Become a proud homeowner

A buyer agent’s job is to educate their clients about pricing and strategy and safely guide them through the home buying process. A buyer’s agent spends most of their time touring homes in all price ranges in your market area and they can bring you insight about comparable properties from their firsthand experience. They also have inside knowledge about things that may have impacted a comparable home’s sale price (divorce, death, failed inspections, etc). Most agents sell hundreds or thousands of homes over their career. The average person moves 5-7 times in their lifetime. Would you trust someone who has been canoeing in a river 5-7 times to “safely guide” you down white-water rapids? There are so many things that can go wrong in a transaction if you don’t know what you’re doing. Buyer’s agents take that heavy burden off your shoulders and in some cases can save you thousands or even tens of thousands of dollars by bringing the right experience to the table.

No, you do not. In fact, most agents in our market area are confident enough in the value they bring to their relationship with their client that they won’t even ask you to sign a contract. However, every agent should present you with a state required form called the Massachusetts Mandatory Licensee Consumer Relationship Disclosure which is a form that explains who they are and how they would represent you should you decide to work with them. This is supposed to be presented at the first personal meeting to discuss a specific property. If you’re meeting an agent at a showing for the first time and they don’t present this form to you, imagine what other duties they could fail to perform throughout your relationship with them. This form is not a contract and there is even a box at the bottom of the form that you can check off declining to sign it. The important thing is that the agent is following the law from day one being transparent about their possible relationship with you.

In Massachusetts the buyer’s agent is most often compensated by the listing brokerage. If you have an exclusive contract to work with your buyer’s agent there may be different terms spelled out, but this should be discussed before submitting any offer and documented. When in doubt, talk it out and then recap it in writing.

The best first step is to get pre-approved with a reputable mortgage broker. A true pre-approval means that you have been fully vetted by the mortgage brokerage and gone through underwriting. Short of being a cash buyer, this puts you in the best position to be considered by sellers when making an offer. You should ask your buyer’s agent for a couple of recommendations. It is important that you have good chemistry with the mortgage broker and that they have a good chemistry with your agent. It makes for a smoother transaction when everyone who is looking out for your best interests works well together.

Much like a snowflake, no two transactions are alike. A good agent will have a buyer presentation or buyer guide that they will provide you so that you know what steps you’ll likely need to take in your home buying journey. From the mortgage application to the inspections to the P&S and beyond, your agent should be a guide and an educator. If the relationship with your agent is strong enough, you’ll find yourself reaching out to them after closing as a resource and a local area expert. From tradesmen to dining experiences to school information, you should never hesitate to call your agent.