Long Island Homebuyers ~ Buyer Representation

Buyer representation on Long Island is still in its infancy, but the tide appears to be turning as more agents are embracing the concept.  REALTORS®, like many people, are often times resistant to change even though change is inevitable.  While there may still be some resistance to buyer representation on Long Island, more and more agents are getting the education necessary to properly represent homebuyers. 

According to Jim Pugliese, one of the instructors of the CBR (Certified Buyer Representative) designation course, the amount of agents getting the CBR designation on Long Island has increased dramatically.  This designation course used to be given only once or twice each year on Long Island, and it is now given monthly, usually to a sold-out crowd of up to 75 agents at a time.  Increasing the amount of Certified Buyer Representatives is a step in the right direction, as it will allow Long Island homebuyers to have the same type of representation that is offered in most areas of the country (including upstate New York).

So what spurred the interest in buyer representation after many years of largely ignoring the practice on Long Island?  First and foremost is the fact that today's consumer is more educated, and thus more demanding of the service professionals that they choose to work with.  The more sophisticated buyers understand, or at the very least are open to the idea, that having their own representation is the way to ensure that their best interests are being served.

Another contributing factor to the shift towards buyer representation on Long Island is the fact that buyers are looking for the best possible deal on their purchase.  It wasn't long ago that homebuyers on Long Island would have to decide (virtually on the spot) if they were interested in a particular home.  There wasn't much time for decision-making, or room for negotiations for that matter, in the red-hot seller's market.  As the market cooled, and inventory rose, the buyers became much more selective of the homes that they view, and ultimately make offers on.

The market trends on Long Island vary from town-to-town and from school district-to-school district.  In some cases, there is such a large gap between the entry level homes and luxury homes within the same market that the trends may vary depending on price points.  Now, more than ever, Long Island homebuyers need to have their own representation to help guide them through the home buying process, especially if they are looking to get the best possible deal on their purchase. 

Long Island homebuyers will ultimately benefit from buyer representation, but it will take education for them to fully appreciate the advantages of having a "client" relationship with their agent, rather than a "customer" relationship.  This post is merely an introduction to buyer representation, and will be followed up by a series of posts in the coming weeks further explaining the benefits of buyer representation to Long Island homebuyers.  

Please check back regularly for updates, or if you'd prefer, you can contact me directly and ask to be put onto a list to have future posts on this topic e-mailed directly to you.  Thank you.