What is one of the first things a real estate agent should do when a buyer is preparing to make an offer?

One of the first things a real estate agent should do when a buyer is preparing to make an offer is to survey the market trends. Understanding current market conditions is crucial for the agent to provide the buyer with informed advice. This includes analyzing comparable sales, assessing the listing price in relation to recent sales in the area, and understanding whether the market favors buyers or sellers. Such insights help the buyer make a competitive offer based on real-time data, ensuring they do not overpay or undervalue the property. Analyzing market trends also allows the agent to discuss strategies with the buyer, such as how aggressive the offer should be, and if contingencies or flexibility in negotiations are necessary.

The agent's analysis of market trends sets the stage for a successful purchase process and aligns the buyer's expectations with the realities of the real estate environment.