For a buyer - and especially a first-time buyer - a good real estate agent means the difference between a harrowing, stressful experience and a smooth entry into a new home. Here's a rundown on what a good agent will do for you.

What Can the Buyer Expect an Agent To Do?

• Discuss your financial situation with you. It's wasted time and effort to look for a home without knowing what can you afford. Before embarking on your home search, agents get a general idea about your budget and can steer you to mortgage brokers. Who will help you determine how much money you can spend. Note: Many buyer's agents will not work with you until you have been pre-approved for a loan. In the current lending environment, your credit score is more important than ever.

• Familiarize you with your new location. If you are moving to a new locale, contact real estate firms in the area. Good agents call you promptly and help you make arrangements to visit and see properties. They recommend places to stay, meet you at the airport, show you the sights. Many good agents will have community information on their websites. They can tell you about schools, shopping, historical sites, restaurants, and religious institutions. An agent should not discuss ethnic or racial compositions of neighborhoods; they are prohibited from doing so by the Fair Housing Act.

• Match your needs with the right home. A good agent listens carefully and tries to match your specific needs and desires with the right home. They should be patient and willing to show you a wide variety of homes without pressuring you to make an offer. You can assist, of course, by perusing the Internet yourself and zeroing in on homes you would like to see.

• Suggest alternative options. Agents know the market better than you do and may come up with possibilities you haven't thought about.

• Show you homes. Much of the agent's work is behind the scenes making appointments and gathering information. Good agents know their inventory and do the legwork for you to find homes that fit your needs. They can often tell you about deals when they come up or even before.

• Help you price. Before making an offer, good agents compare similar homes in the area and estimate how much you should offer for the home you want. The agent can also help you determine how much the home will cost you each month.

• Negotiate contracts. Until you and the seller agree to the price and the terms there is no deal. An experienced agent knows how to navigate these treacherous waters. For example, coming in too low at the beginning may turn off the seller so much they may refuse to deal with you altogether.

• Work with your attorney/inspector. During the attorney/ inspection period, there are a myriad of details that can arise that an agent should deal with promptly. The agent will keep in close contact with your attorney or inspector to make sure the deal is moving expeditiously.

• Assist with mortgage applications. The agent can help with finding the right mortgage broker or lending institution and keep in touch with them during the application process.

• Attend the closing. This varies from state to state, but agents often come to closing with you.

Who does your agent work for?

In most real estate transactions the buyer's agent and the listing agent work for the seller. That is, real estate commissions are paid by the seller to both agents from the proceeds of the sale. From this perspective both the buyer's agent and the listing agent work for the seller. A Buyer Broker provides representation to the buyer. You should demand 100% loyalty from your Real estate buyer agent.