THE VALUE OF A BUYER’S AGENT
BUYING A HOME IS A SIGNIFICANT JOURNEY, AND A REAL ESTATE PROFESSIONAL CAN PLAY A VITAL ROLE IN GUIDING A BUYER THROUGH THIS PROCESS.
While there are hundreds of behind the scenes tasks a great agent accomplishes for their client, this brochure details the top 21 essential and indispensable services a professional buyer’s agent provides. These services not only deliver outstanding value to the buyer, but also protect their interests and ensure the home buying experience is smooth and successful.
1.
DISCOVERY SESSION:
A great agent will help identify a buyer’s housing needs, wants, hopes, dreams and financial capacity, crafting a detailed strategy and timeline to accomplish the goal of finding and closing on the right home that serves the buyer’s shortterm interests and long-term goals.
2.
HOME SEARCH AND SHOWINGS:
Assist in finding homes and land across different geographies, including new construction or custom homes, and scheduling showings to explore neighborhoods, schools, and amenities, while refining the purchase strategy based on buyer’s refinement and feedback.
3.
BACKUP OFFERS:
20% of contracts are unsuccessful and properties end up being relisted for sale. A great buyer’s agent remains proactive in communication with listing agents of homes buyer may have liked but missed out on, enhancing the buyer’s first opportunity to buy before the home hits the market a second time.
4.
MARKET ANALYSIS:
Conduct a comprehensive market analysis to evaluate a home’s value relative to condition, location, market trends, interest rates and the asking price, shaping informed offer strategies.
5.
TAX ASSESSMENT:
Evaluate and inform buyer of the financial implications of metro districts and special taxation districts.
6.
INCLUSIONS AND EXCLUSIONS:
A seller will list items that are proposed inclusions and exclusions with the marketing of each home for sale. We approach writing each contract with that knowledge in hand, while knowing that everything is negotiable. We may ask for valuable excluded items to be included with the purchase.
7.
SELLER’S MOTIVATIONS:
Engage with the listing agent to uncover seller priorities, crafting an attractive offer that meets these needs while ensuring buyer’s core requirements are not compromised. While price is always important, it may be that closing date, rent back, appraisal gap language, strength of lending or inspection assurances are of equal or greater value to the seller.
8.
OFFER CRAFTING:
Crafting a winning offer is a blend of art and science, aiming to make a strong impression on the seller and their agent. Our approach includes a well-prepared presentation package. This package includes proactive communication to the listing agent from the lender and me, a cover letter that highlights key aspects of the offer and details my resume and experience, and your lender’s letter, reinforcing your strength as a buyer. Whether we are in a competitive situation or not, we want you in as strong a negotiating position as possible. The offer itself is carefully formulated, attractive in price, while thoughtfully considering often overlooked but critical characteristics such as dates and deadlines, and appraisal and inspection clauses, closing and occupancy dates, among other factors important to the seller, all while safeguarding your interests.
9.
ONGOING NEGOTIATION
OPPORTUNITIES:
Identify and leverage negotiation moments after contract signing, focusing on property condition, repairs, appraisal issues, and other seller-related challenges.
10.
PROFESSIONAL NETWORK:
Utilize a network of trusted professionals, such as inspectors, lenders, and various contractors, to identify and address potential property issues, such as structural, sewer, roof, electrical, plumbing, drainage and others.
11.
INSPECTIONS AND
RESOLUTION COORDINATION:
Educate and guide buyer through the home inspection process. Investigate costs of repairs based on all inspection results and negotiate repairs with seller, ensuring all agreed upon work is completed with excellence.
12. HOME WARRANTY NEGOTIATION:
Evaluate and negotiate the purchase of a home warranty, considering the age and condition of the home, the appliances and heating and cooling systems.
13.
DISCLOSURE REVIEW:
Examine all property disclosures meticulously to confirm the condition of the property and title.
14.
ZONING AND HOA COMPLIANCE:
Navigate zoning laws and HOA restrictions, understanding their implications on property use and the potential impact on resale value.
15.
EARNEST MONEY
PROTECTION:
Ensure adherence to contract terms, protecting buyer’s earnest money and maintaining rights to object to unsatisfactory finance, disclosure or home condition, including property condition at final walk through.
16.
APPRAISAL ISSUES:
A buyer’s rights are dictated by the original contract terms when appraisal issues arise. As directed by buyer, I will help facilitate a renegotiation of price, terminate the contract, or work with the buyer’s lender to document buyer paying for the difference between the appraised value and contracted purchase price.
17.
FINANCIAL COORDINATION
AND MANAGEMENT:
Dates, deadlines and communication coordination between lender and agent is critical to maintain negotiation leverage through the contract process. In some cases the appraisal should not be completed before the inspection or review of disclosures, title and HOA documents. The lender should never notify the listing agent the loan is done and ready to close if the buyer needs to use the loan objection deadline to get out of a contract for any number of reasons.
18.
EMOTIONAL GUIDANCE:
Support buyer through the emotional rollercoaster of buying a home, providing rational advice and assistance to keep the process on track relative to buyer’s goals.
19.
BAD FAITH PROTECTION:
Shield buyer from self-inflicted unintentional acts that could endanger buyer’s earnest money and successful property closing.
20.
CLOSING PROCESS MANAGEMENT:
Review closing documents for accuracy, coordinate with the title company, and represent you during the final walk-through, ensuring all transaction details are finalized correctly and your rights and investment are protected.
21.
POST-CLOSING SUPPORT:
Continue to be your advocate for virtually every homeownership need, including contractor resources, ongoing contract disputes that arise from property post-closing issues, tax preparation the year after closing and market updates to keep you informed of market trends and your property value.
