Home > Home Buying > How The Role of Your Real Estate Buyer's Agent Evolved Over Time and Technology

I have not been in the real estate industry long enough to fully comprehend the detailed works of a real estate buyer's agent back in the days when there were no MLS (multiple listing service) and there were no technology to support its system. I have heard of stories of the MLS listings showed up in 3-ring binders and real estate brokerage firms used to be a huge part of real estate domination. Consumers relied on their real estate agents for properties available for sale. The newspapers and Open Houses were other sources that properties were available for sale back then. There were no internet and certainly no tools like we have today available to the consumers.

Back in the days, the Buyers showed up at the real estate office and 10 property listing sheets were spreaded out on the table. These are the homes they will view that day.

Today, my role as a real estate buyer's agent have changed significantly on the front end. Today, my buyers give me a list of 10 homes they want to view today.

With the availability of Home Search tools on real estate buyer's agent website, Trulia, Zillow and Realtor.com, consumers have relatively good access to properties for sale in their market areas. [Note: I am reserving the right to discuss about the accuracy of these sites.] Buyers who signed up for Property Alerts receive instant notifications when properties meet their criteria. Their real estate buyer's agents may not even know about them until prompted by their clients. The forerunners of real estate buyer's agents who embrace technology now offer the coolest technology for its buyers to enhance their experience on the web. It's no longer about what's available as market inventory. The need of buyers have grown beyond that. 

Should You Still Have a Real Estate Buyer's Agent Represent You?

Back in the early 2000s, real estate buyer's agents were afraid that the Internet would send them to extinction, like the travel industry. Consumers feel accomplished with these market availability and real estate buyer's education they can read and learn for themselves that are so freely available on the Internet these days. 

However, there is a fine line to walk between seriously navigating through these unchartered territories themselves versus relying on a real estate buyer's agent's expertise in the transaction.

Gone are the days that the real estate agents that have access to properties feel like the power to the transaction. There must be more significant value that a buyer's agent must bring to the table, other than the availability of homes that will cause a buyer to want to hire a real estate buyer's agent: Local market knowledge, expertise in negotiation, strong ecommendations of referral partners such as home inspector, title company, lender, trade vendors, etc., availability and expertise to take the buyer from house-hunting, through escrow and ultimately a timely and satisfied closing. Knowing how to set effective home buyer's expectation is also a very important skill a well-rounded real estate buyer's agent should have, but often overlooked as a criteria during the search of the agent.

So often, the buyers get so focused on finding the right home in the process, they often overlook that finding an experienced real estate buyer's agent is just as important in this process - if not more important than the initial house hunting process. Almost all real estate buyer's agents have access to the same properties, hence the differentiator between a good and mediocre one is in its value a real estate buyer's agent bring to the transaction.

Every time a buyer meets his/her real estate buyer's agent, the buyer should feel that the meeting/ presence is worth while, some buyer's education went on during the showings and there must be significant value that was passed on in every phase of the transaction. Real estate buyer's agents are not door openers and an experienced one should never be viewed that way. An experienced one is worth its weight in gold far beyond what type of homes you will view today.

That's why you would want to hire and count on an experienced real estate buyer's agent who cultivate the market areas everyday. The value is much more than market inventory since buyers have almost readily access to such information. Each real estate buyer's agent bring different value to your transaction. Find out what is your priority. Then, find the real estate buyer's agent that best suit your needs.

Related Articles:

• Putting Your Life On Hold During Your Home Search
• What every real estate buyer needs to know when buying in these times
• Understanding Real Estate Contracts
• Can You Buy Your Home Without A Realtor?
• Frisco TX First Time Home Buyer Series