The climate of the real estate industry is changing. In the old days, less than 20 years ago, all real estate agents worked for the seller, and even agents working with the buyers did so in the seller's best interest. But things have changed. New laws and regulations are in place so that today, buyers can work with any Realtor of their choice and pay for their own representative via the transaction proceeds. Yet, many fail to take advantage of having their own representative help them through the arduous home buying process.

According to the National Association of REALTORS (NAR,) four out of five homes are sold through a real estate professional. But, says the National Association of Exclusive Buyer Agents, less than fifty percent of buyers go to the closing table represented. The National Association of REALTORS® puts that same number even higher. According to its most recent buyer/seller survey completed in 2000, 79 percent of homebuyers purchased a home through an agent, but only 51 percent were represented by an agent at closing.

Why would anyone undertake the most expensive transaction of their lives without a representative to help them? Chalk it up to old-fashioned buyer thinking. Some buyers don't know how treacherous the negotiation and transfer of a home can be.

Many buyers, particularly while using the Internet, enjoy the relative anonymity of shopping for homes alone. They like to find homes online and then drive by the homes they find for an in-person peek. Some buyers may believe that if they find the home they want online, that they don't need a Realtor. Realtors are for finding homes, aren't they?

Not anymore. That's out-of-date thinking. It was the NAR, among other early Internet pioneers, that pushed to put homes on the Internet in the first place. Were they trying to put themselves out of work? No, they were trying to automate the home search process because that is the most time consuming for their clients as well as members. Even so, not every home reaches the Internet. Some Realtor associations claim that as many as 1/4 of listings are never posted on the Internet for a variety of reasons, including reluctant sellers. Other homes sell so quickly, the listing agent never bothers to post the home. How does that work? Realtors network among themselves and "hear" about homes from other agents. They let their buyers know which homes are coming on the market, enabling them to make early offers before the home reaches the multiple listing service where the homes are listed for all agents.

The fun only begins with the selection of a home. There are still weeks and sometimes months of work left to do. First there is your offer to manage. Sellers are adversaries, with opposite goals from you. They want the most money and the best terms. You want to buy for the least money and your idea of best terms. Realtors serve as intermediaries to make sure your offer is presented without delay, rancor, or misunderstandings. Then you have competition to worry about. In many markets your offer won't be the only offer on a home. Your Realtor knows what "it takes" to get the home you want.

Once your offer is accepted, your Realtor manages your transaction to make sure that all the many players who have a piece to contribute from lenders to appraisers, inspectors to closing agents, are all doing their jobs and supplying their "piece" of the transaction at the appropriate time and place.

The real estate transaction has become more complex, not less so. With the aging of American homes, for example, the discoveries of health hazards such as Radon, asbestos and lead in paint have created much more liability for sellers and buyers. A Realtor can help buyers navigate the maze of disclosures and inspections which assure the home they are buying is safe.

Your Realtor sees to the details that you may not think about. S/he is experienced at picking up the nuances of contract language. What if you are relocating from another state? Customs differ. It may seem okay to you to pay the seller's closing costs, but if that is not customary in your new area, you may be over paying. A Realtor will step in and tell you what goes on your side of the ledger and what is paid by the seller.

S/he will also keep her ear to the ground. Overhearing that the neighbor installed a new fence after the seller purchased the home may be a fact of only mild interest to you. "Good," you think. "At least I won't have to repair a fence on that side yard for a long time." But to a Realtor, that is a heads-up to get a survey performed pronto. What if the fence "accidentally" encroaches a few feet into your yard? This needs to be determined before closing or you could lose some valuable real estate.

Buying a brand new home? The home should be under warranty, but having a Realtor at the table will assure total accountability from the builder. S/he will insist that you get a title search done even if the property was a corn field before the development was bulldozed. S/he'll insist on an independent inspection to make sure your home was built to "code." Remember, without a Realtor by your side, the builder represents his/her own interests, not yours.

Those are just a few of the jobs your Realtor will do for you as a buyer's agent. Take advantage of having your own representative so that you have the same advantages as the seller - equal representation, under the law.

Published: July 20, 2000

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.