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buyer: The Highest Level of Representation for Buyers - 11/03/11 04:40 PM
My last blog entry was a testimonial from me about my new dentist. What does that have to do with buying a home? Lots.
Everybody should know about biomimetic dentistry and doctors like Dr. Noot. I really connected with him and his practice because:
1. He really cares about what is best for his patients.
2. He takes the time to educate his patients about what is going on.
3. He lets the patient make the important decisions regarding their care.
4. He has gone the extra mile in his personal training and education in order to provide his patients with … (0 comments)
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buyer: "We Wanted to Make Sure We Had an Agent We Could Rely On" - 10/25/11 08:26 PM
Prior to working with an EBA, we had been involved in four other real estate purchases and three sales and had developed some skepticism toward realtors in general. This most recent move was our first that wasn’t just to another part of town. This time, we were to move ourselves, our five kids, our dogs and our cats 300 miles. We wanted to make sure we had an agent we could rely on. We shopped extensively and even spoke to a few agents before we found Homebuyer Representation on the web.
We felt good about working with our EBA from the … (0 comments)
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buyer: Representation - You Get What You Pay For - 09/30/11 05:09 PM
At Homebuyer Representation we put our clients first. Our clients are always Buyers, all the time.
We do not represent Sellers ever. We don't "switch teams" in the middle of the transaction. Our focus is on what is best for the Buyer. We don't work to get the deal to go through if the client doesn't want it to go through or if it isn't in the Buyer's best interest for the transaction to close. We have no specific properties we need to "move" or "sell". We can help a Buyer purchase any property listed by any real estate brokerage, home-builder … (2 comments)
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buyer: Salt Lake City "Super" Accredited Buyer Representative - 09/30/11 03:10 PM
Well, I did it again! I decided to get the ABR designation for the second time. Yes, this means I took the entire curriculum over again, so you could say I'm twice as knowledgeable as those who have only earned the Accredited Buyer Representative designation once!
Okay, so maybe I didn't learn twice as much, but taking it from different instructors each time and a few years apart, I do have to say the course was a great reminder of how to property serve the real estate buyer and gave me some ideas on how I can make my buyer representation … (0 comments)
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buyer: FHA MIP on the Rise - FHA Loans Becoming Less Attractive, Costing More - 02/16/11 04:05 PM
FHA Annual Mortgage Insurance Premium just went up another .25%
On a $300,000 loan, this means the monthly payment just went up $62.50 per month!
This goes into effect on loans insured by FHA on or after April 18, 2011.
I hope our new construction buyers with FHA loans have homes to close on before then!
There is surprisingly little coverage on this. Here is one of the few links I could find other than bloggers: Fox News
If you will be buying a home with FHA Financing this spring ANYWAY, you may want to consider beginning your home search a … (3 comments)
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buyer: Homebuyer Representation, Inc. Earns Coveted Angie’s List Super Service Award - 01/12/11 05:19 PM
Award reflects company's consistently high level of customer service
Jan 12, 2011 - Salt Lake City, UT - Homebuyer Representation, Inc. has been awarded the prestigious 2010 Angie's List Super Service Award, an honor bestowed annually on approximately 5 percent of all the companies rated on the nation's leading provider of consumer reviews on local service companies.
"Our Super Service Award winners are the cream of the crop when it comes to providing consistently high quality customer service, as judged by the customers who hired them," said Angie Hicks, founder of Angie's List.
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage, … (3 comments)
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buyer: U.S. President Barack Obama Recommends Home Buyers Hire Their Own Agent - 04/01/10 06:43 PM
U.S. President Barack Obama met Thursday with the President of the National Association of Exclusive Buyer Agents to express his support for the efforts of the consumer friendly non-profit association which educates consumers about their right to equal representation in the real estate transaction.
The President just recently became aware of Exclusive Buyer Agency at a joint meeting of the U.S. Department of Housing and Urban Development and the Consumer Financial Protection Agency. He was intrigued by a section within HUD's new guidebook, which details ways in which consumers can protect themselves when buying a home and obtaining a mortgage loan.
