The Process of Working with a Real Estate Agent

Real estate markets and transactions are complex. So, many savvy homebuyers and sellers hire experts to help with the process, teaming up with a realtor. These professionals ensure efficient, legal, and fair property sales and purchases. 

If you’re about to sell your home or start looking for a new one (especially if you’re a first-time homebuyer), you might be curious about what working with a real estate agent entails. 

This start-to-finish guide details every step of the process and what to expect from each.

1. Finding the right agent 

There’s a lot at play when selling or buying a home: funds, legal dealings, and emotions. So, you want to work with a real estate agent you trust. Finding the right fit takes time and research. Start by asking around in your trusted circles for referrals, and look up local realtors’ ratings on sites like The Better Business Bureau, RankMyAgent, or Angi. Or check out Titus’s partner agents. Titus only teams up with top realtors, who have proven experience and above average sell-through rates (a major perk if you’re a home seller).

Then, hold interviews. These allow you to ask agents key questions about their real estate license and certifications, experience level, niche know-how (not everyone is an expert at all types of real estate), and recent success stories.

2. The first meeting 

Once you’ve matched with the right real estate broker, set up a consultation. In this meeting between you and the realtor, you’ll be able to explain what type of property you’re looking to buy or sell, talk about your price range and mortgage pre-approval amount (if you’re a buyer), discuss your ideal sale price (if you’re a seller), and learn about the market. 

If you’re selling a home, the agent will likely want to see the property and may even begin to make recommendations for renovations to make the space more attractive to buyers. The realtor might also recommend getting your home inspected, providing a reliable contact for the job. Home inspections surface unseen issues that can lead to essential repairs a seller will either need to inform a buyer about or perform before making a successful sale. (Note: Depending on the agent’s process, the home inspection could happen later.)

The consultation with your realtor is an excellent time to air your questions about this professional’s specific way of working and fees. Find out how much the agent’s commission is if you don’t already know.

3. Contract signing

At this point, you’ll sign a representation agreement with your agent—a legally binding contract that stipulates how much the agent will earn in commissions. The document also details the responsibilities of both parties. 

Signing this agreement starts your journey as an agent and client on the right foot. All parties are clear on the nature of the relationship and express their good faith in working with one another to fulfill the contract. A buyer or seller can rest assured that the realtor will abide by the agreement, working hard to find them a home or move the property they have. And the agent feels confident they’ll be paid appropriately.

4. Buying and selling

You’ve signed a contract with an agent; now, it’s time to buy or sell a home. The process and the type of tasks the realtor does in it depend on the nature of the transaction. Here’s a bit more on how agents work with different types of clients.

If you’re a seller, your listing agent will: 

• Help set the sale price for your home correctly. 

• Recommend renovations that make your home more attractive and give you tips on staging the property/getting it ready for showings and open houses. The agent may even help you get financing for renovations by partnering with Titus.

• Refer you to reliable contractors to perform work on the property as needed.

• Market your home by listing it on sites and databases (like the multiple listing service/MLS). Great real estate agents will leverage creative marketing, like social media campaigns, drone footage, and virtual walk-throughs. 

• Network with buyers and other agents, trying to connect interested parties with your property. 

• Show the home in open houses (viewing periods during which visitors don’t need to have an appointment and private showings. 

• Field phone calls and email inquiries from interested parties. 

• Receive offers. 

• Helping state seller’s disclosures—issues with the property a homeowner must let interested buyers know about. 

If you’re a buyer, your agent will:

• Show you properties (both listings and in-person) that appeal to your needs, aesthetics, and price range. 

• Help you draft an offer, filling out all of the correct paperwork and deriving information about appropriate purchase prices through a comparative market analysis. 

5. Negotiating an offer

Real estate professionals act as cool and collected negotiators for their clients, who may be more emotionally driven when it comes time to accept or make an offer. A buyer might want to drive down the purchase price of a home, citing contingencies (like pending repairs), but a seller likely wants to earn as much as possible. 

The buyer’s and seller’s agents can respectively negotiate on their client’s behalf, reaching a middle ground that works for all. This way, sellers avoid taking too low of an offer just to jump at a sale, and buyers don’t immediately give up on their homeownership dream because their initial number got rejected. Agents can help both parties navigate a counteroffer.

6. Finalizing paperwork 

Once a buyer and seller have arrived at the magic sale number, it’s time to finalize the real estate transaction. Doing so implies paperwork. Both parties will sign a contract and the agents will help their clients meet their due diligence obligations, i.e., the seller may have to have their home formally inspected and appraised (if they haven’t already). 

Buyer’s agents, while not financial advisors, may also assess their client’s purchase readiness, ensuring that an official mortgage process is underway with a lender.

7. Closing

The closing process is the last formal stage in the real estate transaction, and it generally takes a bit over a month. During this time, agents help clients navigate closing costs and the process of finalizing the buyer’s mortgage agreement, making payment for the property, and transferring the home’s title. 

There is also a closing meeting, normally lasting just a few hours. Both the buyer and seller and their respective agents are at the table. Generally, the buyer gets the deed and the keys and/or access code to the property, and both parties sign the final documentation, which has been reviewed by the realtors. Throughout the entire closing process and up to closing day itself, agents support their clients, ensuring that the transaction goes smoothly for everyone involved.  

8. Following up

Excellent agents follow up with clients. Doing so makes their services stand out and keeps clients coming back for future real estate transactions. 

A buyer’s agent might check in with the owners to see how they like their new home and refer contractors for any remaining renovations. Both buyer’s and seller’s agents might keep former clients on a mailing list, providing useful information about the real estate market. Some go so far as to send a birthday card or surveys to fill out so they can improve their services. 

Titus-affiliated agents go above and beyond

Real estate agents that partner with Titus add another highly beneficial step to the home transaction process: helping a home seller secure financing for renovations that boost property value. This perk benefits buyers, too, as those who purchase a home from an agent who uses Titus funds for renovations get a more attractive, functional, state-of-the-art property. 

Loans of up to $25,000 are interest-free, and Titus doesn’t ask home sellers for anything out-of-pocket or upfront. Learn more about how Titus’s closing lines of credit (CLoCs) work and how you can get started.