Understanding the Role of the Realtor Part II: The Buyers Agent
Understanding the Role of the Realtor Part II: The Buyers Agent
A Buyer’s Agent is a Realtor working for the buyer to represent their best interests. If the buyer decides to use the services of a Buyer’s Agent, there must be a written contract called the Buyer’s Agency Agreement. This is the most important decision the buyer can make to find their dream home at the best price possible. The Agent will help the Buyer put together a list of needs and wants of their ideal home. Once these guidelines have been set, the Buyer’s Agent will conduct a search in MLS for a property that meets the buyer’s requirements. The buyer will then choose which properties to see in person and the Buyer’s Agent reaches out to the Listing Agent(s) to schedule the showings.
Once the buyer decides on a particular property they must submit a contract offer to the seller for consideration. The seller will either accept, reject, or make a counter-offer. The Buyer’s Agent helps throughout the negotiating process to provide valuable insight and wisdom at every stage.
Once the buyer and seller reach an agreement and the contract has been “ratified” that means the contract has been signed. The settlement process, also known as the post-contract process, beings. Realtors are trained to guide the buyer and seller throughout this complex part of the real estate transaction.
See the Maryland Realtor Association page on Buyer Agency here. MD Buyer Agency
Is your Realtor by your side every step of the way? Come back next week for the next step of the real estate process, Assisting Potential Buyers While Representing Sellers.