There are several steps involved to achieve homeownership. However, it is hard to accomplish a goal when you are really not sure how to do it. Typically buyers have a lot of questions when moving through the homebuying process. Your Realtor will be your source for answers.

A Realtor has an ethical responsibility and legal obligation to protect your interests. Working with a Realtor will help alleviate some of the stresses associated with the home buying process, and will also help you gain a better understanding of the steps to becoming a homeowner.

Breaking down what a buyers’ agent does for a buyer, and how an agent can help potential homebuyers, will help you understand the importance of having a Realtor when you decide to purchase a home.

What does a Realtor do for a buyer?

The most critical role of the Realtor is to represent and protect the clients’ interests. When assisting both buyers and sellers, the Realtor wears many hats. Whether you are a buyer or seller, the Realtor will serve as your head of communications, chief of negotiations, and personal representative. 

The Realtor will arrange property showings if your buying a home, keep you up to date on the status of the market, and make sure everything is on track to ensure you close on time. As your head of communications and personal representative, the Realtor will communicate with the seller or the listing agent on your behalf.

Before we dive deeper into the question, what does a Realtor do for a buyer, first, we need to make sure you understand some terminology.

What is a Buyers agent versus a Listing Agent?

The role of a Realtor with a buyer is different from the role of the agent with a seller.  When a Realtor is working with a buyer, they are working as a buyers’ agent. A buyers’ agent represents and protects the interests of the buyer. The agent monitors the transaction to ensure that the buyer fulfills their individual duties in preparation for the closing.

When a Realtor is working with a seller, the Realtor is then a Listing Agent. A Listing Agent is a Realtor that represents the seller and keeps the sellers’ interests in mind. The Realtor will help the seller prepare their home for sale, market the home to potential buyers, collect and negotiate offers on behalf of the seller, and prepare the sellers for closing.

What is a Buyers Agent going to do to help a buyer through the home buying process?

More often than not, buyers have questions throughout the process of buying a home. Should I ask for a home warranty? If I am dissatisfied with the home inspection, what do I do? Along with providing you with answers to your questions,  your agent will also guide you through the steps to buy a home.

The Realtor will review their responsibilities to you as your agent, as well as the process to purchase a home. Your agent will educate you on current market conditions and provide information on how the current market may affect you as a buyer. An agent can assist with obtaining financing, help you locate a home, and arrange property showings. When a buyer finds a property that you would like to submit an offer on, the buyers’ agent will prepare, submit and negotiate your offer to the seller or Listing Agent.

What does a Buyers Agent do to help a home buyer locate a home?

Having a buyers’ agent will get you access to more homes. Buyers’ agents have access to just about all the homes listed for sale within their region. 

The agent will search for homes that meet your needs, send you listings, and keep their ear to the ground for any properties that are coming to the market soon. The buyers’ agent will obtain property-specific information, schedule, and accompany buyers to property showings.

To protect their interests, buyers should not communicate directly or provide their personal information to the seller or the Listing Agent. If a buyer has any questions about a property, they should contact your real estate agent directly.

What does a Real Estate Agent do for a buyer in preparation for making an offer on a home?

In preparation for making the offer, the buyer and buyers’ agent will review the seller’s asking price. The agent will also review comparable properties including active and recently sold properties in the area with the buyer to help you determine a price you would like to offer. The buyer and the agent will also discuss any contingencies, options for requesting a seller assist, as well as inspection options.

What does a Buyers Agent do when the buyer wants to make an offer on a home?

When a buyer wishes to make an offer on a home, the agent will prepare the paperwork to make the offer, discuss the earnest money deposit and any contingencies the buyer would like to request. Once the paperwork is signed by the buyer, the agent will send the offer to the seller for review.  As the negotiator, the goal of the buyers’ agent is to get the buyer’s offer accepted by the seller under the best terms and conditions.

What does a Buyers Agent do once the seller responds to the buyers’ offer?

The buyers’ agent will communicate the seller’s response to the buyer. If the seller accepts the buyer’s offer, the agent will communicate that to the buyer.

