What Does a Buyer's Agent Actually Do? A $25,000 Story

By Darren Ricketts

Darren Ricketts is the Team Leader of the Ricketts Group at eXp Realty, serving clients throughout Eugene, Oregon, and the surrounding areas.

Every once in a while, those of us in real estate get asked the same question: What does a buyer’s agent even do? There’s this idea out there that all we do is open a door and say, “Good luck.” I’ll tell you what, there’s a whole lot more to representing a buyer and protecting their interests than that.

So let me share one story that shows exactly what I mean.

A really good friend of mine, and a great client, was in the process of buying a beautiful house in the College Hill area. If you know Eugene, you know it’s a wonderful neighborhood, super convenient, full of charming older homes. This one had been fully remodeled and was genuinely beautiful. We got it under contract, and then came the inspections. And I’ll tell you what, that turned into an eye-opening experience.

Now, I’ve personally bought and sold over a dozen houses, and every single time it’s a big deal, for the buyer and the seller both. The fact of the matter is that a real estate transaction is arguably the most complicated thing you’ll do all decade. So we get to the inspection on this beautiful, remodeled home, and come to find out we’ve got a problem. A major electrical issue that nobody knew about, and certainly nobody anticipated.

Here’s the part that mattered most. This wasn’t a cosmetic thing we could shrug off. It was a significant fire hazard, and the house wasn’t even insurable in its current state. If my buyer had simply moved forward without catching it, this would have become a huge, dangerous, expensive problem the day they owned it. So as we negotiated with the seller and the listing agent and talked with the insurance company, I brought in my own electrician to do a full assessment of the house and map out all the wiring, so we knew exactly what we were dealing with. No guessing.

At the end of the day, we got the seller to cover $25,000 worth of repairs to fix an issue that nobody even knew existed when we started. So, did I open a door, show my client the house, and wish them good luck? Of course I did. But I was also there through the entire transaction, making sure their best interests were represented and that we knew exactly what we were walking into. In this case, that was worth $25,000 and a whole lot of peace of mind. Next time, who knows what it’ll be?

I’d be happy to open a door for you and wish you good luck. But I’ll also take care of you through the entire transaction and make sure you’re well represented from the first showing to the closing table.

If you’re thinking about buying, give me a call at 541-852-2565, email me at darren@rickettsgroup.net, or visit rickettsgroup.net. I’d be happy to chat.