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 contract—in 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.
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.
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.
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.
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.