… (4 comments)
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buyer: An Exclusive Buyer's Agent is the Only Way to Go - 05/01/09 06:09 PM
I recently transferred to Salt Lake City from California. Having owned a few homes, and also having dealt with various agents in the past, I did not relish the stress and hassles involved in the home buying process. I investigated my options, and wanted an agent that would be a good fit for me. I wanted an agent who was willing to work only for me. Little did I know that I was about to embark on one of the most rewarding and remarkable adventures of my life. Benjamin Clark is the best! He made the buying process an absolute pleasure. … (3 comments)
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buyer: An Equal Level of Representation for Home Buyers - 03/16/09 11:14 PM
Great Article in the New York Times Friday, featuring a good friend and colleague of mine, Ira Freireich of Long Island, NY.
The article points out how many homebuyers are becoming more savvy and aware of how they can get the best level of representation in the real estate transaction: Exclusive Buyer Agency.
Some key points:
Exclusive Buyer Agents (EBAs) negotiate for the Buyer EBAs work for the Buyer only - Not the Seller like traditional real estate agents EBAs keep confidential information confidential - The seller won't know that you can or will pay more EBAs give you more control … (3 comments)
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buyer: "Impressed with Your Professionalism" - 02/27/09 01:26 PM
Ben,I wanted to take a moment and thank you for letting us help you with the purchase transaction for the Tanners. I was impressed with your professionalism and particularly the depth of your understanding of the closing process and the HUD-1 settlement statement. Your attention to detail is obviously a huge benefit to your clients.I was also impressed with the loan package you were able to help your buyer obtain. I've closed loans and purchases at interest rates in the 4's before, but I've never closed one at that rate with no lender fees. Your buyer focus shows in how well … (5 comments)
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buyer: Key Details of the $8,000 Federal Tax Credit for Salt Lake City, Utah Area Homebuyers - 02/19/09 01:18 PM
Key Details of the $8,000 Federal Tax Credit for Utah Homebuyers
Buy a home between January 1, 2009 and December 1, 2009. Get $8,000 Federal Tax Credit when you file your 2009 Tax Return (or sooner, see below). This does not have to be repaid. (UNLESS: You sell the home within 3 years) If you and your spouse make a combined income of less than $150,000 annually (or if you are single and make less than $75,000 annually), you qualify for the full $8,000 tax credit. If you make more than that, you may qualify for a partial tax credit. You … (9 comments)
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buyer: Exclusive Buyer Representation - The Homebuyer's Best (But Little-Known) Option - 11/21/08 12:06 AM
Well, I just ran across a press release from the National Association of REALTORS either from May of 2008, or revised in May of 2008.
It says in the header that the article will discuss agency and representation options the consumer can choose from:
"a variety of business relationships with real estate professionals, including buyer representation..."
The article then goes right on to only discuss Designated Agency and Dual Agency, (less than full forms of brokerage representation) but leaving out Exclusive Buyer Agency. It should be clear to the public that they don't have to choose Designated Agency OR Dual Agency … (2 comments)
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buyer: Home Warranty Companies Affected by Slowdown: Adjusting Prices/Coverage - 10/17/08 12:01 AM
It seems that the slowdown in the real estate market has Home Warranty companies that service the Salt Lake City real estate market adjusting their premiums and coverages to keep profits up.
Over the past 45 days prices have gone up by about 18% and deductibles (service fees) are up about 10%.
To be fair, some additional coverages have been added to some warranty companies' offerings, but others have actually lowered their level of coverage by removing items from standard coverage or limiting the extent to which the home warranty company will cover certain claims. The cost of "add-on" coverage (for … (2 comments)
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buyer: Salt Lake Area Home Buyers Should Seek Professional Representation and Certified Negotiation Expert when Buying a Home - 10/13/08 03:01 PM
The NAR 2006 Profile of Home Buyers showed that:
98% of Buyers believe negotiation skills are "Very Important" or "Somewhat Important" in their real estate agent.
and that:
Buyers give "Negotiation Skills" the lowest satisfaction rating of all agent skills and qualities.
Fewer than 3% of all real estate agents have received formal professional negotiations training.
