He sold homes he did not even own - why you need a buyers agent?

Reblogger
Real Estate Agent with LoKation Real Estate 3087750

Please take a moment to read this outstanding post by Nick & Trudy Vandekar, 610-203-4543  about why you need to hire a buyer's agent for a real estate transaction.  It is vitally important!  They tell an unbelievable story of what happened where they live in Pennsylvania.

 

Although we are in south Florida, it makes no difference.  It costs a buyer nothing to hire a buyer's agent - it's FREE.  What have you got to lose?  The listing agent works for the seller.  The name on the sign works for the seller.  The builder's salespeople work for the seller.  They are nice, but they are not on your side. 

 

You aren't going to save on the commission.  You aren't going to get a better deal if you show up without an agent - in fact, you may do worse.  You can read an article I recently wrote on Why You Need A Buyer's Agent For New Consruction here.  It applies to resales as well as new construction.

 

Buyer Beware!

Original content by Nick Vandekar, 610-203-4543 PA License - AB067198

Why do you need an agent when you buy a home?

 

He sold homes he did not even own!

Can you imagine buying a home only to be told later you don't own it. Or being arrested for breaking and entering when you rented a home but the landlord did not really own it.

Why do you need an agent when you buy a home? There are lots of reasons, but let's take this case which hit the news here recently. And I know as people read this they will say I would know there was a catch, it was too good to be true. But these stories are repeated over and over in different ways.

A man was recently charged for theft, identity theft and forgery after changing the ownership of the houses in the county records to show his ownership. He never actually owned any of the properties. Ne never purchased any of the properties. But he then flipped four of the properties and rented out a fifth.

When selling these properties he did not use an agent and neither did the buyers. None of the sale had title searches conducted, none of the sales adhered to guidelines offered by the National Association of Realtors.

No sales agreement was used. The whole story is here.

There were so many red flags to those of us in the industry that we cannot believe this could happen. But there are many people out there who think they are getting a deal and so don't need an agent to represent them. These people do not understand the transaction, think they can invest a little bit of money and make a killing are exactly those who need an agent representing them.

Buying real estate you need a buyers agent to guide you through the process and make sure it abides by state rules and regulations. Every state has different rules and regulations, they may be similar but if you get it wrong it can cost you. Why put your money and yourself at risk, use a local buyers agent. They have a fiduciary duty to protect you and put your interests ahead of everyone else, including their own. What are they worth? Peace of mind and knowledge that the law is being obeyed and you are purchasing something which is protected by title insurance and is safe.

Whilst a buyers agent gets paid by the seller, it is their job to explain their value to you, if they cannot do that adequately, then find a different buyers agent. My reviews by past buyer clients tell how we explained the process to them, made sure they hit their deadlines correctly, negotiated on their behalf, providing guidance throughout the transaction. Check out your agent on line, see what is being said about them.

Don't become a victim of fraud or ignorance. Let a buyers agent guide you, counsel you, protect you and get you into a home in which you can be safe and secure, knowing you are protected from any claims upon it.

So put your mind at ease, contact Nick Vandekar, Tredyffrin Easttown Realtor, with Long & Foster Real Estate, Inc. today at Nick@VandekarTeam.com, office 610-225-7400, cell or text 610-203-4543 and put your mind at rest when buying in Tredyffrin Easttown and in surrounding areas along the Main Line. We Sell the Main Line.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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Comments (5)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Elyse - I missed this post but this really says it all.  What a mess.

Apr 14, 2018 05:05 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Elyse. It does pay to have an agent represent you at someone else's cost! Enjoy your day!

Apr 14, 2018 05:11 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elyse, great choice for a reblog, and I missed this one.    It is amazing all the antics we see in this industry!  

Apr 14, 2018 07:51 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

This is really a tale of caution for those who think they can save a few bucks. Great re-post.

Apr 14, 2018 08:37 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

The services of a Buyers agent are invaluable...this is certainly an example of exactly why such a position is worth seeking out an experienced agent.

Apr 16, 2018 03:29 AM