Recently I have had several instances where the buyer's agent either went AWOL or didn't understand their job.
Buyer's Agent Job Description
If you are working as a buyer's agent, your job is to actually represent the buyer...your client. And as such you are to do the following, at the very minimum:
- Show them houses that meet their criteria, regardless of the commission percentage
- Understand what's in the contract and explain the contract to them so they have a better understanding of what they are getting into
- Explain to your client that there will be some "bumps in the road", but most can and will be resolved
- Present their offer to the listing agent, in person if at all possible
- Process the contract (sending it to the settlement company, lender, etc)
- Get all required inspections completed in the allotted time frames
- Make sure your client understands all of the time frames
- Communicate with the listing agent regarding the progress of the loan
- Schedule the settlement and final walk through
People Don't Like Surprises
I have found more and more that real estate agents have done a very poor job of explaining the home buying process to their clients. As a result, the buyers are "surprised" when there is a "bump in the road" to settlement. And often times when that "bump" occurs, the buyer's agent stops communicating with the listing agent. What they fail to understand is that the listing agent has a duty to keep their client abreast of the status of the transaction. So when something comes up, the listing agent usually needs to be kept in the loop.
Everyone Is Anxious
This is especially true as you get closer to settlement. Everyone is anxious and needs reassurance that the transaction is progressing towards the settlement date. When phone calls and emails go unanswered, the listing agent and seller start to speculate as to what is going on, that's just human nature. And 9 times out of 10, they think the worst. I often hear agents say, "But I didn't have anything new to tell you". But what they fail to realize is that, no news IS news.
As a buyer's agent, your job doesn't stop when the offer is accepted...that's when the real work begins.
- I Don't Want Representation
- It's Nice To Be Appreciated
- What Makes You Different From All The Rest
- You Are So Much More Than A Real Estate Agent
- Please Don't Ignore Me
- Can We Talk
Real-Life Real Estate Training – The Training You Need, When You Need It
- Have you struggled turning contacts into clients?
- Are you working hard, but hardly making any money?
- Are you beginning to think you made a bad career choice?
If you answered “yes” to any of these questions you are in the right place! The Real-Life Real Estate Training program was designed to transform you and your business so that you achieve your goals. It doesn’t matter what stage in your real estate career you are in…new, experienced, or somewhere in between, our systems will help you focus your time, energy and effort on the right areas of your business.
The Real-Life Real Estate Training program was designed by an active real estate agent, so our program is totally realistic, doable and easy to put into action immediately.
My name is Candy Miles-Crocker and I’d love to talk to you if you still have some questions or need additional information. Fill out my online contact form or give me a call at (202) 669-1924. Check out what our valued clients have said about us on our testimonials page.