How Realtors® Help Homebuyers Succeed

By MNR News posted 19 days ago

For most Americans, purchasing real property is the largest transaction they will make in their lifetime. In buying real property—whether that’s a home, investment property, vacation home, etc.—there are hundreds of thousands of dollars on the line. Meaning, such purchases are anything but routine. They are high stakes and complex. It’s no wonder that 89% of Americans choose to work with a Realtor® to represent them in such transactionsthe vast majority of people want trusted, professional experts to guide them through the most significant financial decision of their lives.

Buyer representation has enduring value. It’s crucial to the overall success of any real property transaction. Here are a few ways buyer’s agents help their clients in real estate transactions.

Property research and showing assistance
When prospective homebuyers work with a Realtor®, they not only receive MLS access, but also get help setting up specific search criteria to meet their needs. An MLS is a centralized database used by agents to share information about properties for sale, enabling more efficient and widespread access to property listings in a given area. Through the MLS, Realtors® help clients see homes that fit each client’s unique needs—specifying things like number of bedrooms, bathrooms, neighborhood, price-point, and more.

Efficient property viewings
Realtors® help their clients schedule and manage showings, taking them through numerous properties and offering expert guidance that most homebuyers don’t know to look for on their own. In a fast-paced world, this is a significant value add for consumers who are busy with jobs, families, and other commitments. Realtors® streamline the process of finding and viewing properties.

Guidance on list price vs. true market value
Let’s face it, homes aren’t always “priced to sell. With the guidance of a trusted Realtor®, prospective homebuyers can lean on their agent’s market knowledge when considering whether a given home is priced accurately. This provides peace of mind and allays fears of overpaying or missing out on a good deal. 

Offer structure and presentation
When a homebuyer finds a property that they’re ready to submit an offer on, a Realtor® carefully walks them through the offer contractin Minnesota, that’s MNR’s Purchase Agreement. Agents explain the ins and outs of not only offer price, but other crucial terms such as closing date, financing and inspection contingencies, earnest money, disclosures, and so much more. Savvy agents know how to not only understand their clients' needs, but also how to work with the seller’s agent to ensure the offer being submitted will stand out for the home seller. 

Arguably one of the most pivotal aspects of the transaction, good Realtors® know how to negotiate. While this certainly can include list price, it encompasses so much more—whether it’s the closing timeline, work needed on the property, seller concessions, or other items—a Realtor® representing a buyer understands how to move the transaction from offer-in-hand all the way to the closing table. 

Inspection guidance
If a home inspection is part of the offer (MNR’s official recommendation is that prospective buyers should always get an inspection), Realtors® walk through the property with their client and the home inspector. Since home inspectors themselves are not officially representing the homebuyer, Realtors® act as an unbiased source of expertise for their clients in this critical aspect of the homebuying process. 

Financial understanding
Realtors® are fiduciaries who act in the best interest of their clients. As noted earlier, purchasing real property is a significant financial decision. Realtors® offer peace of mind to their clients by guiding them through this complex process—helping them understand not only what’s needed to get to closing, but also explaining the components of a mortgage payment. Further, Realtors® highlight the wealth-creating benefits of homeownership, and also partner with trusted mortgage lenders to ensure a smooth lending process for their clients, which is another crucial aspect of most people’s homebuying journey. 

Final walkthrough
An exciting day, Realtors® conduct a “final walkthrough” with their clients, ensuring that the property is in the same condition it was during the initial showing and inspection. This is usually on or very close to the actual date of closing, meaning Realtors® are an integral part of the homebuying process right up to the finish line. 

Post-closing support
Expert Realtors® know this: while official representation may cease following closing, the relationship with the client need not. Realtors® routinely follow up with clients after closing, checking in on the client’s overall enjoyment of the property, any work that needed to be done post-closing, and other matters. 

The enduring value of buyer agency
While this list of ways Realtors® help their buyer clients is anything but comprehensive, it highlights some of the crucial ways Realtors® help their clients succeed in the home buying process. Real property transactions have life-changing implications—Realtors® ensure those implications are positive, setting clients up for success for the long haul.