buyers: Buyers Stand to Lose the Most from Recent Commission Lawsuit Proposals
- 03/18/24 08:33 PM
Recent developments regarding real estate brokerage fees harm one party in the real estate transaction far more than the other... The buyer. While those applauding the proposed settlement terms talk about how much of a win this is for consumers, if nothing else changes, the proposed agreement is about as anti-consumer as it can get. Under the imperfect compensation model of the past, buyers were able to have their representation costs included in their purchase transaction. Arguments aside, this is the main reason this model has stood for so long. If no other changes are made in the industry, the proposed settlement terms … (5 comments)
buyers: The Appraisal Contingency in Utah May Protect the Buyer
- 08/12/19 02:34 PM
In Utah, THE APPRAISAL CONTINGENCY allows a Buyer to cancel the contract and have their Earnest Money returned, if the property under contract appraises for less than the contractually agreed price. This contingency has deadlines by which the appraisal and cancellation need to be made. Almost ALL Buyers should include an appraisal contingency in their offers. Some cash buyers who plan to live in the home a long time, some investors, and some other buyers may decide to forego an appraisal contingency. Usually even these buyers will only do so if they are extremely confident in their valuation and if after … (0 comments)
buyers: What Agents Know about Buying a Home that Buyers Don't
- 12/09/14 03:24 AM
I came across the following post and thought it illustrated well why people should get their own agent when buying a home. The original post was by John G. Johnston, Broker/Owner of John G. Johnston & Associates LLC, an Exclusive Buyer Brokerage in Westcliffe, CO.
This House is worth $499,000
Save Time ~ Save Money Spend 5 minutes with an Exclusive Buyer’s Agent
The listing agent’s thinking $650,000. The Owner’s thinking $599,000. You’re thinking $550,000. We’re thinking $490,000. Maybe you should think about calling us! Representing People ~ Not Property If you are thinking about purchasing a home ~ … (3 comments)
buyers: 5 Reasons to use an Exclusive Buyer's Agent (EBA) when Buying a Home
- 11/13/14 07:29 AM
1. You Become A Client (Not A Customer) According to the National Association of Realtors, If you work with the seller's agent, you are not a client, you are a customer. "As a customer, a buyer is not represented by [the] agent... the agent cannot negotiate on the buyer's behalf nor reveal to the buyer any confidences of the client, the client is the seller." If instead, you hire an agent to represent you and your interests, your agent CAN negotiate on your behalf and CAN reveal to you anything they learn about the seller or the home that could benefit you in negotiations, or which … (0 comments)
buyers: Common Myths and Misunderstandings about Shopping for Homes
- 08/19/14 06:27 AM
The following is a reprinted article from Today's Buyer's Rep Magazine, A publication of the Real Estate Buyer's Agent Council, Inc. You’ve been searching for homes online, driving by interesting properties in your car, and found one that looks perfect. What do you do next? Contact the agent featured on the yard sign and the online listing? While that may sound like the most logical step, it’s a common home buying mistake based on several myths and misunderstandings: Assumption: It’s best to contact the listing agent because they’re already familiar with the property. Sure, the agent on the yard sign knows the … (1 comments)
buyers: Pre-Qualification? Pre-Approval? What's the difference?
- 09/20/13 06:29 AM
Pre-Qualification is NOT the same as Pre-Approval. Pre-qualification for a mortgage loan is simply a mathematical look at the buyer's stated income and debts that produces a maximum home price the buyer could afford. There is no checking of credit and no verification of any of the information provided by the buyer. A loan pre-approval won't be provided from a lender until a buyer's credit has been run, the buyer has been evaluated for credit risk, their financials have been looked at more closely, and the lender is confident that everything should go through with the buyer's loan provided normal follow-up conditions … (3 comments)
buyers: Salt Lake City #6 on List of Best Cities for 20-Somethings
- 09/19/13 03:39 AM
Salt Lake is always making the best places to live lists, so this isn't too much of a surprise. In addition to being one of the best places for 20-somethings, Salt Lake is also THE best place to live for new grads, and the 2nd best place to live for women's health. Links are in the article on greatest.com: http://greatist.com/health/20-best-cities-20-somethings If you're thinking of making Salt Lake City YOUR best place to live, make sure you call us for the best real estate representation option for buyers! Do you have excellent credit? Do you plan to purchase a $300,000-$800,000 home within 60 … (0 comments)
buyers: Highly Recommended Exclusive Buyer's Agent
- 09/17/13 11:04 AM
Ben was recommended to us by friends of ours who previously used his services to purchase a house. We knew when we would begin looking and also knew from our friends that he only accepted a limited number of clients at a time. So, we called him early in order to reserve his services a few months down the road. Even though we were not officially signed with him, he spent time answering our questions and helping to get us prepared for the process of buying a house. As we had a house to sell, and didn't know where to start with that, … (0 comments)
buyers: Repeat Clients are the Best!
