Homes for Sale: Home Buyers & First Time Home Buyers are starting to understand the importance of working with a Buyer’s Agent, preferably a Broker and Owner, who is qualified and experienced to represent their best interest. Enlightening Buyers to the benefits that Buyer Brokerage offers has been challenging and some have learned the hard way.
Many Home Buyers contact agents through Zillow, Trulia, Realtor.com, or the recommendation of a friend. Before they know it, they’re being shown properties by this Agent. Who does this Agent represent? The Agent you’re working with must specifically state that they are: A. representing you as the Buyer; and B. Enter into a Buyer Broker’s Agreement and C. sign a New York State Disclosure Form for Buyer and Seller, reflecting they are acting on behalf of the Buyer. If these issues are not addressed, then the Agent is by default working to get the best price and terms for the Seller! Many Buyers find this out too late! As a Licensed Real Estate Broker, Owner and ABR*, based in Port Washington, NY, I hear the horror stories, then pick up the pieces and make things right.
Recently, a client retained me because they had a bad experience with another agent. They had been working with an agent for almost 3 months, saw over 40 properties and then chose to make an offer on a property. Sounds ok so far; the problem was that the Agent was also the Listing Agent for this property. After 3 months of working hand-in-hand, where did the Agent’s loyalties lie? As the property’s Listing Agent, she was an Agent for the Seller; and without the aforementioned executed documents, she was always working for the Sellers. At that time, the Buyers asked for the agent’s best advice on the amount and terms they should offer. With a direct conflict of interest, this deal went south fast and created ill-will between the Buyers and the agent, resulting in the Buyers seeking the services of an experienced Buyer Representative.
These Buyers then did their due diligence and found a highly credentialed Accredited Buyer’s Representative, ABR* representing the National Association of REALTORS for: Port Washington, Sands Point, Manhasset and the North Shore of Long Island, NY, since 1985; me, William Bodouva.
This story ends happily, as an experienced ABR*, and I stress “experienced,” I found a better property for them by searching the same area for their needs and wants in a higher price range, then negotiated on their behalf to procure the property within their price range. It was better than they had ever hoped for.
How much did my client’s pay me to find their dream home at a price they never thought possible? Nothing. For all property listings extended through MLSLI, the Buyer Agency Compensation is paid by the Seller at the closing from the proceeds of the sale. Superior Buyer Representation at no cost to the Buyer, you can’t beat that!
My message to all Real Estate Buyers; whether you’re at the beginning of your search, or have been looking for a while, contact me asap , I’ll search properties that meet your specific criteria, find the best property for you, negotiate the lowest price, best terms and guaranty a smooth transaction.
If qualified, I’ll get you Pre-Approved for a Mortgage in 30 minutes, while searching for your new home. A Preapproval Letter is imperative to strengthen any offer!
Contact me for your free copy of The National Association of REALTORS* Home Buyer’s Toolkit.
William N. Bodouva, Jr. ABR*, SFR, E-PRO, SRES, RSPS, RETC
Telephone: 516-815-6600 or E-mail: wnb@wnbre.com
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