loyalty: Buying a Home in Salt Lake County, UT - Buyer's Real Estate Agents
- 01/05/16 07:59 AM
Most in the real estate industry represent sellers. Training seminars and classes for agents are heavily focused on increasing listings. "Get more listings" is the industry secret. "It takes 4 times as much time to work for a buyer as it does for a seller." When listings generate calls and inquiries from buyers, sell the houses or hire new agents to write up the paperwork for the buyers, top producing agents are told. Ironically, this whole setup leads to buyers not really getting a real estate AGENT at all! An AGENT is supposed to represent a client. To be loyal to them. To … (0 comments)
loyalty: Types of Real Estate Agents and the Best Agent for Buyers
- 10/15/13 09:03 AM
Different Types of Real Estate Agents Listing or Seller's Agent: These agents are the "traditional" type of real estate agent. A listing agent works on behalf of the seller and represents them, looking out for their best interest in the transaction. Buyer's Agent: A "Buyer's Agent" is usually a traditional agent who is working for a buyer in a transaction. The "buyer's agent" may also work for sellers in other transactions as their listing or seller's agent. Dual-Agent or Limited Agent: An agent who works for both the buyer and the seller in the same transaction in the capacity of a … (2 comments)
loyalty: Two Buyers, One House... One Agent?
- 10/09/12 10:15 AM
Let's talk about agency, representation, and conflicts of interest. We received a call today from a gentleman who had just fired an agent he had been working with for a few months. We'll call him Bob. Bob and his agent were out together looking at a HUD home when a man "off the street" came to the door and asked to see the home. Bob's agent let the prospect in to tour the home and spent time with the man, giving him her card as he left. Later, when Bob expressed a desire to write an offer on the home, his agent informed him … (5 comments)
loyalty: 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)
This post started as a response to comments in another blogger's comment thread on the topic of how messed up the real estate industry is in the areas of representation and how compensation can tempt agents to do things that are not in their client's best interest. The discussion started over whether or not buyers or sellers were getting true representation and loyalty from their agents, or if the agents were only looking out for themselves and/or the companies they work for. There was discussion over whether it was ever right to double end transactions (get paid twice as … (8 comments)
loyalty: Agency Disclosure - The Fleecing of Real Estate Consumers Continues
- 03/15/12 07:33 AM
I've been following the efforts of a colleague in Maryland who believes exclusive buyer representation should be disclosed to consumers as an option on the state's agency disclosure form. I read an article on the topic in the real estate section of the online Baltimore Sun. The Director of Regulatory Affairs for the Maryland Association of Realtors, Mark Feinroth, stated that the suggested changes would cause "a big change in agency law that's really unwarranted." Agency -- who's representing whom -- "is already the most difficult concept to train licensees in, and it's a very difficult concept to explain to consumers," Feinroth said. "I think this will make … (8 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)
loyalty: The Highest Level of Representation for Buyers
- 11/03/11 09:40 AM
My last blog entry was a testimonial from me about my new dentist. What does that have to do with buying a home? Lots. Everybody should know about biomimetic dentistry and doctors like Dr. Noot. I really connected with him and his practice because: 1. He really cares about what is best for his patients. 2. He takes the time to educate his patients about what is going on. 3. He lets the patient make the important decisions regarding their care. 4. He has gone the extra mile in his personal training and education in order to provide his patients with … (0 comments)
loyalty: 25 Reasons to Hire an Exclusive Buyer's Agent
- 03/24/10 09:18 AM
Exclusive Buyer Agents: Do not list homes or represent sellers Work for real estate companies that take no listings Work solely for the buyer Remain loyal to the homebuyer throughout the transaction Avoid conflicts of interest inherent in the traditional seller-oriented purchase transaction Never represent the seller in a real estate transaction Are less than 1/2 of 1% of all real estate firms nationwide Offer a unique relationship of trust to real estate buyers Offer a higher degree of loyalty to a buyer than an agent who also works on behalf of the Seller Do not practice dual-agency Are 100% loyal … (2 comments)
loyalty: Relocating Client of Exclusive Buyer's Agent: "I got more than my money's worth"
- 09/15/08 06:12 PM
Category: REAL ESTATE AGENTS Work Done: Yes Hire Again: YesApproximate Cost: $12,000.00Description Of Work:Benjamin Clark is an exclusive buyer's agent, representing buyers only in real estate transactions and in our case, for the purchase of a primary residence in Salt Lake. He showed us over 150 homes in the four months we spent house hunting and patiently educated us about every aspect of making a real estate transaction, including mortgage analysis, the importance of home inspections and home warranties and negotiations with the seller. He is a FORMIDABLE and SKILLED negotiator and will work extremely hard to negotiate the BEST DEAL … (2 comments)
loyalty: Roy Home Buyers Find Success by Hiring Exclusive Buyer's Agent
- 05/29/08 07:54 AM
Wow, where do I start relaying my experience of buying our first house? First, I guess you can say that my husband and I are very cautious people. We do a lot of research before buying any large-ticket item, whether it be a lawnmower, a washer, a car, etc. So when it comes to a HOUSE, I started researching a year before we even began to look. I spent hours researching on the Internet, and I even began watching HGTV shows that involved buying houses to get an overview on the home-buying process. It was from watching some of these shows … (1 comments)
loyalty: Salt Lake Named one of the Best Cities for Bargain House-Hunting
- 02/08/08 02:15 AM
In the evening edition of Forbes.com 2/7/2008 an article titled "Best Cities For Bargain House-Hunters" names Salt Lake City, Utah as one of the Best Places to buy real estate in today's market. (Salt Lake is ranked #1) What exactly do they say? "They'd be smart to look for markets where job growth is strong, foreclosures are relatively low and inventory is high. With these factors in place, buyers can still dictate terms of sale and negotiate prices, but aren't as exposed to the economic and lending risk problems that have sunk many markets around the country. "Good places to look? Salt Lake City and Raleigh, N.C., … (4 comments)
loyalty: Why is Signing a Buyer-Agency Agreement That Important?
- 05/07/07 05:02 PM
Our Buyer-Agency Agreement requires us to be legally responsible and accountable to you. A Seller's agent, by law, must work in the best interest of their client, including giving any learned information about the Buyers to the Sellers. This can hurt your bargaining power and cost you money. We work in your best interest. We are obligated to get YOU the best price and the most savings possible. In Utah, if the listing agent tells you she will work with you as your "buyer's agent", you will be asked to sign an agreement limiting your representation. This agreement usually states that the … (3 comments)
Most in the real estate industry represent sellers. Training seminars and classes for agents are heavily focused on increasing listings. "Get more listings" is the industry secret. "It takes 4 times as much time to work for a buyer as it does for a seller." When listings generate calls and inquiries from buyers, sell the houses or hire new agents to write up the paperwork for the buyers, top producing agents are told.
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