need financing. If a buyer doesn’t have a Pre-Qualification Letter, (from a mortgage professional), stating the amount they are pre-qualified to borrow they will need one. Without it sellers won’t take them seriously. If a buyer doesn’t already have a Mortgage Consultant I can recommend several excellent local professionals.

The next step is determining what a buyer wants and why they want what they want. Determining why they want what they want is the secret to a smooth and successful search. The whys help the Buyers Agent differentiate between wants and deal breaking needs.

Once I have a good idea of what the buyer wants, and why, I set them up with their own personal web site that feeds real time MLS listings, (narrowed to the price, style, neighborhood, size and amenities that we’ve agreed upon) directly to their computer.

The buyer can then select the homes they would like to visit in person including properties that I may have found by networking with agents from other brokerages. Sometimes agents may have a listing that is not yet on the MLS.

We continue to refine the buyers search parameters as we begin to visit homes in person. This makes searching for properties much more effective and saves a tremendous amount of time and frustration.

Once we find the right property it’s time to write a contract. But before that happens I consult with the buyer and we agree upon all facets of the contract based upon several factors including:

  • How do selling prices in the neighborhood compare to the listing price of this property?
  • How many days has this property been on the market?
  • Is this a Lender Owned, a Short Sale or a Traditional listing?
  • How motivated is the seller?
  • Is the neighborhood home supply going up or down?

Once we’ve consulted I prepare the contract and deliver it to the sellers’ agent.

If there is a counter offer I work with the buyer and the sellers’ agent to fairly negotiate any differences between the original contract and the counter offer.

Once the contract has been accepted I coordinate all the activities that lead to closing including:

  • Inspections
  • Repairs
  • Home Warranty

I handle any complications that occur throughout the buying process from before the contract to after the close of escrow including the signing of the loan documents at the title office.

Upon close of escrow it is my very real pleasure to hand you the keys to your new home.

After closing  I make it a point of pride to be available to all of my clients as a continuing resource.

If you are interested in buying a home in the Phoenix Metro area I would sincerely appreciate the opportunity to represent you.