Buying a Home: What Your Buyer’s Agent Can Do for You
This content was originally published on October 23, 2017, and updated on June 16, 2021.
Purchasing a home is a major decision and more complex than many buyers realize. That’s why it’s essential to find a trusted professional—an Accredited Buyer’s Representative (ABR®)—to help you manage the process.
Here’s a partial list of everything they can do for you.
Help arrange financing.
- Assist in locating sources of mortgage loans.
- Help you examine how much you can afford and how much you may want to spend.
- Assist in comparing different financing options.
- Provide information on purchasing incentives that may be available.
- Educate and discuss the differences between being prequalified and preapproved for a mortgage.
Assist in finding the right property.
- Identify your needs and wants in a property.
- Find appropriate available properties.
- Set up an automated email alert system that immediately notifies you of properties that fit your requirements.
- Provide access to all MLS-listed properties.
- Network with other agents for properties not yet in the MLS.
- Preview properties before showing.
- Help select only those homes that fit your needs.
- Aid in narrowing your search until you have identified your top choices.
- Assist in analyzing the pros and cons of each property.
- Disclose all known material defects.
- Assist you in evaluating properties for suitability, affordability, and resale value.
Educate you on market conditions.
- Educate you on whether it is a buyer's market or a seller's market.
- Show statistics on what percentage of the list price sellers in the area are currently receiving.
- Show trends, current average days on market, current absorption rate, and/or current months of inventory.
Guide you through making an offer and represent you and your interests in negotiations.
- Prepare a comparative market analysis (CMA) so that you make an informed decision when offering a price.
- Advise you on what comparable properties are selling for.
- Explain common contract contingencies.
- Obtain appropriate seller disclosures.
- Prioritize your goals.
- Help create a negotiating strategy to achieve those goals.
- Write and present your offer.
- Ensure that you receive and understand all state and federally required disclosure forms.
- Handle the completion of the offer to purchase or sales contract.
- Educate you on the contents of the sales contract.
- Ensure that all appropriate additional forms are completed.
- Assist you in getting the best property at the best price with minor inconvenience based on current market conditions.
- Prepare you for various offer situations and develop negotiation strategies specific to multiple offers.
Get you to closing and serve as your trusted real estate resource.
- Recommend inspectors, lenders, attorneys, and other professionals as necessary.
- Be an advocate and advisor during the closing process.
- Review and discuss home inspection concerns.
- Help you request and negotiate seller repairs.
- Monitor and communicate required contract deadlines to ensure that you meet them.
- Assist in coordinating communications between the seller's agent, lender, attorneys, title company, appraiser, and other professionals.
- Accompany you on the walkthrough before closing to ensure the property is in the same condition as when you entered into the contract.
- Remain a lifelong trusted advisor regarding real estate questions, needs, or concerns.