Careful selection of a real estate agent is a key factor in the success of a smooth transaction. Among your agent's responsibilities are: finding a home that fulfills your requirements, negotiating the purchase price of that home on your behalf, supervising property inspections, and overseeing closing on your home. Some agents work closely with lenders and will provide you with leads to acquire your mortgage. With a good agent--someone who has excellent negotiating skills and is very knowledgeable about property values--you could potentially save yourself thousands of dollars.

Your agent should patiently guide you through the homebuying process and explain each step along the way. A sign of a good agent is someone who will always explain your options and will make recommendations to you. Sometimes an agent will advise you to contact experts such as property inspectors or lawyers. A competent agent will not feel threatened by the addition of these people to your real estate team.

While it might not appear obvious to you, real estate agents spend a tremendous amount of time working for you. Much of the work they do is "behind the scenes," and many people do not realize how much time and effort is required of an agent. Just touring new properties and routinely keeping up with what is on the market is time-consuming. Additionally, your agent will prepare and present your offer to purchase, negotiate counter-offers, help you secure a mortgage, assist with all paperwork pertinent to the closing of the deal, and review the home with your property inspectors.

Throughout your search for the perfect home, you might encounter homes that are listed as "For Sale By Owner." Sellers sometimes opt to sell their homes without the aid of a real estate agent. Some people do this to avoid paying an agent's commission. While these transactions can run smoothly, you are far better off in acquiring the aid of a real estate professional. Aside from helping you to find a property, the assistance you receive in negotiating, calculating fair market value, and coordinating property inspections, seller disclosures, mortgage financing, etc. is invaluable.