Some things just aren't taught in school. I have always believed that there are many things that, if taught in school, would make life easier and more successful for many of the next generation. 

"Utah lawmakers right now are considering a bill, sponsored by Sen. Patricia Jones, D-Holladay, that would set up an enhanced financial literacy program in the state's public schools. Kids would learn about basic budgeting, banking, investing, home buying and borrowing in ways that are integrated with their normal curriculum." (Jay Evensen, Deseret Morning News, February 10, 2008)

One thing that should be taught young is this: Homebuyers have the right to full representation.

Agency disclosure laws require that Buyers be told about this fact, yet by the time they are told, it is often already too late. In some states, including Utah, a Buyer can be tied to a REALTOR® simply by looking at a house with them. (Even if they have signed nothing!) It's called "Procuring Cause" and it means that even if you later find out that your agent really represents the Seller, the Buyers-side commission will go to that agent, not an agent you hire to represent your interests.

the best agentsToday, there are more and more intelligent homebuyers aware of the fact that they can hire an agent to represent solely their interest. Many buyers who seek out exclusive representation today would never have thought to do so except that they had a bad experience or two buying a home "the old way."

Many thought their agent represented them because they told them they could be their "buyer's agent." It often wasn't until further into the transaction that they realized that the agent really worked for the seller. At that point, it may have been too late, or it would have cost them extra to hire their own representation.

It's better off to begin the process with your own agent on your side. The best agents represent buyers only and take no listings, thus avoiding the conflict that exists when the agent or broker also represent the seller.

Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Areas. We do not list any homes. We never represent Sellers. We work for BUYERS ONLY on the Buyer's side of the real estate agents on the buyers sidetransaction.

We work to get BUYERS the Best Price and Terms when they Buy... 

We're "Real Estate Agents who Represent the Home Buyer" TM

If you have excellent credit and are thinking about buying a $250,000-$500,000 home in the Salt Lake area in the next 30-60 days, call us at (801) 969-8989 or contact us via the link on this page.

 

©2008 Homebuyer Representation, Inc. All Rights Reserved

 
This post has been included in Utah Information
Post is included in group: Flat Fee & Discount Brokers

3 Comments on Some Things Aren't Learned In School - Like How To Buy A Home

FEB
13
2008
362,595 Points 46 Featured Posts Outside Blog
Ben - I agree with you completely and I am a strong advocate for buyers agent representation.
5:23pm • #1
FEB
14
2008
736,353 Points 65 Featured Posts Outside Blog

Great points and I think you should do some home buyers seminars to teach this to people. I do a lot of these seminars and you will be amazed at the turn out and how many buyers' agency contracts you can have signed by the end of the night! If you invite a mortgage broker to the event, you can also have pre-approval letters to go along with the buyers' agency agreements!

12:37am • #2
FEB
28
2008
372,676 Points 3 Featured Posts Outside Blog
Great post. I like Todd Clark's idea about the seminars.
6:48am • #3

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Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT

Salt Lake City, UT

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Address: PO Box 701481, SLC, UT, 84170-1481

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