[Estimated read time: 6 minutes]
With unlimited access to new listings, valuable sold data, innovative online tools, and FAQs that can be found on most platforms — the general public is now equipped with a wealth of information that they certainly deserve when making such a large purchase.
But is that enough?
Buyers can comprehensively get a good pulse on the local market but could mistakenly fumble through a transaction.
Why do I need to hire a Buyers agent?
Buying a home is a long process with many moving parts. If you’re not careful – it could quickly become a disaster. The average American will move 11.7 times in their lifetime – or once every seven years. An established agent will easily sell 20+ homes – in a single year
82 Tasks a Buyers Agent Does During the Home Buying Process
Buying a home is one of the most significant financial decisions you’ll make, and having a knowledgeable experienced agent can make all the difference. Below, we’ve highlighted 82 tasks a buyer’s agent performs when hired by a client.
Initial Consultation
1. Prepare and present a detailed buyer’s guide.
2. Meet with buyers to discuss goals and establish expectations.
3. Explain the different agency relationships.
4. Review the Exclusive Buyer Agency Agreement together.
5. Discuss various financing options and assist in lender selection.
6. Provide a brief overview of the current market.
7. Explain important steps (earnest money, inspection, appraisals, etc.)
8. Obtain a mortgage pre-approval letter from the lender.
Market Education
9. Offer detailed insights into local neighborhoods and market conditions.
10. Discuss how the current absorption rate can impact buyers & sellers.
11. Explain different Homeowners Associations (HOAs) and related fees.
12. Discuss the importance of reviewing HOA restrictions and other docs.
13. Review how school districts can impact home values.
14. Prepare for multiple offer situations.
15. Review key MLS metrics (DOM, SP vs. LP ratio, etc.)
Property Search & Showings
16. Understand and prioritize the buyer’s needs and goals.
17. Send property listings that meet the buyer’s criteria.
18. Schedule and organize property showings.
19. Share & provide access to new listings as soon as they are available.
20. Request showing instructions for each property.
21. Preview properties for out-of-town clients.
22. Educate buyers about the urgency needed to act on new MLS listings.
23. Research and assist with unlisted properties the buyer may be interested in.
24. Network with other agents to find off-market, or upcoming listings.
Neighborhood & Property Evaluation
25. Identify potential repair issues during property viewings.
26. Collect and evaluate buyer feedback after showings.
27 Guide buyers through the emotional aspects of home buying.
28. Keep notes and records of showings and feedback.
29. Provide updates on any price changes for interested properties.
30. Compare each property shown to the buyer’s needs and wants list.
31. Help the buyer narrow down the search to top choices.
32. Assist in learning more about the neighborhood.
Offer Preparation
33. Review the sales contract and contingencies.
34. Create a practice offer to prepare the buyer for the process.
35. Discuss escalation clauses and how they play a role in multiple offer situations.
36. Review comparable sales and draft a detailed CMA to help determine value.
37. Confirm accuracy of all listing data.
38. Explain lead-based paint disclosures and all other disclosures.
39. Obtain and review the seller’s disclosure statement.
40. Write an offer that has a greater chance of being accepted.
Negotiation
41. Have a conversation with the listing agent to help develop an offer strategy.
42. Prepare and discuss strategies for a multiple offer situation.
43. Negotiate the best price and terms for the buyer.
44. If needed, use an escalation clause to improve a competitive offer.
45. Ensure the buyer receives and understands all disclosures.
46. Prioritize contract negotiation goals with the buyer.
47. Utilize hyper-local data and expertise to assist in making a financially wise offer.
Contract Management
48. Verify that all contract documents are fully executed.
49. Coordinate the earnest money deposit.
50. Ensure that all necessary documents are provided to the lender.
51. Provide the buyer with HOA bylaws and restrictions.
52. Ensure the title company has all required documents.
53. Enter contractual deadlines into the calendar.
54. Coordinate communications between all parties.
55. Address any last-minute issues before closing.
Inspections & Appraisal
56. Schedule and coordinate property inspections.
57. Meet the inspector at the property and review findings with the buyer.
58. Negotiate repair requests based on inspection results.
59. Monitor the appraisal process and address any issues.
60. Assist the buyer in questioning the accuracy of the appraisal.
61. Confirm the status of loan funding.
62. Review and ensure accuracy in all final closing statements.
63. Order any necessary surveys.
Closing Preparation
64. Coordinate the date and time for closing.
65. Explain wire fraud risks and verify all wiring instructions.
66. Remind buyers to schedule utility transfers.
67. Confirm the closing details with all parties involved.
68. Review closing documents with the buyer for accuracy.
69. Ensure the title search is completed and clear.
70. Ensure all parties have all forms and information needed.
71. Review documents from the title company or closing attorney.
72. Confirm clear-to-close with the lender.
Final Steps
73. Perform a final walk-through with the buyer.
74. Confirm all repairs have been completed with a copy of the paid invoice.
75. Attend the closing with the buyer.
76. Discuss any transferable warranties.
77. Provide the buyer with home warranty paperwork.
78. Deliver keys and any other necessary items to the buyer.
79. Advise the buyer to re-key their locks and consider a cleaning service.
80. Advise the buyer to review the settlement statement.
81. Ensure all prorations and dues are correctly calculated.
82. Close out the buyer’s file with the brokerage.
Conclusion on using a Buyers Agent
As the real estate market has evolved, more homebuyers have recognized the importance of having their own representation during the home-buying process. A buyer’s agent is not just a facilitator but a trusted advisor who guides you through every step of the transaction, ensuring your best interests are always protected. The extensive list of tasks outlined above demonstrates a buyer’s agent’s critical role in making your home purchase smooth, informed, and successful.
