The specialty of buyer’s representation not only requires knowledge of real estate markets and transactions, but insight into consumer behavior. The goal of a buyer’s representative is to find the perfect point of connection between the homes available in the market and the needs and financial capacity of the buyers. Let your buyer-clients know how you can save them time by:
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Locating suitable properties.
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Previewing properties.
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Verifying the properties’ condition.
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Suggesting necessary inspections by experts.
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Helping buyers determine what they can afford.
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Verifying property taxes and utilities.
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Verifying the value of the property.
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Advising clients on structuring an offer.
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Presenting the offer to the sellers’ representative.
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Negotiating favorable contract terms for the buyer.
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Explaining legal documents needed for closing and helping secure them.
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Assisting in securing financing.
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Assisting buyers and their attorney in clarifying title, zoning, building codes, and access easements.
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Referring them to qualified vendors.
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Analyzing the future salability of the property.
Top 5 Skills for a Buyer’s Representative
1. Perseverance. Be ready to stick with your buyer through the rough spots.
2. Negotiating. You need good negotiating skills not only to develop a purchase offer, but also to negotiate compensation and other terms of your relationship with the buyer.
3. Listening. Buyers get frustrated if they think their agent isn't tuning in to what they need and want. Click here for a quiz to test your listening skills.
4. Advocacy. This is the skill that separates buyer's agents from seller's agents. As a buyer's agent you're doing all you can to find the right property for your clients. Commission can't be a part of your equation.
5. Consulting. Front-end counseling is essential to help your clients understand how the market works, how the transaction proceeds, and how to work with a buyer's agent.
