Why Use A Buyer Agent?
First, let's start with Traditional Agency, which is what everyone thinks of with a real estate agent. In Traditional Agency, there is a real estate agent who represents the seller, called the Seller's Agent. This is the agent who lists the property, advertises the property, and negotiates for the seller to get the best price for the property. Typically, there is a second independent real estate agent enlisted by the buyer to show them properties. What may surprise you about this is that this second agent, termed "sub-agency," actually works for the Seller's Agent and therefore, the seller. In every real estate transaction, with every company in the United States, all agency duties are owed directly to the seller. Does this mean a buyer cannot trust the real estate agent showing them properties? No, but it does mean that the buyer must be aware that agents work for the seller.
So what about the buyer? How does the buyer get representation? How can the buyer get the best deal on a property when the real estate agents all represent the seller? That is where a Buyer Broker, or Buyer's Agent, comes into play.
When a buyer is represented by a Buyer's Agent, all the agent's duties are owed to the buyer and not the seller. The buyer has the freedom to discuss the value of properties, negotiating strategies and personal finances with the agent. The buyer can obtain the opinion of the agent concerning the condition of the property, the effect of improvements, the seller's motivation for selling, and a variety of information which a seller's agent cannot provide.
A buyer's agent makes a commitment to make every reasonable effort to locate the property described by the buyer. This includes searching for homes that may be available for sale though they aren't listed with a real estate company. Although the traditional agent will work hard to find the perfect property for your needs, the traditional agent has some limitations because of the duties owed to the seller.
In other words, a Buyer's Agent is the only guarantee that you, the buyer, will be truly represented in a real estate transaction.
My years of experience in real estate make me an excellent Buyer Broker. The concept is relatively new, extremely popular, and could save you thousands of dollars. If you wish, I would be pleased to serve in that capacity for you. It would mean that we would enter into a client-agent agreement in which I become your agent in your quest for finding a home. I would be responsible only to you - not the seller. Under this relationship, I can and will be able to do all of the things listed below under Buyer Agent which, for legal and other reasons, I cannot otherwise do.
What I can do for you as your Professional RE/MAX Buyer's Agent:
Ask Questions and Listen
Estimate Price Range
Review Purchase Agreement
Consult with other Sales Associates
Estimate of Costs
Information on Financing
Prepare and Present Offer
Explain Settlement Procedures
Keep in Touch
In Conclusion . . .
Traditional Brokerage System:
Under this system all Real Estate Brokers and their Agents represent the Seller and the Seller's best interest:
* Negotiate for the highest price.
* Structure the transaction to the Seller's advantage.
Buyer Agency System:
Under this system, the Selling Real Estate Broker (and the Agent who sells you the home) is the Agent for the Buyer and represents the Buyer and their best interests.
* Negotiate for the lowest price.
* Structure the transaction to the Buyer's advantage.
We are working together with you as a team and we expect to be with you until you find a home. However, during the buyer broker period, if you are unhappy with any of our services, please let us know by phone or e-mail. If we are unable to improve and/or correct the problem, we will release you from the buyer broker contract with written notice as to why you wish to terminate.