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Buyer Representation – How Can We Help?

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Real Estate Agent with Savvy + Company (704) 491-3310 228209

Buyer Representation – How Can We Help?

Buyer AwarenessQuestion:   Do home buyers need the help of a Buyers Agent?

Answer:   You bet !  When buyers work with a real estate professional who is 100% loyal and completely committed to them, chances are that the entire home-buying process will go smoothly, with a higher level of buyer satisfaction.

 Question:   What is a Buyers Agent?

Answer:   A Buyers Agent works solely for you and has no legal or other responsibilities to the seller.*  When working with a Buyers Agent, you have the advantage of personal representation, independent counseling, loyalty, confidentiality, and trust.  On the other hand, while helping you present an offer and then negotiate and close a transaction, a general real estate agent has certain fiduciary responsibilities to the seller and agent of any property you choose.

                  *In a case where the property your agent is representing you to purchase is also that agent’s listing, dual agency applies.  Talk to your agent for more information.

Question:   Can a Buyers Agent show us the same properties?

Answer:   Yes, a Buyers Agent can show you every home listed in the REALTOR®’s Multiple Listing Service (MLS), PLUS Real Estate Owned (REO) and For Sale By Owner (FSBO) properties. Additionally, a Buyers Agent can show you builder models to select your own, brand-new properties and unlisted homes.

Buyers in Charlotte NCQuestion:   Will a Buyers Agent disclose more information to us?

Answer:   Yes indeed. Because Buyers Agent's fiduciary responsibility is to you, he or she can be more forthcoming with any negative aspects about properties that you are investigating for purchase.

Question:   Does a Buyers Agent make decisions for us?

Answer:   No, absolutely not.  As your personal ally, advocating your best interests, Buyers Agent is obligated to provide you with maximum information about buying a home, each step of the way.  That means disclosing specifics about location, property values, offering price, negotiations, counteroffers, contingencies, financing, and the entire closing process.  Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.


Comments(13)

Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Debe,  So true, you really do want someone representing YOU, the buyer, but I think customers are confused why they need this.  Nice post to help clear up the confusion.  All the best, Michelle

Jan 03, 2010 04:20 AM
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Debe - Great information here about buyer agency and the many benefits a consumer has with their buyer agent.  It is still one of the most misunderstood aspects of the real estate process.  We like to say to our clients that we are their advocate when we represent them, whether it be buyer agency or seller agency.  They feel comfortable knowing they have someone that truly represents them.  ~ Chris

 

Jan 03, 2010 04:30 AM
Stephanie Reynolds
Integrity First Financial Group, Inc. - Santee, CA
East County San Diego Homes 619-838-4408

Great post Debe! It is important for the consumer to understand the difference between agency relationships. With a buyers agent one can be assured that their best interests are being looked out for!

Jan 03, 2010 04:32 AM
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Great breakdown of a buyer's agent and the points that the consumer can get more educated on!

Jan 03, 2010 06:16 AM
Frank & Jodi Orlando
Frank & Jodi Orlando Get Us A Home Realty Atlanta Homes Sale - Cumming, GA

Debe, good idea to blog this. Even some of us veterans get lulled into forgeting that many folks in the general public do not realize what we do as a buyers agent. Nothing wrong with getting back to basics.

Jan 03, 2010 06:52 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Debe, By giving your buyers all possible information in order for them to make an informed decision when making an offer is key to building trust and maintaining good client relations. Pat Kennedy mentioned your post and I enjoyed it very much! Thank you.

Jan 03, 2010 07:03 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thanks to Pat Kennedy for leading me to your post about buyer representation. You answered the question well.

Jan 03, 2010 07:27 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Deba,  Very well written and aducational post.  This entire cioncept is not well understood by buyers !   Happy 2010 to you !

Jan 03, 2010 07:47 AM
Tracy Santrock
Santrock Realty Group Inc. , - Cary, NC
Raleigh - Cary Broker

Outstanding advice!  Glad I stopped by the Week in Review!

Jan 03, 2010 08:49 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Pat Kennedy sent me here. Great blog, Debra. It is so true that many home buyers don't know what a buyer's agent can do for them. I showed buyers a home yesterday, and they told me they had an appointment with the listing agent of another home to see that home next week. After I finished explaining to them how agents work, I asked if they wanted me to show them that home. Absolutely, they replied, and they understood why they would be better off being loyal to one agent. But before they walked in the door, they hadn't a clue.

I think as agents we need to stop to consider that not everybody deals in real estate day-in and day-out like we do, and some of the things that we take for granted, buyers have no knowledge of. It pays to go over the basics with them so they are armed with knowledge.

Jan 03, 2010 09:03 AM
Nathan Tutas
Tutas Towne Realty, Inc. - Davenport, FL
Your Central Florida Real Estate Expert

I've found so far that explaining all of these things to my buyers while they are reading through the BBA has worked well. Some people (friends of mine in particular) think my job is just driving around showing houses to people. They have no idea what we do.

 

TNT

Jan 03, 2010 12:02 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Great overview of the agent's duty to a buyer and certainly one that should make the buyer comfortable that their interests are being fully represented.

Jan 03, 2010 01:18 PM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

This is a great resource for buyers anywhere, Debe. I hope you don't mind if I reblog...it definitely compliments something I wrote before the end of the year, to a degree.

Jan 03, 2010 03:58 PM