I use "may" a lot. Some realtors are worthless as t!ts on a boar hog...and some are hustling muldoons that will make it happen.
Tell me about it - I have to work with both kinds. Every day. We're lucky here in Lubbock, most of the full-time agents are pretty good at what they do and they have the good 'ol West Texas work ethic. I understand that a lot of places don't have that luxury.
Back to baus44's original question... In short, the agent is there to represent your interests and help you through the buying process.
On the Buyer's side of the transaction that means making sure you have all the information about the house AND have all the necessary guidance to make informed decisions. It also gives you immediate access to information - via the Multiple Listing Service (MLS) - that might not be available any other way. Example, past sales information or potential past problems known to the agent but not disclosed by the seller. The agent should, if they are worth their salt, help you avoid the pitfalls, get you all the available information, guide you through the mountain of paperwork, help you coordinate with title companies and lenders, and generally guide you through the process in as smooth a way as possible.
Understand that the agent's job isn't to "get you a good deal". It's to help you find and purchase a home. It's a matter of perspective. Your version and the agent's version of good deals may not be the same (and often aren't). I've lost count of the times that I had a buyer set up with a home that met their needs logistcally, emotionally, and financially, only to have them shoot themselves in the foot over something as trivial as a few hundred dollars. They wanted to wrangle that last $500 out of the seller and it cost them the house they loved. One guess as to who they blamed for something that was completely their fault.
Also understand that not all states have Buyer's Agency (Texas does). With Buyer's Agency the agent is working for the buyer, and the buyer only. In states with no buyer's agency, the agent on the buyer's side is actually a sub-agent for the seller (i.e. represents the seller's interests). Always ask if you are being exclusively represented.
Unfortunately there are agents out there that live down to the general stereotype of the "gotcha" slime-ball pond scum. Their goal is immediate - wrangle as much money out of you as possible. That's patently bad business and is usually self-defeating. It generates ill will, potential legal problems, and no return clients. If I want to stay in business I people who trust me enough to do business with me again, and who will recommend me to others. Treating clients like humans instead of paychecks is
just good business. If I keep their interests covered I have generated (hopefully) a long-term business relationship that is mutually beneficial. Even if they never buy a house again, they know people who do and will recommend me. Unfortunately, many agents haven't realized that, or are simply unable to comprehend the long-term ramifications of their business dealings.
One little note, there are times when the agent may be representing both sides (it's usually called an intermediary relationship). In Texas, at least, it must be disclosed up front. If it's not disclosed and you find out later, you have all kinds of nasty legal remedies you can pile on the offending agent (not the least of which is getting their license yanked).
Hope this helps!
Brad
p.s. - I must be doing something right - someone remembered what I did for a living and trusted me enough to ask my opinion! Thanks baus44, I don't think you realize how good that makes me feel.
