Why Use a Buyer’s Agent?
Here are the simple answers:
- To save you money and avoid frustration.
- To locate off-market properties.
- To ensure that a property meets your needs.
- To ensure that you are buying a property without unexpected problems.
- To protect your investment.
- To have the best chance of winning among multiple offers.
- To manage the complex technical and legal process of buying.
Responsibilities and Contributions of a Buyer’s Agent
With easy access to homes for sale on the internet, some buyers believe that they can find their new home, submit an offer, and then move in. This strategy is unlikely to work in a competitive housing market like Marin’s – and even in the best of circumstances, unrepresented buyers will miss out on the services and protections listed above. Here are the major contributions of a buyer’s agent:
Learn About the Buyers
- Have an initial consult to meet buyers and all involved (children, relatives, influential advisors)
- Learn about their housing needs: budget, neighborhoods, characteristics desired, specific features desired, explore timing options desired.
- Complete buyer-broker agreements.
Prepare Buyers
- Educate buyers on the buying process in Marin County, step by step.
- Assist buyers in understanding financing options and appropriate professionals.
- Obtain a pre-approval letter from lender.
- Inform buyers of towns and neighborhoods best suited to their home search.
- Inform buyers of current market conditions.
- Discuss multiple offer situations.
Find and Show Properties
- Find properties on and OFF market. Update buyers promptly.
- Schedule and show properties that fit the buyer’s interests.
- Gather buyer feedback on each showing.
- Communicate regularly with seller’s agents. Inform them of buyers’ interest and feedback.
Evaluate Properties of Interest
- Obtain seller’s disclosures and discuss with buyers.
- Analyze inspection reports and discuss with buyers.
- Obtain opinions from trusted real estate advisors.
- Obtain and monitor additional inspections, if needed. Meet inspectors at property.
- Assist with insurance coverage, city/county records, local taxes, title records, private utilities, if any, and zoning.
- Read and discuss the title report, including easements, liens, recorded documents, and any unusual aspects of a property.
- Discuss opportunities to remodel, expand, or repair any items of concern.
- Verify any existing lease agreements.
- If there is an HOA, review the HOA documents in detail and review with buyers.
Design and Present Competitive Offers
- Discuss price, terms, possible competition, timing, and sellers’ needs.
- Review comparable sales.
- Explain earnest money deposit.
- Determine best strategy for offer.
- Educate buyers on offer forms and the offer process.
Negotiate a Winning Offer
- Negotiate counteroffers, if any, and the final purchase price.
- Negotiate the sale conditions.
Manage the Purchase Process
- Set up and monitor the timeline and manage the escrow.
- Coordinate with the title and escrow company and the mortgage broker.
- Navigate buyers through the loan process.
- Assist the property appraiser.
- Maintain constant communications with the sellers’ agent.
- Monitor all steps in the closing process and solve any problems.
- Adjust the closing date if needed.
- Provide additional contractual agreements, if needed.
- Monitor delivery of closing documents to title and escrow company and set up buyers’ signing.
- Attend signing with buyers.
- Assist buyers to activate utilities.
- Explain home warranties.
- Schedule and attend a final walk-through inspection. Resolve any issues.
- Assist buyers with moving plans.
- Ensure buyers’ access to property.
After the Purchase
- Provide the buyers with complete records of the purchase.
- Assist with property improvements, if any, before moving in.
- Assist with your property for many years after the purchase.
What Else You Need to Know
Madeline Schaider Real Estate is dedicated to providing all of these services, and more, to our buyers. An investment of millions of dollars in a home deserves the highest level of care – one that Madeline provides.