Why Hire a Buyer’s Agent? | 90 Ways Your Realtor Serves You

Filed under: Real Estate Market

Today, I want to share with you what we do: shining a light on the reason why it makes sense to hire a buyer’s agent. This question has been coming up because of the new rules around buyer’s agent commissions – and how ultimately the buyer is responsible for paying that commission (and how this whole process works).

I went to a Tom Ferry event last year. He gave us a list: “90 Ways Your Realtor Serves You.” He outlined all of the little things that we do and compiled it into a big summary.

It was interesting to break everything down. There are a lot of things that a good Realtor should be doing for you. Not only keeping great records of what’s happening, but they should also be protecting your money and deposit (if you’re the buyer). Or, going after the deposit if necessary if you are the seller and represented by an agent.

Here’s the list of benefits you can expect when you are working with a buyer’s agent:

  1. Schedule Time to Meet for a Strategy Session
  2. Prepare Guide & Educational Presentation
  3. Meet and Discuss Goals and Non-Negotiables
  4. Explain Agency Relationships
  5. Discuss Different Types of Financing Options
  6. Help Find a Mortgage Lender
  7. Obtain Pre-Approval Letter from Lender
  8. Provide Resources to Research crime in neighborhoods, school ratings, etc.
  9. Provide Overview of Current Market Conditions
  10. Explain Company’s Value
  11. Discuss Earnest Money Deposits
  12. Explain Home Inspection Process
  13. Educate About Local Neighborhoods
  14. Discuss Foreclosures & Short Sales
  15. Gather Needs & Wants of Next Home
  16. Explain School Districts Effect on Home Values
  17. Explain Recording Devices During Showings
  18. Learn All Goals & Make A Plan
  19. Create Internal File for Records
  20. Send Homes Within Their Criteria
  21. Start Showing Homes as Requested
  22. Schedule & Organize All Showings
  23. Gather Showing Instructions for Each Listing
  24. Send Showing Schedule
  25. Show Up Early and Prepare First Showing
  26. Look for Possible Repair Issues While Showing
  27. Gather Feedback After Each Showing
  28. Update When New Homes Hit the Market
  29. Share Knowledge & Insight About Homes
  30. Guide Through Emotional Journey
  31. Listen & Learn at Each Showing
  32. Keep Records of All Showings
  33. Update Listing Agents with Feedback
  34. Discuss Homeowner’s Associations
  35. Estimate Expected Utility Usage Costs
  36. Confirm Water Source and Status
  37. Discuss Transferable Warranties
  38. Explain Property Appraisal Process
  39. Discuss Multiple Offer Situations
  40. Create Practice Offer to Help Prepare
  41. Provide Updated Housing Market Data
  42. Inform Showing Activity Weekly
  43. Update on Any Price Drops
  44. Discuss MLS Data at Showings
  45. Find the Right Home
  46. Determine Property Inclusions & Exclusions
  47. Prepare Sales Contract When Ready
  48. Educate on Sales Contract Options
  49. Determine Need for Lead-Based Paint Disclosure
  50. Explain Home Warranty Options
  51. Update Pre-Approval Letter with Each New Offer
  52. Discuss Loan Objection Deadlines
  53. Choose a Closing Date
  54. Verify Listing Data Is Correct
  55. Review Comps to Determine Value
  56. Prepare & Submit Offer to Listing Agent
  57. Negotiate Offer with Listing Agent
  58. Execute A Sales Contract & Disclosures
  59. Once Under Contract, Send to Escrow Company
  60. Coordinate Earnest Money Wire Transfer
  61. Deliver Copies to Mortgage Lender
  62. Obtain Copy of Seller’s Disclosures
  63. Deliver Copies of Contract/Addendum
  64. Obtain A Copy of HOA Bylaws
  65. Keep Track of Copies for Office File
  66. Coordinate Inspections
  67. Meet Home Inspector at The Property
  68. Review Home Inspection
  69. Negotiate Inspection Objections
  70. Get All Agreed Upon Repair Items in Writing
  71. Verify any Existing Lease Agreements
  72. Check in With Lender To Verify Loan Status
  73. Check on the Appraisal Date
  74. Negotiate Any Unsatisfactory Appraisals
  75. Coordinate Closing Times & Location
  76. Make Sure All Documents Are Fully Signed
  77. Verify Escrow Company Has Everything Needed
  78. Reminder to Schedule Utilities Transfer
  79. Make Sure All Parties Are Notified of Closing Time
  80. Solve Any Title Problems Before Closing
  81. Receive and Review Closing Documents
  82. Review Closing Figures
  83. Confirm Repairs Have Been Made by Sellers
  84. Perform Final Walk-Through
  85. Resolve Any Last-Minute Issues
  86. Get CDA Signed by Brokerage
  87. Attend Closing
  88. Provide Home Warranty Paperwork
  89. Facilitate Transfer of Keys and Accessories
  90. Close Out File

These are all good things to be thinking about. When you are hiring a Realtor, then you want to make sure that you choose someone who will be able to execute on all of these tasks for you.

If you have any questions or you are looking for a buyer’s agent in Temecula or the surrounding areas, then reach out anytime. I am always here to help. Call, text, or email so that we can talk: (951) 473-0390 or [email protected]