Everybody knew that this draft was very underwhelming as far as QB, so for that you can place blame on the agent for not doing his homework.
The reality is that the powers that be decided his worth(and I agree with the post that said he was drafted too early). The reasons his draft stock plummeted is because
1)He collapsed when WV got into the Big XII conference schedule. After losing to us(OU), he wasn't the same.
2)Tavon Austin and Steadman Bailey created the perception that they were the entire offense and he was there only to distribute the ball. Both receivers improved their stock in that game. I personally thought that Steadman Bailey was gonna be drafted before Smith.
3)The bias that tall QB are better suited to play the QB position than shorter ones. E.J. Manuel on paper and in sight looks like he could be a potential good prospect. Although, I question his pocket composure and his knack to make very timely and costly mistakes in clutch situations, Buffalo is taking the chance that they can help him correct those things to help him mature into a good QB... With his other talents, he can be great. A risk worth taking from a club that hasn't had a franchise QB since the 90's. This was a bad draft for QB's. There was nothing that could be really done, but to be more informed about the possibility of his draft status dropping because of the quality of QB's.
All is well and he got drafted.... He's on the clock now because that pick was very unpopular among Jets fans and Rex Ryan is trying to save his job. If he's as good as he says he is he'll be named the starter, because the Jets can do no worse at QB.