Thursday, June 21 , 2018, 9:28 pm | Fair 61º

 
 
 
Real Estate

Reyne Stapelmann: What a Buyer’s Agent Does for You

Help Arrange Financing

» 1. Assist in locating sources of mortgage loans.

» 2. Help you examine how much you can afford but how much you may want to spend.

» 3. Assist in comparing different financing options.

» 4. Provide information on purchasing incentives that may be available.

» 5. Educate and discuss the differences between being prequalified and preapproved for a mortgage.

Assist in Finding the Right Property

» 6. Identify your needs and wants in a property.

» 7. Find appropriate available properties.

» 8. Set up an automated email alert system that immediately notifies you of properties that fit your requirements.

» 9. Sort through inaccurate information about homes in the area.

» 10. Provide ready access to all MLS-listed properties.

» 11. Network with other agents for properties not yet in the MLS.

» 12. Preview properties prior to showing.

» 13. Help select for viewing only those homes that fit your needs.

» 14. Aid in narrowing your search until you have identified your top choices.

» 15. Assist in analyzing the pros and cons of each property.

» 16. Disclose all known latent material defects.

» 17. Assist you in evaluating properties for suitability, affordability and resale value.

Educate You on Market Conditions

» 18. Educate you on whether it is a buyers’ market or a sellers’ market.

» 19. Show statistics on what percent of list price the sellers are currently receiving.

» 20. Show trends, current average days on market, current absorption rate and/or current months of inventory.

Guide You Through Making an Offer and Represent You and Your Interests in Negotiations

» 21. Prepare a CMA so that you make an informed decision when offering a price.

» 22. Advise you on what comparable properties are selling for.

» 23. Explain common contract contingencies.

» 24. Obtain appropriate seller disclosures.

» 25. Prioritize your goals.

» 26. Help create a negotiating strategy to achieve those goals.

» 27. Ensure that you receive and understand all state and federally required disclosure forms.

» 28. Handle the completion of the offer to purchase or sales contract.

» 29. Educate you on the contents of the sales contract.

» 30. Ensure that all appropriate additional forms are completed.

» 31. Assist you in getting the best property at the best price with the least amount of inconvenience based on current market conditions.

» 32. Prepare you for multiple offer situations and develop negotiation strategies specific to multiple offers.

Get You to Closing and Serve as Your Trusted Real Estate Resource

» 33. Recommend inspectors, lenders, attorneys and other professionals as necessary.

» 34. Be an advocate and advisor during the closing process.

» 35. Review and discuss home inspection concerns.

» 36. Monitor and communicate required contract deadlines to ensure that you meet them.

» 37. Assist in coordinating communications between the listing agent, lender, attorneys, title company, appraiser and other professionals.

» 38. Accompany you on the walk-through prior to closing to ensure the property is in the same condition as when you entered into the contract.

» 39. Remain a life-long trusted advisor regarding real estate questions, needs, or concerns.

Count on your Accredited Buyer’s Representative (ABR) to provide the highest level of buyer-representation services.

*Taken from the Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of Realtors.

Reyne Stapelmann is a broker associate with Berkshire Hathaway Home Services, California Properties and the 2015 president of the Santa Barbara Association of Realtors. Contact her at [email protected] or 805.705.4353. The opinions expressed are her own.

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