Are you a BAINO?

Think we have enough acronyms in this business? Here's a new one for you: BAINO.

Buyer's Agent In Name Only.

What the heck is that? It's someone who throws around the term BUYER'S AGENT loosely, and says they represent the buyer, yet their actions say otherwise.

You might be a BAINO if:

- You ask the buyer what they want to offer on a property, without running a CMA for them first (to support the value).

- You write up that offer, and APOLOGIZE to the listing agent for the fact it's not "high enough."

- You tell the listing agent "It's just an opening offer, a place to start discussions."

- You tell the listing agent, "I don't know if they'll go to $150,000 but I think I can get them up to $140,000"

- You advise the buyer to skip inspections, because it's new construction, or because the house looks well taken care of, or whatever.

- When the appraisal comes in lower than the agreed upon price, you advise your buyer to just make up the difference so we can all move forward.

- You tell your buyer "this is just the way we do things" instead of advising them everything is negotiable.

- You don't listen to the buyer's needs and concentrate on YOUR needs.

- You push a deal through no matter how rocky it gets or how wrong it starts to feel.

- You keep the train going even when the buyer wants to jump off

- You concentrate on your PAYDAY more than what the buyer wants or needs. (All prior lines refer back to this last point).

Remember, if you WORK for someone, REPRESENT someone, you have a fiduciary responsibility to that person. Their needs and desires supersede yours. 

NOT ALL BUYER'S HAVE BUYERS' AGENTS. No matter what your agency agreement states, if you don't act in the best interest of your buyer, you are not working FOR them. You are slipping across that line into working just for YOU and your payday.

 

(photo courtesy http://www.flickr.com/photos/phobia/)

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.