Exclusive Buyer's Agents are already set apart from traditional real estate agents because they work for the Buyer in every transaction. By keeping in mind what is in the Buyer's best interest at all times, Exclusive Buyer's Agents naturally become good negotiators. Still, when the … (2 comments)
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buyer: Buying "Small" in Salt Lake - 10/03/08 03:53 PM
With all the plusses that come with more square footage, the smart buyer will look at the additional costs. Whether you are buying a home as an investment, or planning on living there a long time, there are many reasons some Buyers choose to buy "small" rather than buying "large" homes. Most Buyers who choose to buy small do so out of some necessity: The home is closer to work, their buying budget only gets them a small home, etc.
But some buyers who could buy big, still choose to buy small and their reasons are food for thought.
Some of … (3 comments)
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buyer: Are Downpayment Assistance Programs Bad? - 10/03/08 02:49 PM
So were (are?) Downpayment Assistance Programs bad? I don't think DAPs are bad in and of themselves. But coupled with additional items from the lender's bags-of-tricks, they likely contributed to a number of defaulted mortgages, including some that will continue to default as adjustment dates and balloons come due.
(Click Here to read How a Downpayment Assistance Program Works)
Here's why: In many cases, those who got this "help" from down payment assistance programs, unfortunately also bought more home than they should have. They went for the big new home instead of the more traditional "starter" home.
In order to buy … (0 comments)
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buyer: Downpayment Assistance Programs (DAPs) or, The "Money-Go-Round" - 10/03/08 02:37 PM
Downpayment Assistance Programs are being allowed less and less. One "stated" reason is that they likely helped contribute to the breakdown of the real estate market.
Here's how a downpayment assistance program (DAP) usually worked: The Seller would give 3% plus some "administration fee"...
(sometimes 1% of the Purchase Price)
to a "neutral" third party "non-profit corporation"...
(Did I mention they sometimes took up to 1% of the Purchase price in exchange for providing a paper and money shuffle?)
who would then "gift" that money (well, just the exact amount needed) to the Buyer to use as a Down Payment. … (0 comments)
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buyer: The Housing and Economic Recovery Act of 2008 - How First Time Home Buyers can get a $7,500 Refundable Tax Credit - 07/30/08 06:44 PM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit.
A simple overview of how it works
You are eligible if:
You are a first time home buyer (meaning neither you nor your spouse has owned a principal residence (home, townhouse, condo, etc.) in the last 3 years.
You purchase(d) a home "on or after April 9, 2008, and before July 1, 2009".
Your Modified Adjusted Gross Income is less than $150,000 (for married taxpayers) or less than $75,000 (for single … (0 comments)
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buyer: Relocating Home Buyers Seek Out Exclusive Buyer's Agents for Representation - 05/29/08 02:59 PM
Because of my work, I was required to relocate to Utah. As with my previous home search effort in Illinois, I decided to use an exclusive buyer agent rather than a traditional realtor. A traditional realtor normally cannot fully represent buyers since they are legally bound to work for the sellers. Also, from a pure business aspect, traditional agents have incentive to promote their own listed properties—and not other agent’s.
So, while on a business trip to Utah on March 28th, I met with my exclusive buyer agent for the first time over breakfast. Benjamin Clark of Homebuyer Representation, Inc. was … (8 comments)
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buyer: Will Machines Replace Real Estate Agents? - 05/20/08 10:21 PM
A New World
Some websites promote their equivalence to or superiority over the flesh and blood real estate agent. While mathematical computations can be completed much faster by microchips and microprocessors, they lack the same thing Dorothy's beloved Scarecrow lacked: a brain.
Today's Lenn Harley post on Zillow caused me to consider: Just what is it that makes a real, live, on-site agent better than the Zillow machine?
What's Wrong with a Machine Estimating Value?
Probably the largest fault to be found with Zillow's calculations is that they are entirely mechanical. Data In - Data Out.
And what is wrong with … (122 comments)
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Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT
Salt Lake City,
UT
More about me…
Homebuyer Representation, Inc.
Address: PO Box 701481, SLC, UT, 84170-1481
Office Phone: (801) 969-8989
Cell Phone: (801) 999-8889
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