|
| |
Are You Buying
What is Buyer Agency?
When we work with Buyers we act
as their representative. You are assured of having us dedicated to working with
you to get the lowest price and best terms possible on the property you want
while protecting your interests. We will negotiate on your behalf.
As your Buyer’s agent we can show
you any property listed in MLS (Multiple Listing Service). We can show you new
homes and new home developments by area builders and we can show you for sale by
owners. As your agents, we'll be your strong advocate during negotiation and
we'll provide you with all the advice you'll need to make well informed
decisions.
So, if you should see a new
housing development, an ad in the paper or a sign in a yard – call us for
complete property information. If you want to see it – we want to show it to
you!
We'll commit our time and
expertise to showing you all the available properties that meet your wants and
needs. Once we've found the right property, we'll act as your advocate in
negotiating on your behalf, we'll provide you with advice and we'll oversee the
due diligence necessary to assure you that the property's legal and physical
condition as well as its value meet your requirements. Only when you're assured,
will we close the contract.
Of course, we'll assist you in
arranging appropriate financing for your purchase. There are many, many lenders.
Based on our analysis of their expertise and effectiveness, we've identified a
cadre with whom we work closely.
-
Buyer's Agent
A buyer's agent is a real
estate agent who is employed by and represents only you, the buyer, in a
transaction. Although they work exclusively for the buyer, their
compensation can be paid in a number of ways - by the buyer exclusively, the
seller exclusively, or (most commonly) through a commission split with the
seller's agent. Even if the seller or the seller's agent pays their fee,
buyer's agents must always remain loyal to the buyer. Buyer's agents can
provide a number of services for you including:
-
Helping you determine how
much you can afford to spend on a home
-
Explaining available
financing options
-
Informing you of current real
estate values, taxes, utility costs and other factors that will influence
your opinion about a property
-
Using the Multiple Listing
Service to locate homes that suit your needs
-
Selecting appropriate
properties to view
-
Revealing any information
about a seller or property which may affect your purchase decision
-
Advising you on your offer
-
Presenting your offer to the
sellers, and negotiating for the most favorable price and terms
-
Helping you to evaluate
counteroffers
Although buyer's agents are the
only agents who act solely with your interests in mind, there are other real
estate professionals who can assist you in finding and buying a home.
These consumer alternatives are discussed below.
-
Seller's Agent
A seller's agent, or listing
agent, is a real estate agent who is employed by and represents only the
seller in a transaction. Their job is to find a buyer and negotiate the
best (highest) price and most favorable terms at which to sell their client's
property. However, seller's agents can also help buyers by:
-
Assisting in the
house-hunting process
-
Explaining available
financing options
-
Calculating monthly payments
and estimated settlement costs
-
Identifying appropriate
properties to view
-
Disclosing material facts
about the property that you are interested in
-
Writing up and presenting
your offer at the price and terms you specify
-
Broker's Agent
The broker's agent works for
the buyer's agent and, like the buyer's agent, for you. You are not,
however, responsible for their conduct. A broker's agent is hired by the
buyer's agent and they typically split the buyer agent's commission on the
purchase.
-
Subagent
Like the seller's agent, the
subagent works for the seller. Subagents are typically hired by the
seller's agent, and are usually paid through a commission split with them.
Subagents can provide you with the same services that a seller's agent can,
but they ultimately represent the seller when it comes to negotiating an
offer.
-
Dual Agent
A dual agent is a real estate
agent who represents both the seller and the buyer with the knowledge and
written consent of both. Ultimately, dual agents work to sell homes, but
they cannot give either you or the seller their undivided loyalty or disclose
confidential information that either you or the seller has told them.
They operate under a duty of fairness to both clients, rather than the duty of
undivided loyalty to either of them.
Dual agency occurs when the
office or firm that is helping you find a home has a listing that you are
interested in. Even if the seller is working with a different associate
from the firm, it is still considered dual agency.
In the situation of dual
agency, the agents cannot share without permission what price you would pay
for a property, or what price a seller is willing to accept. For you to
buy one of the firm's listings, consent to the dual agency must be obtained or
only one consumer can remain a client of the firm. Consent to dual
agency may include agreement by you and the seller to each identify a
"designated agent" within the firm to represent each of your interests
individually. However, the basic goals stay the same - the buyer wants
to buy, the seller wants to sell, and the agents want to finalize the
transaction on mutually agreeable terms.
| |
|