If the seller counters the buyer’s offer, the agent will review the counteroffer with the buyer. The buyer can either agree to the sellers’ counteroffer or counter the sellers’ offer. 

If the seller rejects the offer, the agent will communicate that to the buyer as well. The buyer may have the option to submit another offer or look for another property.

What will the Buyers agent do for the buyer, if the buyer decides to look for another property?

It’s simple, the buyer and the agent will start from scratch to locate a property that meets the needs of the buyer.

What does the Buyers Agent do when a buyer’s offer on a home has been accepted?

Once the seller accepts the buyer’s offer, the agent will advise the buyer that the offer has been accepted. At this point, an executed agreement of sale exists between the buyer and seller. The buyer should proceed with completing the inspection contingencies outlined within the contract. 

The agent will also work with the buyer to ensure the buyer meets the contingencies as outlined in the executed agreement of sale. The buyers’ agent will also be working on the backend with the lender, title company, and listing agent or seller.

What is a Buyers Agent doing for the buyer in between the time of the accepted offer and the closing?

Once the seller accepts the buyer’s offer, the buyers’ agent will collect the earnest money deposit and monitor the transaction to get it to closing. 

The agent will also keep note that the inspections are completed within the contractual timeframe and review the findings in the inspection report with the buyer. If any repairs are requested as a result of the home inspection, the agent will negotiate any repairs with the listing agent or seller for the buyer. 

The agent will work to keep the transaction on track for closing and arrange a final walk-through with the buyer before the closing.

What does a Buyers Agent do to help a buyer with financing the purchase of their new home or if a buyer needs service provider recommendations?

A buyer’s agent can recommend high-quality service providers such as home inspectors, title companies, connect buyers to lenders for financing options, etc. to help address your needs.

What does a Buyers Agent do if the buyer has concerns about something uncovered during the home inspection?

During the home inspection, the home inspector will check the property’s structure, electrical and heating system, roof, etc.  After the home inspection is complete, the buyer will receive an inspection report from the inspector. The inspection report may reveal defects found by the home inspector.

The home inspector typically provides the home inspection within 24-48 hours after completion. The agent will discuss the inspectors’ findings and any substantial defects found with the buyer. The buyer will then decide how they would like to proceed.  The buyer can review their options for canceling the contract, negotiate the repairs with the seller, request a price reduction, or other concessions.

If the buyer chooses to move forward, the agent will work with the seller or the listing agent to try to reach an agreement regarding the repairs on the buyer’s behalf.

What is a Buyers Agent role at the closing?

The agent may attend the closing. Buyers may be nervous on closing day, so having the support of your agent will go a long way.

How much does it cost to hire a Buyers Agent?

Hiring a buyers’ agent in most real estate transactions does not cost the buyer anything. Typically, the seller pays the buyers’ agent fee.  The buyers’ agent fee is paid out by the seller at the time of closing. 

However, if the seller does not agree to pay a buyers’ agent fee, the buyer can negotiate the fee with the seller. If the seller is not willing to pay a portion of or the full amount of the buyers’ agent fee, the buyer may be responsible for covering the cost, in that case, you will want to talk to your agent.

Do I need a Buyers Agent to buy a new home?

The short answer is no, but why wouldn’t you want to protect your interests during one of the most expensive purchases you may ever make? According to the National Association of Realtors, 88% of home buyers purchased their home through a real estate agent or broker.

Now that you understand what a real estate agent can do for a buyer and that having a buyers’ agent can provide you with written protections and guarantees that will come in handy during the buying process, do you really want to take the risk and do it alone?

Schedule a Consultation with a local Real Estate Agent to learn more to find an agent that is right for you.

Buying a home can be challenging and I am here for you. I would be more than happy to assist with any further questions you have. If you are interested in buying a home in Pittsburgh, Pa. I would love to help. Feel free to contact me or schedule a free- no-obligation real estate agent consultation today! If you are looking to buy a home in another US city and need a referral,  send me a message and I can connect you with a highly qualified real estate agent in your area.