This was my slogan when I first opened my buyer brokerage in 1992.  At that time, there were only a handful of buyer brokers in Massachusetts and the phrase generated some interest as to what buyer representation was actually about.  

In those days, I had a full-page ad in a couple of the homes magazines with my slogan across the top.  With the advent of the Internet, marketing methods have changed and my once beloved expression had fallen by the wayside. 

I have recently decided to reintroduce my old motto since I think it still aptly describes the need for a buyer broker to assist a person in one of the most important investments they will ever make. 

What exactly does a Buyer Broker do? 

I could recite a laundry list of items that you should expect from a good buyer broker - so, I will:

• Assist you in finding the best mortgage loan provider for your needs
• Prepare a thorough property value study of the property you are interested in
• Represent you on all kinds of properties, including for-sale-by-owners
• Promote and protect your interests at all times
• Advise you, the home buyer, on the quality of the home, even pointing out reasons not to buy
• Research the property's history, neighborhoods and abutting land
• Negotiate a price and terms that are favorable to you
• Seek out and provide inside information to enhance your bargaining capability
• Withhold private information about you and your financial situation

A buyer broker works for you.  As such, one is duty-bound to research and discover anything that may affect your home purchase.  

A buyer broker has a fiduciary responsibility, just as an attorney does.  Your private information must remain so and your position needs to be protected at all times.  This is part and parcel of home buyer advocacy. 

Finding the right home to suit your needs is an important part of the process but once the property has been located, there is much more ahead. Following the negotiation and acceptance of your offer, these further steps need to be attended to: 

• Recommend a thorough and reputable home inspector who will work for you
• Attend the home inspection
• Renegotiate for problems uncovered by the home inspection
• Recommend a good real estate attorney
• Work in conjunction with the attorney during the purchase and sale process
• Set up and conduct a final and thorough walk-through of the property
• Renegotiate if there is anything wrong with the property at the time of the walk-through
• Attend and monitor the closing

This is, and has to remain, an incomplete list of duties since unforeseen circumstances frequently arise at the last minute and it is your buyer broker's obligation to make sure that all loose ends are tied up to ensure that you have a successful and smooth closing. 

As a buyer broker, the goal is not to sell you a home, but rather to provide a valuable consultation service to help you search for, find and successfully procure the best home for your needs.   

So, if you are - Buying a Home - definitely - Don't Do it Alone! 

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Copyright 2009 - Claudette Millette, President, TheBuyersCounsel - 800-392-1446  - E-mail    

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