A real estate agent can either be a buyer’s agent or a seller’s or listing agent, depending on their client’s need. Although a single agent may list property for sale and also work with buyers, each role will be a little different. To understand why you need a real estate agent and what your agent should do for you, let’s take a look at each agent type.
Buyer’s Real Estate Agent
When you’re ready to buy a home, getting help from a real estate agent will expedite your search. Your buyer’s agent represents your interest during the entire real estate transaction and will work hard to make sure you get the best bang for your mortgage buck.
Your real estate agent is an absolute asset when it comes to researching available homes for sale. They should have geographic knowledge and neighbourhood familiarity, along with school information and other insider info. They will also have a network of related professionals to assist you in completing your real estate transaction, including mortgage lenders, solicitors and inspectors.
When you are ready to make an offer on a home, your real estate agent will generate the paperwork to present to the seller and will negotiate on your behalf until you are either satisfied with the terms of the sale or are ready to continue looking.
Once your offer is accepted, your real estate agent will help navigate each step in the closing process. If you weren’t pre-qualified for a home loan, she will also work with you to gather the necessary elements to obtain a mortgage.
In short, your buyer’s agent will walk you through each step of the buying process while handling more details that you could ever imagine.
Seller’s Real Estate Agent
When you’re ready to sell your home, finding a listing agent is the first step toward success. Your listing agent will evaluate the market and help you price your home accordingly. They will also make suggestions for improving the exterior and interior of your home to make it more appealing and saleable.
Your agent will list your home for sale and get the word out about your home to other agents. They may hold an open house for other agents and host events to attract potential buyers. Like a buyer’s agent, your seller’s agent should have neighbourhood familiarity, school information and other insider info to share with prospects.
While marketing and selling your home, your real estate agent will accentuate the positive aspects of your property and downplay its shortcomings. They will ceaselessly show your home and stay in constant communication with you. And when an offer is made on your home, your real estate agent will provide experienced advice on whether to take the offer, submit a counter-offer or reject the offer completely.
When a legitimate offer is made on your home, your real estate agent will show their true value by negotiating every detail to your advantage. At this point, you should have enough faith in your agent to trust their recommendations regarding the close of your sale. And then, put the paperwork in your real estate agents hands.
Although some homeowners do put their house on the market for sale by owner, paying the associated fees to have a professional real estate agent handle your sale makes a lot of sense in today’s competitive market.
The Bottom Line on Real Estate Agents
As you can see, the role of a buyer’s agent and a seller’s agent are distinctly different, yet their paths intersect with each real estate transaction. Whether you are buying or selling, a professional real estate agent will be your ally from start to finish.