buyers agent: Taking the fear out of buyer agency agreements - It's all about YOU! - 11/10/08 04:53 AM
So much confusion abounds in regards to buyer brokerage agreementsand most of that is because of the lack of explanation that the agreement(contract) is not about the agent or the brokerage. Here's a revelation:
It's all about you!
The buyer agency & brokerage agreement protects and serves you in many ways:
Notice- The document puts the sellers & sellers agent on notice that the buyers have their own representation during the transaction and are accepting the brokerage compensation that the sellers offered. (Nearly 100% of the time the brokerage compensation offered by the sellers to the buyers agent is more … (22 comments)
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buyers agent: Macomb County MI real estate - Your agent can narrow down your search for foreclosures only. - 08/21/08 05:36 AM
To my knowledge, there isn't a way for buyers searching the internet (Realtor.com, Homegain, the local MLS feed) to enter search criteria for bank owned homes (foreclosures) only.In Macomb County MI there are 2 Multilist data sources: Mirealsource™ and Realcomp™. Some real estate agents belong to one. I pay dues and belong to both.If you are looking for foreclosure homes only (bank owned homes) in Macomb County and want to weed out the private sales, short sales and homes for renting you will have to ask the buyers agent you chose to sort through the list for you. This list can … (8 comments)
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buyers agent: 200 square feet less? Thousands of dollars. A buyers agent? Priceless. - 05/13/08 09:10 AM
***Shameless self promotion of the value of a buyer agent ahead***I've been having a wonderful time over the last couple of weeks with young buyer clients. They are first time home buyers in Macomb County. The interaction has been very good. They are such a nice young couple, eager, and knowledgable. I now know what makes their eyes light up and what makes them cringe when viewing homes. They also are keenly aware of the fact that I work for them and not for the home sellers.
Over the weekend we viewed a home that has been on the market quite … (22 comments)
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buyers agent: Cookie cutter subdivisions & online "value" guess-timates - 04/05/08 05:45 AM
A buyer client was wandering around the Internet the other day and called me asking about a home for sale that he saw on one of those real estate sites that also provide online value estimates.
He was excited because one of the homes we are viewing this afternoon with a listed price of $125,000 is in a neighborhood that this real estate site has valued at between $135,000 and $172,000. We had a quick chat about online values and how the data is gathered and then had a more intense chat about how value is really determined and more … (16 comments)
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buyers agent: The truth about "Zero Down" advertising - 03/25/08 05:46 AM
In the Metro Detroit area the popularity of FHA and VA mortgages is higher than I have witnessed in years. One of the reasons for the increasing use of these mortgages is the potential for the borrower to acquire a home for no money down.
"Teaser" ads that I'm seeing in many places tell potential buyers that they can purchase a home with "Zero Down". This is true. With the VA program this can be done. With FHA a down payment assistance program is needed.
What the "teaser" ads fail to mention is that you will still need money in your pocket/ … (15 comments)
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buyers agent: Ignore the pre-approval amount - what payment are you comfortable with? - 03/16/08 06:24 AM
I was chatting with a young man the other day that is beginning his home search and we were discussing mortgage pre-approvals. He and his wife had talked with a mortgage lender previously and had been given an amount that they were qualified to purchase.
My comment to him was “Talk about what payment you are comfortable with first, then ask the lender to look at the whole picture and give you a purchase price based upon the mortgage payment you want.” I think this is so important, more important than the ever quoted “pre- approved amount”.
In Macomb … (22 comments)
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buyers agent: Feedback after viewing a home - from a buyers agent perspective - 03/09/08 07:10 AM
I have decided to make this a public post, so that home sellers could see why there willbe times they won't receive detailed feedback after showings, and for home buyers to know thatthe art of negotiations is an area that buyers agents pride themselves on.************************************************************************I could spend an hour today commenting individually to several posts made in the last 48hours by sellers agents complaining about the lack of feedback or lack of detail in thefeedback they receive after showings.Last week I left comments in a couple of posts with the same complaints: "Why won't buyers agents do their jobs and give … (30 comments)
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buyers agent: "For personal safety reasons I do not meet for the first time at a vacant home" - 02/11/08 05:29 AM
There has been much written about the dangers of being a real estateprofessional today and real life situations that sadly have turnedout tragically. Please use my personal "script" - it works and Idon't feel the least bit tempted by the unknown caller or guiltyfor saying it. Repeat after me: "For personal safety reasons I do not meet for the first time at a vacant home".Repeat it again: "For personal safety reasons I do not meet for the first time at a vacant home."Repeat it as often as necessary until you are sure those words are coming out of your mouth with … (36 comments)
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buyers agent: "The Process": An explanation for first time home buyers in Michigan - 12/29/07 07:19 AM
In other areas of the country after you’ve come to a written agreement with the seller of the home you wish to purchase and the processing of the transaction begins it is called “in escrow”. In Michigan we call the work that takes place “The Process.” Ok, not too original, but it works for us. There is so much that goes on behind the scenes that you, the buyer, have not encountered before. Different people involved in the transaction and hired by you will be doing their jobs diligently to make sure that the Process runs smoothly and in approximately 30 … (14 comments)
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buyers agent: What you see is what you get - no kidding! - 12/28/07 06:04 AM
Have you looked at my photo? It isn’t a glamour shot. No fancy “make me look gorgeous for the moment” photo. I’m in my late 40’s and don’t try to hide it. Yet. ( I reserve the right to do so at a later date.) I haven’t had time for a manicure in a month. My hair could also use a touch up to cover some of the gray that’s showing up, but I’ll get to that. Sometime.
My car? I drive a Ford Taurus. Sometimes it looks as if I live in it because my files and notebooks and an … (28 comments)
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buyers agent: Be a good neighbor - overprice your home! - 11/17/07 04:57 AM
In Macomb County Michigan there are a few things that you can do that will make you popular with your neighbors.
