Why would a buyer not want to get professional representation in a real estate transaction?  The reasons I hear relate to two things - 1. A person doesn't understand the advantages of buyer agency and 2. they feel they can save money by going directly to the seller. 

 Buyers can get full representation from an experienced agent that knows up to the minute market conditions and sees 100's of properties for sale each month FOR FREE!  If you are buying real estate in the Ann Arbor-Ypsilanti-Dexter Michigan area, you probably know that prices are very volatile and that corporate relocations and bank forclosure properties can change pricing in a subdivision over night.  Going directly to the seller and perhaps "saving part of the commission" may cost you thousands by not knowing about the other great deals that an experienced agent can turn up in this market.  

 When I enter into a buyer representation or buyer agency agreement with a client,  I let them know up front that if they are not satisfied for any reason with the service they are getting I will cancel the agreement at anytime, creating a worry free agreement.  I have never had anyone cancel an agreement with me, but I take the pressure off of my clients by this service gaurauntee.

 I would like to hear examples of where an agent saved a client money through buyer representation, also if you are a buyer and you saved big by going directly to the seller, I would like to hear about this as well.

 Thanks.

 

5 Comments on The Advantages of a Buyer's Agency Agreement

JUL
25
2007

Andy You hit it on the button, as you know when there is that loyalty binded by an agreement, the buyer is surely getting the representation as required by law.  It is our fault (realtors) for not educating the buyers so they understand the process.

I had a buyer call me on one of the listings in the office. I asked him if he was working with an agent and he said yes , he wasnt going to tie himself to one realtor.  I told him that he should find one realtor that he feels comfortable with and work only with one realtor.

7:28pm • #2
Hi Missy,  I'm back! and have lots of blog post to write!  Did you know that Jim Cronin from the Real Estate Tomato is going to be a KW Mega Agent Camp?
7:37pm • #3
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The agreement says it all and I explain every inch of it to my clients.  If a person is unwilling to sign the agreement then I won't work with them-sorry I need to be assured I am going to get paid for my hard work and time I put in.  I haven't had this happen yet but I am sure I will.
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I know I know you still want me to go. Did you hear about my daughters wreck ? No way I can do it now. Or this event.
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Andy Piper

Ann Arbor, MI

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Ann Arobr real estate-Piperpartners.com

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Andy Piper's view on Ann Arbor Homes, Real Estate and Community News. Thoughts and information on real estate marketing, Internet and technology.


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