Today's "savy" buyers in the real estate market, understand that typically the agent that has listed the property for sale is the agent for the Seller and more and more, buyers are enlisting the help of a Buyer's Agent. I have listed the typical responsibilities of a Buyers Agent. The responsibilities of a Sellers Agent, Buyers Agent, Transaction Broker (non agency) and Designated Sellers, Buyers are outlined in the brochure "Real Estate Brokerage Relationships-Statement of Representation which I can email to you at your request. This is the brochure agents are required to give you at the first available opportunity so you know where you stand. Here are some basic Buyer Agent responsiblities: Show all homes that are available through MLS, that fit the established features, price range, and general area you requested through the terms of the Exclusive Buyer Agency Agreement, setting appointments, and establishing an itinerary. Between, provide comparison FHA, VA, convenional financing, and adjustable rates when applicable. Estimate closing costs and monthly payments for your price range. Represent you in negotiation of the contract regarding pricing and any specific terms that may be significant to you. Handling all the detail work and negotiation, carefully explaining all written documents and giving you a copy of everything you sign. (Remember the commercial for V-8, many buyers have said "I wish I'd had a Buyers Agent). Represent and assist you at your closing, attending to final details and explaing settlement statements to you. Make sure you have keys, possession, and utilities coordinated. Optional: Research local lenders for the rates and terms available for financing. Assist you in preparing for loan application and be present at your loan appointment if you wish. Update you throughout the loan process. Prepare a comparative market analysis on the home you select to help establish a fair market value and a history of sales in the area. Call utility companies to verifyf average billing for gas and electric in the past year. Provide you courthouse information on the subject property, including a breakdown of annual and total specials and payout of specials. Calling within 10 days of closing to confirm there are no additional pending specials. Provide you with information on home owners warranties and inspections. Buyer Client Responsibilities: If you seen an ad or sign (for sale by owner, or other agency) call me. I prefer to be with you when you look at houses, but if you happen to stop at an open house, be sure to identify me to the other agent. If I am not with you, remember that at on-site agent generally represents the seller, so be careful not to discuss personal, confidential information that could harm your negotiating position with a sellers agent. AND, do not sign an offer to purchase contract or make a verbal offer directly to the Seller's Agent or agree to let them draw up the contract no matter how hard they pressure you. They work for the seller and you are not represented. |