What to Expect From Your Buyers Broker
September 7, 2011
As a buyer you come to expect certain things from your real estate agent but everyone has a different expectation. As a realtor myself and knowing what is really in the scope of the realtors expertise and due diligence I will give you some information on the subject.
As a buyer you do not pay your realtor any money either prior to or after a transaction, the seller or bank if it is a foreclosure or short sale pays all the realtor fees. This being the case, your realtor is still working for you but it is only fair to give the same courtesy to a realtor you work with as you would expect of a client of your own. Having a realtor drive you around for days on end and then buy a property with another agent or on your own is simply disrespectful and unfair to an agent that has worked hard for you. You would not want to work that hard for your boss and not get paid.
Your real estate agent should first make sure that you are pre-qualified with a good lender that you are able to qualify for the purchase of a home as well as how much home you can afford. Once you have done that then they should get a list of the criteria you want or must have in a home. Some of these things could be the size, area, number of bedrooms or bathrooms you need to have. They can then find all homes that meet your criteria and have you view them first on-line. You will then be able to narrow down your search based on the information on the listing as well as photos or virtual tours. You will also be able to get a satellite picture of the location and outside of the home. This will help you see if the home is in an area or on a lot that is within your guidelines.
Once you have narrowed down your search your agent will assist in you being able to view the homes you like. Is this really the biggest part of their job? This is not the most important part of the job that is for sure. Once you have chosen a property they will be writing up a legal contract with the specifications you have discussed with them. This will include price, close of escrow date, home warranties and title company. They are responsible for making sure the paperwork is in order and you understand what you are signing. Ask them questions if you do not understand, do not just arbitrarily sign the paperwork.
Once you are actually in contract and they have negotiated with the seller all aspects of the contract they will be assisting you with inspections, requesting and receiving repair work on the property. They will be sure all parties have the proper paperwork needed like the title company or lender that may be involved. They can help you keep track of any time sensitive dates which includes the inspection and those negotiations. They can but may not be able to be there when you sign the final paperwork at the title company. It is often difficult to arrange a time that is good for the title company, buyers and the realtor. The title work is handled by the title company and questions about that paperwork should be answered by the title company personnel. If you get questions answered on title paperwork from your realtor you need to understand this is not within the scope of their expertise.
Accounting and tax information is also something you need to get from experts in these fields and do not rely on your real estate agent to give out that type of information or you may receive information that is not valid.
Nancy Niblett is a highly successful Real Estate Agent specializing in the Chandler area. She credits her success to hard work, integrity and honesty. Clients continue to refer her over and over again. Nancy is one of the most successful award-winning agents and currently with West USA Revelation. She was awarded the top 50 Realtors in Phoenix by the Phoenix Business Journal for the past several years.
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