Be helpful to your neighbors.
Keep the outside of your home well maintained.
Don't be the "nosy" neighbor.
Put your home up for sale and overprice it.
How does overpricing your home help your neighbors? There is a simple explanation for this reasoning. I, as a buyers agent, will show my buyer clients the comparable sales for your neighborhood. It also means that my buyers will be well educated as to the value of your neighborhood. When you've overpriced your home for the … (35 comments)
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buyers agent: The skinny on buying a HUD home in Macomb County. - 11/16/07 06:06 AM
In Michigan there is a new company handling the HUD homes that are for sale and the processing of bids on these homes.
The process hasn't changed for the home buyer and many times I'm asked "How hard it is to buy a HUD home in Macomb County?"
It isn't difficult at all, it is merely different than purchasing a home that is owner occupied.
The most common differences are these:1) HUD requires an earnest money deposit that is in the form of a certified check or a money order made out to the buyers agents real estate company. For homes under $50,000 the … (4 comments)
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buyers agent: Michigan home buyers - You have the right to remain silent. - 11/04/07 04:21 AM
As your buyers agent I have many responsibilities. One of myduties is to negotiate on your behalf when you've chosen thehome you want to purchase.When we are out viewing homes that you have expressed an interest in most of the time the sellers of the home are not present. The agent that works for the seller will tell their sellers that a buyer will linger longer and talk more freely if the seller leaves during viewings. On the rare occasion that a homeowner is present during our viewing time I will ask you to remain silent. I will encourage it. No, this … (14 comments)
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buyers agent: From the "Buying a Home" series of articles -- What is RESPA? - 10/22/07 06:10 AM
As home buyers begin their online search for information in regards to thehome purchase process they will be confronted with terms that many havenot seen before. One of these terms is RESPA.Here is the definition you would find if you landed on the HUD website:The Real Estate Settlement Procedures Act (RESPA) is a consumer protectionstatute, first passed in 1974. The purposes of RESPA are:
to help consumers become better shoppers for settlement services andto eliminate kickbacks and referral fees that unnecessarily increase thecosts of certain settlement services. I'd like to concentrate this article on one section of RESPA - section 8:Section 8 … (4 comments)
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buyers agent: Priceless advice - K.I.S.K. - 10/06/07 10:24 AM
In the real estate industry, especially in my real estate market in Macomb CountyMichigan, we are often called for feedback from a sellers agent after viewing homes with our buyer clients. I do my best to return those calls quickly, as I know that the shoe is often onthe other foot and my seller clients are anxious to hear what the buyer thought of their homeand the buyers agent opinion.I've always been careful as a buyers agent to not give away too much information as I workfor the buyer and won't take away any future negotiating power. For example, if I respondedto the sellers agent: "My … (36 comments)
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buyers agent: Home buyers - Why do I invite you to my office? - 09/29/07 05:15 AM
If you are thinking about purchasing a home and have inquired about my service to you asa home buyer I will more than likely ask thatour first meeting place be at my office. There are a few exceptions to our first "gettingto know you" meeting at my office. If you are relocating from another area then I'msure most of our talks will happen via email and phone.We can accomplish much in this manner but I'm sure faceto face is preferable to all of us involved. Another exception would be distance and lack of free time on yourpart because of work or family … (11 comments)
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buyers agent: Go ahead, pinch me! - 09/19/07 06:25 AM
We've all come across those homes while house hunting that scream"Get me out of here". Whether it's the clutter, the pet odors, the dirtthat you don't want to see anymore of or a combination of all of thesethings there is on occasion going be a home that you want to exit quickly.Thankfully there aren't that many homes in the Macomb County Michiganreal estate market that scream "Get me out of here!" but once in a while itdoes happen.
If the home is vacant there isn't a reason to continue viewing the entire home.Things can get a bit touchy though if the sellers are present and … (16 comments)
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buyers agent: A buyers agent is an understanding agent. - 09/13/07 06:29 AM
Home buyers today are more educated about thehome buying process than they were years ago.They hear the term "buyers agent"and have an understanding of whatthat means and how that benefits themduring the entire home purchasetransaction.In Macomb County Michigan I'm findingthat future buyers are asking aboutbuyers agency and representation uponour first contact more than ever. I'm excited about this trend and sincerelyhope it continues as I'm a firm believer that as a buyeryou should have someone in your corner that represents youand your needs during the transaction.There are some areas of concern to a buyer that crop up duringthe home buying process that once … (20 comments)
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buyers agent: Tim & Jeni Baldwin epitomized "Location, Location, Location" buyers - a true story. - 09/05/07 05:57 AM
I would like to introduce you to Tim and Jeni Baldwin and Carol, Jeni's mom. (It was nice meeting you today Carol!)
Tim and Jeni graciously gave me permission to tell you their story about their first home purchase. They were also wonderful sports about having their photos taken without any notice or warning. Look at those smiles! Aren't they precious? One of the things I love most about Tim and Jeni is that they are always smiling and are such warm and genuine people. Tim and Jeni are a young, newlywed professional couple. In December of 2006 they contacted me to … (26 comments)
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buyers agent: What benefit do I bring to you as a buyers agent? - 08/13/07 07:57 AM
Do I need a buyers agent when I am starting the home buying process?
This is a question I am asked frequently and although there are wonderful articles written about the role of a buyers agent I wanted to write about what I do personally when I represent a buyer in their home finding process and purchase.
I believe there is a real need to explain the role of buyers agency to a prospective home buyer, especially if this is their first purchase. Below is the timeline during most typical home purchase transactions and what I as a buyers agent do for my … (6 comments)
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