- 09/13/13 09:35 AM
I love working for repeat clients! Repeat clients are clients who loved working with me so much, that when they buy again, they call me back! Here are a few testimonials from some past clients: "We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. Benjamin was extremely responsive and even did virtual walk-throughs with us via video on the web. With his help, we found the ideal home. Benjamin came up with a brilliant approach that gave us a real advantage in the … (4 comments)
buyers: Why I Represent Buyers ONLY
- 09/10/13 05:15 AM
Most real estate agents represent sellers. Everybody knows that. Right? As an industry insider I'll tell you why: Most training, seminars, classes and continuing education are geared toward getting more listings, i.e. representing sellers. Buyers? They are "customers" who come to buy the houses being sold. Even agents who like to work with buyers are trained to "get" them through listings. Open houses for listings is a way to find unrepresented buyers. Toll-Free numbers on signs "capture" buyer's phone numbers. Flyers and ads with critical information missing are geared toward getting buyers to call the agent for the information which has … (6 comments)
buyers: Exclusive Buyer Agency In the News
- 09/04/13 08:02 AM
I came across an old article in Kiplinger's Personal Finance touting the benefits of hiring an Exclusive Buyer's Agent (E.B.A. for short). The point of the article (and it's title) was: Hire your own AGENT Buyers and sellers, have different interests in a real estate transaction. Sure, one wants to sell and the other buy, but both want to get the best deal. Independent representation makes sense. Two competing sports teams both want to play the game, but both want to win. They both have independent coaches to help them achieve their goals. So it should be with real estate. Exclusive Buyers Agents work only for … (1 comments)
buyers: More on Legal Documents, Representation and Compensation
- 10/01/12 07:44 AM
Our company NEVER lists homes or represents sellers. We only work for buyers and stay 100% loyal to the buyer throughout the transaction. Some things in this industry bother me. One thing that bothers me A LOT, is to hear that a consumer has been given a legal document that says one thing in writing, but the person with the training and the license to present that document for a legally binding signature says something completely different when explaining the document to the consumer. (Read the first half of this blog entry for some additional background as to why I'm using … (26 comments)
buyers: Wussy Disclosure - A black mark on the real estate industry
- 07/24/12 06:50 AM
I just read a blog entry by an agent who was reacting to a recent article about REALTOR's rejected request for commission from a buyer who, according to the story, was hurriedly asked to sign a Buyer-Broker Agreement because it was necessary in order to submit an offer on a house. According to the story, the details, terms, and responsibilities of the Buyer-Broker Agreement were not clearly explained to the buyer. The deal didn't work out and they went on their way, later purchasing a home directly from a builder. I read the article and it sounds like the agent did not take … (25 comments)
buyers: Get Your Own Agent - It's common sense, right?
- 07/20/12 01:40 AM
Yesterday a client asked me why we have a website telling people they should get their own agent when buying a home. "Everybody already knows that, right?" I let her know that MOST people out there don't know that. She didn't believe me. "You mean there are buyers that contact the agent representing the seller, instead of getting someone to represent them?" I told her it happens all the time. And it's not a few people. It's a LOT of people. She couldn't fathom it. Which I can understand. Our clients are smart people. They would never even consider that it … (7 comments)
My commitment to you: 1. I will be your Exclusive Buyer Agent (EBA). Because our company does not take listings or ever take on sellers as clients, we will never ask you to agree to less than 100% representation. 2. We will not "switch teams" or change allegiance mid-transaction. You will start with an EBA and you will end with an EBA. 3. I will ALWAYS take YOUR side in … (2 comments)
buyers: Advanced Negotiations
- 01/02/12 01:04 PM
I'm currently serving as the Secretary for the National Association of Exclusive Buyer Agents and prior to the upcoming annual conference I'm taking another negotiations course in Texas. The course, titled "Advanced Negotiation Techniques for Buyer's Agents" will help me develop effective negotiations plans for my clients and negotiate more effectively on their behalf. Although I earned the Certified Negotiations Expert designation years ago and I regularly read books and articles on effective negotiating, and although I successfully negotiate for numerous buyer-clients each year, I'm excited to pick up a few more tips and tools, brush up on my skills and … (2 comments)
buyers: First Time Buyers - Should You Buy a Home in 2012?
- 11/09/11 06:32 AM
Low interest rates and still falling home prices make it tempting to buy a house now, but before purchasing, wise buyers are looking at their big picture.Most of those who will buy homes in 2012 will buy because it makes sense for them to do so. Security (at their current employer and in their current field) has a strong impact on the decision to purchase or not, even more than low interest rates.Interest Rates and Mortgage Insurance Low interest rates sound good, and are good, but what isn't talked about much is that the cost of mortgage insurance has almost doubled … (0 comments)
buyers: Research Scientists Share Benefits of Hiring an Exclusive Buyer's Agent when Buying a Home
- 10/18/11 07:01 PM
Our Exclusive Buyers Agent (EBA) was a pleasure to work with because of his laid back, no-pressure approach. His only motivation was to help us find the right house for us, not to sell a home. He never pressured us to consider a home we were not interested in. Rather, he suggested we see many homes so we could figure out what we actually wanted, and what we did not want. When we had a disagreement on which house we liked better, he made sure to let us come to our own conclusion. We are very happy with how it turned out, and … (1 comments)
buyers: Military Buyer Chooses an Exclusive Buyer Agent (EBA) with Great Results!
- 10/03/11 01:28 PM
I’ve done extensive research in home buying over the past few years. I knew the only way to go was an EBA (Exclusive Buyer’s Agent), but I didn't know of any in Utah. Fortunately, a random internet search brought up Benjamin Clark with Homebuyer Representation. I called him, and then met him in person. He was easy to work with and has extensive knowledge of the home buying process. He was always willing to take time to answer my questions and explain anything I didn’t understand. I was purchasing a second home and Ben kept me on the right track … (0 comments)
buyers: Hire a professional, not a fortune teller who lost their crystal ball!
- 06/14/11 10:17 AM
Many buyers ask their agents questions about what they think the market/seller/interest rates will do. It seems the prevailing attitude by many real estate agents is to laugh off such questions, or retort with a witty comment such as, "My crystal ball is on the fritz." Their response is more like that of the famous Magic 8-ball: "Reply hazy. Try again." And try again they do. Because they didn't hire a fortune teller to help them buy a home, they hired what they thought was a real estate professional. Have we hit bottom? Should I wait to buy a home or … (5 comments)
Recent developments regarding real estate brokerage fees harm one party in the real estate transaction far more than the other... The buyer.
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