Buying Made Easy

More and more common around the Country the Buyer's Agency is now becoming a regular agreement in New England. Not just Sellers are making sure they are well represented and protected when selling their houses, Buyers are also looking for reliable professionals to make sure their rights as buyers as well researches and market analysis are done to avoid further head aches.

Familiarize yourself with the work performed by a buyer's agent. What are the Buyer’s Agent duties? What to expect? How the compensation is stipulated and all the benefits that comes along with having a REALTOR working exclusively for you.

If you’re looking to buy in the future, you can stay on top of the market by having future listings emailed directly to you as they come online. You set the search parameters and you can opt out at any time. Finally, you can do all of these things without talking to an agent until you’re ready to contact us.

Exclusive Services

In the recent past the real estate industry always represented the seller. The National Association of Exclusive Buyer Agents (NAEBA) is proudly pioneering the nationwide effort to change this. As a result, home-buying consumers have choices today that they once did not have. We are proud of our role in this paradigm shift.

We firmly believe that the home buyer has a right to full and equal representation and service; just as the seller receives from a listing agent. Increasingly, as consumers learn how the real estate industry works, they are demanding the level of service that only an exclusive buyer agent is able to provide. The Exclusive Buyer Agent, therefore, is on the cutting edge of the real estate industry.

Exclusive Buyer Agents can assist you with planning, locating and evaluating property, negotiating price and terms, financing, inspections and more. Insist on undivided loyalty and the protection of your interests. Whether you are a first time home buyer, an old pro looking for real estate for sale by owner, relocation buyer or you're out to just buy a home the best way possible, you owe it to yourself to see how a true Exclusive Buyer Agent can be your best answer to the complexities of real estate transactions.

If you are considering buying a luxury home, finding a resort home, buying a second home, or purchasing an estate home, working with an Exclusive Buyers Agent is particularly important.

We look forward to being of service to you–exclusively!

What is a Real Estate Buyer's Agent?

A real estate buyer's agent represents the consumer who is purchasing the property in the real estate transaction.

A buyer's agent owes full fiducary responsibilities, duties and loyalty to the real estate buyer. The buyer's agent works for the buyer client and has the client's best interests in mind through out the entire real estate transaction process.

The buyer's agent may be compensated in 3 ways:

• By the listing agent (Co-broke)
• Directly by the seller's (for sale by owner) based on the selling price of the real estate property
• By the buyer through a negotiated fee.

Even though the Buyer's Agent may be compensated by the seller's agent or by the seller himself, the Buyer's Agent solely represents and has fiduciary duties to the buyer. Compensation in those situations are due based on the fact that the Buyer's Agent is introducing the buyer to a seller.

It is important for the consumer to discuss the buyer agent's compensation in the initial interview. In many cases it is recommended that the consumer and buyer agent agree to the terms of compensation prior to viewing real estate properties and sign a written agreement based on these terms.

This agreement should spell out the responsibilities of both parties throughout the real estate transaction.

What to Expect from a Buyer's Agent

It's not surprising that most homebuyers hire a real estate agent or broker to help them find a home. Without one, in the time it takes you to find and buy a home, you'd have to learn and put into practice a special set of skills real estate professionals spend years honing. From finding a home and matching you with adequate financing, to negotiating the contract and closing the deal, the real estate agent's numerous duties and responsibilities reflect the often-esoteric nature of home buying. Ultimately, you can expect your agent to guide and assist you through this home-buying adventure. He or she will help you avoid potential pitfalls, and in the end, hand you the keys to your new home.

What Agents Do:

• To help you buy a home, your agent must have a vast working knowledge of the real estate market, including price trends, neighborhood conditions and amenities, real estate law, zoning issues, financing, taxes, insurance and negotiating. The best agents are also "street smart" in the psychology of home buying and the stresses that accompany it.
• During your initial meeting, agents typically help you determine the viability of your wants and needs in both a neighborhood and a home. The agent will help you learn how much you can afford, help you find suitable financing, clue you in on current market conditions and tell you what to expect as you shop for a home. Your agent will also devise a strategy or shopping plan based on your needs, how much you can afford and current market conditions.
• As you shop for your home, you'll likely meet with your agent to tour available properties and discuss myriad details, including a home's pertinent selling points, floor plans, the neighborhood's crime rate and community proximity to schools, shopping centers, cultural activities and work centers.
• The agent is responsible for obtaining disclosures, making sure home inspections and repairs are completed and coordinating the activities of your lender, attorney, roof inspector and other professionals engaged in your purchase. If bargaining over the price is necessary, your agent will be your negotiator, and when it's time to sign the final closing documents, he or she will accompany you to make sure all the "I's" are dotted and the "T's" crossed.
• When you have a question, concern or idea as you shop, your agent should be able to respond either directly or by referring you to someone who can help.

How Agents are Paid

Once you find your home and the deal is sealed, your agent is most likely paid by commission. Typically, the seller pays the commission, making realty services "free" to the buyer. The listing broker, for whom the listing or seller's agent works, typically requires that sellers pay 5 percent to 7 percent of the sales price. Because most real estate transactions involve two brokers - the broker who finds the buyer and the broker who finds the seller -- the commission is usually split 50-50, between the two brokerage offices. Then, within each office, the agent who handled the transaction gets a share, usually half of the 50 percent or about 1.5 percent.

There are a few exceptions to the commission method of payment. If you use a buyer's agent, the contract you could be required to sign may or may not require a fee for services or a fee in addition to the commission. Most buyer's agents, however, simply split the commission 50-50 with the listing agent. In any event, the buyer's agent contract stipulates that the agent works exclusively for you and is more likely to work with your best interests at heart.

Avoiding Dual Agency

More and more, buyers hire a buyer's agent, especially in hot competitive seller's markets and to avoid what's called "dual agency" -- an agent, brokerage or company representing both the buyer and seller. It's only natural for an agent to attempt to sell you listings from her brokerage or company. Legal in many states, dual agency nevertheless comes with an inherent conflict of interest as the agent, broker or company attempts to fairly exercise fiduciary duty, represent two opposing clients and collect the full commission. Some buyer's agents, however, split their time acting as a listing agent. To completely remove the potential of any conflict of interest, exclusive buyer's agents work with buyers and do not list homes for sale.

Conclusion

With so many different types of agents to represent you, take great care in selecting an agent to meet your needs. Ask family, friends, co-workers, other professionals you've hired and others you trust for referrals to agents who have recently satisfied their needs. Also make a list of questions you will ask your Realtor.

The Benefits of Using a Buyers Agent

^{Using a Buyers Representative offers the consumer many benefits.}

Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.

Assist the buyer in determining the amount that they can afford (pre-qualify) and show properties in that price range.

Assist in viewing properties and either accompany the client on the showings or preview the properties on behalf of the client to insure that the identified specifications are met.

Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property. (building department, board of health, special permits, registry of deeds, etc)

Advise the client on structuring an appropriate offer to purchase the selected property.

Present the offer to the sellers agent and seller on the clients behalf.

Negotiate on behalf of the buyer client to help obtain the identified property. Keep in mind that the buyer agent will be doing so with their clients best interests in mind.

Review and explain all legal documents to their buyer client.

Recommendations and assistance in securing appropriate financing for the selected property.

Provide a list of potential qualified vendors e.g. movers, attorneys, home inspectors, carpenters if these services are needed by the consumer.

Most importantly, the buyer would know that they are fully represented throughout the real estate transaction.

If you any questions please feel free to contact me at 508-558-1945.