Having a Niche is Nice . . . The Added Value of Having a Buyers Agent
My, be it ever so humble, niche is:
Exclusive Buyer Agency
My clients are ALL BUYERS in the Portland Metro real estate market. While I could take listings and represent sellers, I have niched to Buyer Agency - Buyer Broker - services EXCLUSIVELY!
When a Buyer engages my real estate services -- they know one thing: There are NEVER going to be any conflicts of interest -- ever.
What is the Added Value in Having a Buyers Agent
For starters . . . a Dual Agent -- or the Disclosed Limited Agent, as the State of Oregon designates this real estate agency relationship -- can not favor one party over the other.
As an Exclusive Buyers Agent my duty is, was and will be -- that of a TRUE FIDUCIARY to the Buyer. I DO favor my clients -- the BUYERS. And it shows with the 100% Buyer Agency representation they get . . . more importantly . . . deserve!
Why is that Important?
When a Buyer contemplates a house to purchase and (sadly) agrees to the "Disclosed Limited Agent" the listing agent CAN NOT run a comp for the Buyer. Period.
The Disclosed Limited Agent can not advice the Buyer that another property just listed . . . and it's a BETTER DEAL and would work so much better for their wants/needs.
The Disclosed Limited Agent can not work in the best interest of the Buyers.
The Buyer, without proper Buyer Broker representation will never know what the current market value is on a home they want to buy. The listing agent can not run "comps" for the Buyer under the Disclosed Limited Agent scenario.
By doing so would be a conflict. It would allow the Buyer to know that perhaps the listing was OVERPRICED to begin with.
The Added Value of a Buyers Agent
Currently, I have been noticing the "comps" of some properties that are sold by the listing agent. When both the listing agent and selling agent are the same, I see no reduction in listing price.
In one example, the Buyers purchased a property for CASH, as documented in the listing sheet under "Terms." The property was OVERPRICED -- by $100,000.
I know the area and the market. Had the CASH BUYERS used my real estate services as their Exclusive Buyers Agent . . . I would have / could have run a COMP for them and showed them this property WAS NOT priced to current market and was OVERPRICED by $100,000.
It would have been their choice to offer less, or move on to another property.
As a Buyer, know this:
Using the listing agent can COST Buyers money
Using the Buyer Agent can SAVE Buyers money!
I tell Buyers about the legal real estate agency relationships that are defined under Oregon statute.
I ask: Why would a Buyer want a LIMITED agent?? Their duties will be . . . LIMITED!
I Have a NICHE
~~ and that's Buyer Agency EXCLUSIVELY ~~
and that's NICE for Buyers!
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