What Should Buyer's Know About Buyer Representation Benefiting Them!
As an Accredited Buyer's Representative (ABR), I receive an informative monthly update regarding buyer representation. Often buyers do not understand that it benefits them to have their own agent before they shop for a home. There is an article in January 2012 Volume XX1 Number 1 of "Today's Buyer's Rep" that contains helpful information for buyers regarding agency.
The article explains that a possible dispute could arise between agents if the buyer proceeds with a purchase after demonstrating purchasing interest with more than one real estate agent. The article goes on to explain, "This is one reason why it's in everyone's best interest, including yours, to shop for an agent before you shop for a home, and to formalize your relationship with a signed buyer representation agreement. Buyers have nothing to lose, because you can expect a higher level of service, typically for no additional cost."
Typically, the seller pays the commission and it is shared by the seller's agent with the Buyer's Rep and also split with both Brokers. The buyer typically doesn't have to pay the Buyer's Rep. Either way the seller pays the same commission that's already agreed to in the listing.
When Janet Naisbitt-Bagley represents you when you purchase your home, she and her licensed assistants go many extra miles in order to give you top service. With their top training, top experience and top negotiating skills, they work hard to help you make your real estate dreams come true. Call Janet's team at 435-865-1019 today and experience why they are known as the real estate team that cares about you.
Another reason it is important to have your own buyer's agent is to keep your private information confidential. When you share your financial details, you want the real estate agent to be obligated to keep those facts confidential. If you have a buyer agency agreement signed with your REALTOR, he is obligated to keep that information confidential even if you purchase one of his listings.
However, if you share your private information with the seller's agent without any agency agreement, that seller's agent is obligated to share your private details with the seller because he represents the seller--not you. For example, if you do not have your own agent and you have the seller's agent show you a home, if you tell the seller's agent you want to offer $80,000 for a home but that you are really willing to pay $100,000, that seller's agent has a legal fiduciary responsibility to tell the seller you are willing to pay $100,000. Do you really want the seller to know that up front? NO! Give that kind of information only to your own agent that is representing you.
The article explains, "In return for providing these services and assisting you with various transaction details, buyer's agents expect you to remain loyal to them..." Ideally, you work as a team to achieve the results you want.
The article states, "Most importantly, you should discuss expectations early on . . ." "Taking time to discuss shared expectations at the beginning of your relationship is the surest way to avoid misunderstandings and form a strong partnership--one that allows your buyer's rep to serve you to their greatest ability and help you achieve the best possible result in your home purchase."
Take a look at the gorgeous homes for sale including short sales, foreclosures and other bargains at www.homesincedarcity.com. Then call Janet Naisbitt-Bagley at ERA Realty Center at 435-865-1019 or 800-934-3742 or email naisbitt@infowest.com for your free tour of homes that interest you. Experience the difference with Janet's experienced, trained, top service team that cares about you! We'll work hard to make your transaction fun and easy.
Posted at 03:01PM Feb 11, 2012 by Janet Naisbitt-Bagley in Real Estate | Comments[0]
