3 Most Important people in Buying Real Estate

If you are a buyer coming to me as a real estate agent, it is a huge benefit to you to understand who the most important people in the transaction are. The first of the three most important people in the transaction on the buyer's side is the buyer; you! The second of the three most important people in a transaction on the buyer's side is the lender. Finally, the third of the three most important people is your agent. Your agent is the glue that makes the transaction work.

So to sum it all up, your job is to select the right home for your needs, your lender's job is to make the financing possible, and my job is to make sure that the transaction goes through and you get the home with no hassles. When everyone knows their roles, the home buying process becomes less complicated and more enjoyable.

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TYLER REMEIKA 

[Contact info and link removed by moderator]

  • March 03 2011 - East Side
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Answers (6)

Profile picture for Blue Nile
Well, I certainly wouldn't choose an agent that intentionally violates the terms of use of the media they are posting on...

"In fact, using the Zillow Advice forum to advertise is strictly prohibited in the Zillow Good Neighbor Policy, located at http://www.zillow.com/how ... olicy.htm: "Please don't post inappropriate stuff: Spam, advertising, or self-promotional content is not allowed in Zillow Advice. This includes, but is not limited to, any contact information such as phone numbers, email addresses, or website URLs." As part of this policy, Zillow prohibits those posting in Zillow Advice from including any contact information in their posts."

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Really, the 3 most important people are the 1) buyer, the 2) seller, and 3) the appraiser.

The next most important people are:
4) The title searcher
5) The escrow person
6) The home inspector
7) The local building official that grants certificate of occupancy
8) The county records person that records the transaction.
9) Your insurance agent.

The real estate agent is #25 on the list.

And don't forget, that no licensed real estate agent can sell real estate without a broker, so the broker is more important than the agent.
  • March 03 2011
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Profile picture for the_country_hick
The 3 most important people in a real estate transaction.

1 the buyer. Without them no sale happens.
2 the seller. Without them no sale happens.
3 whoever brings the money. Without the money no sale happens.

I guess the agents get put somewhere in the list. But the top 3 I show are the real important people. No one else does anything without them.
  • March 03 2011
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...who (are) the most important people in the transaction. The first ...is the buyer; The second...is the lender...the third...is your agent.

Where's the homeowner that is selling the home? Without product there is no sale and hence no need for the third member of this troika.

The agents are the facilitators of the transaction. If you want to use a glue metaphor, I think they're more like the mayonnaise on a sandwich. The mayonnaise is the 'glue' that holds the sandwich together. But without the meat, the cheese and the bread, you don't have a sandwich.
  • March 03 2011
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Profile picture for Connie Klemme

I'd reccommend choosing your response carefully, there's not much you can say to defend or fix your statement.  There's far more disagreement with your statement than agreement.  many will find it offensive and an attempt to justify or explain will be even more so.  My two cents....duck down, be quiet and consider an apology to all of the roles you left behind the agent.

An agent is the most easily replacable member of the transaction from a conceptual perspective.   It is only  documentation that keeps a specific agent there,  you could pick some other agent and change them out midway and still have a smooth transaction.  To abuse Mike's metaphor, the mayo can be replaced by mustard and the sandwich is still just as filling, some won't like the taste change but the food didn't become less of a sandwich. that doesn't mean everyone will do a great job but anyone can potentially do just as well as the one involved..  we are here to assist and do a job and make it smooth for everyone else and not a key member- thinking of ourselves that way is dangerous.  without all the other people...we don't have a job or need to exist.

  • March 03 2011
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The lenders job is to make the financing possible?????

That implies entitlement.

 No, it's the buyer's job to make financing possible; by having good credit, a down payment, finding acceptable collateral, etc.
  • March 03 2011
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Profile picture for Mike Shirley
It takes a buyer, a seller and a whole team of hardworking professionals to close a real estate deal.  You never know where the issues will arrise but they almost always do.  You've got to have a pro in every position and prima donnas aren't helpful. 
  • March 04 2011
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