Aren't All Realtors the Same? (Part 2)

In the , I wrote about the agent who represents the seller in the sale of a home and the various services offered. In this post, I'll explain the role of the buyer's agent.

In the early days of the real estate industry, if you wanted to buy a home you'd likely find the home through an open house, by driving by a home for sale and calling the number on the sign to schedule a showing, or by calling an office/agent and asking them to show you homes that fit your criteria. During these early years there was no such thing as buyer agency, so the agent was representing the seller.

Over time, buyers began to see the benefit of having their own representative in the transaction (after all, it's likely the largest purchase they will ever make) and buyer agency developed. The buyer's agent represents the best interests of the buyer throughout the process of purchasing their home.

Your agent will explain the process of purchasing your home, help you narrow down your search, provide objective input about homes that you may be considering, help you find a lender to secure your financing, guide you through the process of writing your offer, negotiate on your behalf, accompany you during home inspections, make sure that deadlines are met, initiate the title search, arrange and accompany you on the final walk through, and attend settlement to ensure that all agreements between the buyer and seller are met.

When is it time to get an agent? As soon as you're ready to buy a home. Many buyers choose to wait until they have found their home, usually scouring open houses, before finding their agent. By getting an agent early, you won't have to wait for open houses because you'll have access to every home available on the multiple listing service. Also, when you find the right home you'll be ready to write your offer right away so you won't miss out on the home that you want because someone submitted their offer first. Most of all, there is generally no cost to you to have your own agent.

Communication between you and your agent is critical to a successful relationship. To make the relationship work, be sure that you've discussed your expectations. Do you expect to be picked up or prefer to meet at the homes? Do you expect most of your communication to be through text and email or do you prefer phone calls? Do you expect regular updates on the progress or do you prefer that your agent just take care of everything and let you know when something is needed? Do you expect that your agent should be available a the drop of a hat and all day every day or do you expect that they'll return calls within a few hours or a day at the latest? If your agent will be out of town, have they lined up a colleague to work with you while they're away? Discussing what's important to you will go a long way toward a smooth purchase.

If you have any questions about buying a home, please feel free to contact me at jon@jonmillerhomes.com. You can also visit my website, www.searchphillareahomes.com, to search for available homes and get more information about home buying.