Most buyers and sellers are shielded from the sheer amount of work their agent does between calls and emails. And that’s no wonder! Every agent’s goal is to make the process as easy as possible for their client. Whether you are a buyer, seller, both, or unsure of what you want to pursue, you can be sure your agent is hard at work finding you the perfect solution before you’ve made your decision.
But if you’re curious about what your agent is doing between calls, read on for some insider insights into all the work they do behind the scenes to ensure that you get the best possible outcome in your real estate transaction.
Actions to Help Every Client
A great agent constantly works to ensure their up-to-the-minute knowledge of the local market so they can guarantee you a beneficial transaction. These are just a few of the things agents do for every client, regardless of whether they’re buying or selling.
- Preview homes that are not on the market yet. Agents have access to pre-market properties and buyers. They are usually already working to understand your property’s realistic value or get you early access to properties that fit your requirement — and, if you’re lucky, early opportunities to bid.
- Preview homes that just hit the market. In the background, your agent is always visiting upcoming properties and analyzing them against your goals. This way, they can guarantee that you’re one of the best-positioned buyers or sellers in the neighborhood.
- Meet with appraisers. Whether you’re buying or selling, it is essential to understand the value of the property in question. Your agent is lining up or facilitating appraisals of the relevant home(s) before you even know about them to ensure that your investment or prospects are realistic and transparent.
- Talk with lenders about where interest rates are headed. While they work to find you the perfect partner, your agent is usually already in touch with their financial network to ensure that you can finalize the deal that best serves your goals. Knowing the predicted interest rates will help you find the best loan for your upcoming purchase or price your property for realistic offers.
- Talk with lenders to learn their current target market. Agents are also continuously working with financiers to understand the best investment markets to ensure that their client’s transaction is valuable in the long term. Whether that’s a competitive mortgage rate or a pre-sale renovation program, a great agent will have the resources and knowledge before you even ask.
- Review your closing statement before you do. In a competitive market, making sure you cross your t’s and dot your i’s in your closing statement is an integral part of winning – on both the buying and selling sides. Your agent is on hand throughout the process to initiate, construct, and review your closing statement, ensuring that all of your necessary details get included. This is a legal document, so there is no room for error, and a great agent has it in mind from the get-go.
- Get feedback from other agents about specific listings. The market value for nearby properties, known as “comps,” tell your agent a lot about your prospects both as a buyer and seller. As soon as you clarify your goals, your agent begins to identify the current value of comparable listings in the relevant area(s). Going directly to listing agents equips them with a realistic picture of your competitors – and a practical understanding of your ultimate outcome.
- Research the business climate in their area. In addition to researching specific comps, your agent must fully understand the market; trickily, this can change from week to week. Throughout your real estate process, your agent and their team are constantly working to know up-to-the-minute information about both your specific neighborhood(s) and the region at large.
- Research rent values in their area. Knowing the monthly rent vs. mortgage rates is a critical part of real estate investment for both buyers and sellers. Your agent should always know the average rent prices in your area to ensure that you obtain an affordable mortgage or make a well-informed real estate investment.
Behind the Scenes on Buying
Buyers need to know that they’re not being taken for a ride, and it is an agent’s job to provide them with realistic expectations according to their buying potential. Here are some of the actions buying agents undertake to ensure that their clients win the home of their dreams.
- Call other listing agents to see if they have homes coming to market. Your agent is most likely already in touch with other agents to find the best opportunities for your needs and arrange early viewings so you can finalize your sale in a convenient timescape. As soon as you share your deal makers and deal breakers with your agent, they can start identifying the perfect properties for you.
- Professionally package your offer to present to the listing agent in the best possible light. In most cases, every offer is highly competitive. Your agent should be working behind the scenes to create the most appealing offer on your future home, based on the information they receive from the listing agent and what you’ve agreed to include. This is usually a detailed document with input from several parties that your agent has worked hard to align.
- Present your offer to the listing agent in a live format. In a competitive market, offer deadlines come fast – getting in front of both deadlines and the selling party is a significant feat, but can make all the difference in winning the home of your dreams. After you determine your terms, you can be sure that your agent is working hard to get your offer attention from the listing agent, usually with a face-to-face meeting.
- Talk with other agents about how their offers were received. One thing people don’t realize is that agents are constantly in communication. In a competitive market, they are often dealing with the same properties, and they are in regular contact about the offers on a property. They’re usually working within their network to find the best possible outcome for you.
- Talk with listing agents to see how many offers they received on their listing. Even if the listing agent is not in their network, they are in direct communication as soon as you indicate interest on a property. They work to determine how many offers the property has had, how competitive they are, and what might give you an edge in the negotiation process.
Secret Seller Insights
Selling a home is easy, but winning top dollar on a home is hard. A great agent is always hard at work to ensure that their sellers maximize their property value. Read on for some of the main tasks a selling agent completes while preparing a property for market.
Your agent probably makes real estate look like a breeze. In reality, it’s anything but. Behind every major step in your real estate process, many preparative actions have been taken. These are just some of the steps your agent takes to help you achieve your real estate dreams.
If you’re curious about buying or selling a home, get in touch with me at nancy@rainmakerrealestate.com for a free and confidential consultation to get you started on making your goals a reality.