Guides, Negotiators, Advisors: What Real Estate Agents Do

What Does an Agent Do?

For the Buyer

1. The agent prepares a contract that explicitly outlines the duties the agent will perform for the buyer and the buyer's responsibilities during the relationship. The contract creates a client relationship with the buyer. It is the agent’s responsibility to fully explain the contract and the fees that will be owed and by whom. Both parties agree to a specific timeframe, so there is no confusion.
2. Agents work with the buyer/buyers to understand their needs and wants in a home. Together, the buyers and agent will start reviewing the properties available in preparation for visiting the homes.
3. Agents communicate with listing agents to identify the details of the homes, their availability for showings, and any special circumstances that may affect the transaction.
4. Agents set up showings and show the buyers desirable properties to determine which home is the perfect fit.
5. Once a home or several preferred homes have been identified, an agent will investigate the market activity, comparable sales, and appropriate pricing to determine the home's value range.
6. If the buyer decides to make an offer, the agent will prepare the offer using Georgia Association standardized contracts and review it with the buyer to ensure they fully understand the contract and its accompanying exhibits.
7. The agent will assist with the negotiation of the terms of the purchase.
8. Once the terms of the contract have been agreed to, the contract will be bound, and the parties will be under contract.
9. The agent will make sure all the terms are fulfilled in a timely manner.
10. The agent will assist in scheduling an inspection or inspections.
11. The agent will assist in the negotiation of repairs and remedies for the items deemed unacceptable from the inspections. Safety and structural items are of paramount importance.
12. The agent may schedule contractors to get quotes and recommend professionals who will help the buyer prepare the home.
13. Once the concerns with the property have been agreed to and contractually identified, the agent will facilitate the transfer of information to the lender and the closing attorney.
14. The agent will continue to ensure that any contingencies and their time frames are adhered to, such as the financing and appraisal contingencies.
15. The agent will schedule the closing and ensure all parties have all the information they need for an on-time closing.
16. They will review the preliminary closing statement with the buyer to ensure they understand and agree with the funds needed and the expenses noted.
17. Finalize the closing.

For the Seller

1. A listing appointment is the opportunity for the seller to interview agents to find the company that is the best fit.
2. An agent will prepare a custom marketing plan and competitive market analysis.
3. If found to be a good fit, the agent will prepare an exclusive listing agreement using the Georgia Association of REALTORS®' standardized contracts, present, review, and explain all the elements of the contract, including pricing, timeframes, responsibilities, compensation, and performance expectations.
4. The agent will review the condition of the home and make recommendations for creating the best opportunity for maximizing the sales price.
5. The agent may make recommendations for contractors and assist with scheduling work.
6. They will prepare the marketing materials.
7. A “For Sale” sign will be planted in the yard, and direction signs will be placed where appropriate and allowed.
8. A lockbox will be installed and programmed for the home.
9. The agent will coordinate with potential buyers for showings and gather feedback.
10. The feedback and comments will be communicated to the seller regularly.
11. When an offer is received, it will be communicated to the seller.
12. The agent will review the offer and explain it and all the exhibits to the buyer.
13. The agent then assists in determining what response is appropriate.
14. They then prepare the response on the appropriate GAR contract forms, have the seller review it, and, if approved, sign the response documents.
15. The agent will then present the response to the buyer or the buyer’s agent.
16. The offer–counteroffer process may undergo several iterations with the same review-response cycle until an agreement is reached.
17. Once an agreement is reached, the contract is bound by the agent.
18. The agent will assist with negotiating any repair requests from the buyer resulting from an inspection.
19. Once the final negotiations have been agreed upon, the agent will communicate these with the closing attorney.
20. The agent will meet the appraiser to provide access to the home.
21. The agent may recommend contractors to assist with any agreed-upon repairs.
22. The agent will continue to monitor the progress of all parties to ensure the timely performance of the contract's elements.
23. They will schedule the closing.
24. The agent will receive the preliminary settlement statement and review it with the seller to ensure the amounts are correct and as expected prior to closing. They will then communicate any necessary changes with the closing attorney and review and communicate the changes.
25. Assist as necessary for a satisfactory and pleasant closing.