Did you know there is an entire team of people involved in helping to make sure your home purchase or sale goes smoothly and meets all legal and financial requirements? Beyond your real estate agent, you will meet many others along your journey. Read on to learn the who's who in residential real estate.
Listing Agent
When you put your home on the market, your listing agent's phone number is the one you get most excited to see pop up on your phone notifications. They serve as your main contact with potential buyers, your trusted advisor as you make important choices about listing prices and offers, and a wealth of knowledge about the selling process.
- Advises you on pre-sale preparation and listing prices
- Lists and markets your home
- Negotiates and communicates with buyers' agents
- Answers questions and advises you on listing prices, offers, and more
- Guides the transaction from contract to close
Buyer's Agent
When you are ready to purchase a home, your buyer's agent becomes your rock, the person you can lean on for information, advice, and insights. Your buyer's agent develops an understanding of your needs and wants and your budget and helps you find the right home in the right place at the right price. They manage communications and offer insights during negotiations so you can make confident, wise purchase decisions.
- Helps you determine what you want in a new home
- Identifies properties that might fit your needs
- Arranges tours and visits properties with you
- Negotiates and communicates with listing agents
- Answers questions and advises you on properties, areas, home prices, offers, and more
- Guides the transaction from contract to close
Mortgage Broker
Your mortgage broker will help you find a mortgage with terms that work with your budget and plans. Consider working with a mortgage broker before you start your home search to get advice about the impact of financial health and credit scores on mortgage rate offers.
Home Inspector
After you and your Real Estate Agent have successfully negotiated a contract to purchase a home, you can schedule a professional home inspection. Upon completion of a thorough home inspection, your home inspector provides an inspection report identifying issues that may impact the buyer's decision to purchase the home along with information to help the new owner properly maintain their new home. Buyers work with their buying agents to determine if further negotiations are needed after the inspection.
Real Estate Appraiser
Appraisers evaluate the value of homes to protect buyers and their lenders. Appraisers inspect the home and evaluate the local housing market for comparable properties to influence the appraised value of the home. Your real estate agent can help you decide how to manage any impact of appraisal reports on negotiations.
Closer/Title Company Representative
The closer or title company representative searches public records to ensure no other titles exist for the property and that the seller is the true and rightful property owner. The title company representative also issues title insurance to protect the owners' rights to the property.
Real Estate Attorney
Your real estate attorney typically jumps in "post-contract". While not required, most buyers and sellers hire an attorney to navigate the process. Typically, your contract will include an "attorney approval" period. At that point, your attorney will review the purchase contract, advise on changes to the contract, and help guide the client on any home inspections that may have arisen. Additionally, your attorney will explain and evaluate all legal paperwork during the closing process, protecting your interests.
