What Makes a Great Buyer’s Agent?

A licensed real estate broker or agent that represents a buyer in a real estate transaction rather than a seller is known as a Buyer’s Agent. There are numerous benefits of working with a good buyer’s agent to identify and purchase the right property. The common question most buyers ask is what role does a buyer’s agent play and how to identify a great one. Let’s answer both parts of this question simultaneously because they are like two sides of a coin.

An ideal agent is one who’s organized, pays attention to details, and understands the buyer’s neighborhood, market values and other details. The agent must demonstrate their track record and provide references. It is best to look for someone locally. By knowing the price, location, style of home, and age, a good agent will know if a home is valued higher or lower than the market value. The agent must take complete ownership of the buyer’s needs and preferences and find properties that meet their client’s requirements which could include location, price, size, features and other criteria such as schooling, amenities, property taxes, etc.

The buyer’s agent must be able to respond promptly to their client requests, which in today’s terms means being connected via various media such as mobile phone, email, text/IM messages, and tweets, and respond instantly in real time or within a few hours of being contacted by the client.

The buyer's agent must point the client in the right direct regarding getting prequalified. The agent must also know loan officers with a reputation to do things on time and keep the buyer informed during each step of the process. The agent must assist the buyer in the decision making process by preparing a market analysis report prior to making an offer.

The agent must provide the buyer a list of home inspectors that they have worked with in the past. The agent must be present during the home inspection along with the buyer and explain the inspector’s report in detail. The agent must also make sure that any required repairs are done satisfactorily

Throughout the process a great buyer's agent is in constant contact with the buyer, lender, and the title company. The agent must keep track of the paperwork trail and closely follow every step of the process to ensure that the closing takes place as scheduled. It is important that the agent perform the final walk-through with the buyer.

Potential buyers could use these points as a checklist while interviewing buyer’s agents. Upon selecting the right one, buyers must refrain from signing any exclusive agreements. It is best to sign a non-exclusive representation agreement.