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Buyer Agency |
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A Win/Win Situation
Why Buyer Agency? When someone decides to sell their home, and they list
it with a Realtor, that Realtor then represents the seller’s best interests
in marketing their home. The Realtor takes the responsibility of
obtaining the best price and terms on any offer that is presented to the
seller. The Realtor also advises and protects the seller in all
transactions. The selling agent, the agent who brings the sellers a
buyer, will also represent the seller as a sub-agent or represent neither
party as a transaction broker. Who, then. Represents the buyer?
The answer is…NO ONE! What is Buyer Agency? When someone becomes a buyer, they deserve to be
represented by a Realtor who has the buyer’s interests in mind and who is
not a sub-agent of the seller. This is where BUYER AGENCY comes into
play. A Buyer Agent is a Realtor who is engaged to represent the buyer
in the negotiation and purchase of their next home. The Agent is then
legally free to advise the buyer and represent them without straddling the
fence of divided loyalties. Your agent owes only honest dealing to the
Seller, nothing else! The Agent works for you! Having this
unconditional loyalty is brought about by signing what is known as a Buyers
Agency Employment Agreement. How does Buyer Agency work? Once a Buyer’s Agency Employment Agreement is signed I
now represent you, the buyer! I will get to know what you want and how
much you want to invest. I will also become familiar with your needs
and desires in order to find a home that fits those needs. I will work
for you a pace that is comfortable to you and that fits your lifestyle.
I will also listen and counsel you according to our knowledge of the
ever-changing Once you have found the home of your choice, I will then help you to arrive at a fair price and terms, as well as, negotiate on your behalf with the seller. Then, we will shop for the best loan for you, and follow through, tendering to every detail to make sure your home closes. Many of these services are done by Our Team as a normal part of any transaction. However, my limitations are removed with the Buyer Agent Employment Agreement. The Advantages to You, The Buyer: Stronger Negotiation Position: As your exclusive
agent, I will actively participate in negotiating price and terms to better
protect and promote you as a buyer. More Loyalty: My fiduciary responsibilities are
now to the people that we are going to be spending the most time and energy
with you the buyer. More Trust: When both the buyer and myself have
made a moral commitment to work together as a team, each of us can feel more
at ease and thus develop the trust that is essential in such an important
endeavor. Wider selection of homes: If needed, I can now
include previewing “For Sale by Owners” and other properties such as Bank or
HUD Homes, as well as, new listing inventory that may not be on the multiple
listing market. (This includes builder speculative building
inventory). More Fun: When everybody feels more comfortable,
educated, and at ease, it is more fun and less stress for everybody. Who Pays? The Seller The cost of using a buyer agent is determined at the
time the Buyer’s Agency Employment Agreement is signed. The fee for
the Buyer Agency is not less that 3.0% or what the Seller has agreed to pay,
per the Multiple Listings System, whichever is more. If the perfect
home is “For Sale By Owner”, it is typically negotiated between the Broker
and Seller. However, if the Seller not willing to negotiate the
brokerage fee, the fee may be the responsibility of the buyer. You have a choice. You can choose to work with an agent who represents the seller, neither party, or an agent who exclusively represents you, the Buyer. Because cost is not a factor…which would you prefer? |
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Brandon Smith Broker Associate
The Platinum Group Realtors 719-955-8578 Direct 719-955-8579 Fax 877-270-1432 Toll Free
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