Buyers

Why you should consider a BUYER’S AGENT to represent you!

• In a nutshell, to insure that YOUR BEST INTERESTS are represented!
• Understand that the LISTING BROKER represents the SELLERS best interests, not necessarily yours.
• The BUYERS BROKER (Agent) will typically represent YOUR BEST INTERESTS at no charge to you!!

A COMMON SCENARIO: You walk into an OPEN HOUSE, find it is the perfect property for you and want to acquire it! WHAT IS THE BEST WAY TO PRESENT YOUR OFFER? You should be asking yourself the following questions:

• Do you allow the Open House Agent who normally represents the SELLER to write your offer ……………or?
• Wouldn’t it be advisable to discuss your offer strategy with an Agent who represents your best interests and who has local market conditions knowledge?
• How much should you offer?
• How do you verify the property is everything it appears to be?
• In the event the property has “issues”, how do you avoid wasting your time and money?

For the best answers to these questions, it is most helpful to understand how “the Real Estate Brokerage system” typically works!

The SELLER’s situation: The Seller likely contracted a Brokerage Firm to represent them in LISTING their property for sale on the MLS (Multiple Listing Service). This “SELLERS BROKER” normally receives a pre-contracted percentage of the sales price as commission for services rendered and therefore owes a FIDUCIARY RESPONSIBILITY to the SELLER. (When you, the BUYER, are represented by your own Agent, he/she will normally earn half of that pre-contracted commission offered by the Seller ………..when you are not represented, the Buyer Broker receives all of the pre-contracted commission).

The BUYER’s situation: You need someone working for you! Because most Real Estate Brokerages are members of the MLS and therefore have visibility of all Listed Properties, it is usually a different Brokerage which finds a BUYER for the property. This Brokerage (via a “Cooperating Brokers Agreement”) will normally receive half of that pre-contracted commission for services rendered as your BUYERS BROKER (Agent). Your BUYERS BROKER would then owe a FIDUCIARY RESPONSIBILITY to YOU, the BUYER.

WHO REPRESENTS YOU? If the same BROKER represents both parties, the relationship is known as DUAL AGENCY and that Broker receives all (both sides) of the pre-contracted commission. In this situation, because of the inherent “conflict of interest”, the DUAL AGENCY BROKER usually takes on the role of a “REFEREE”. Understand your situation! While Dual Agency can work quite nicely in certain situations, ideally, YOU should have YOUR OWN REPRESENTATION!

THE SOLUTION? Get your own Agent! Better yet ………Have Dennis represent you …………….that’s why this website is here ……..FOR YOU! Begin by using the powerful PROPERTY SEARCH module to find potential candidates for your Dream Property. Then, contact Dennis for additional information and possible showings. Links are provided throughout this website for additional general information which may be of interest to you and assist you as a Buyer. When you are ready, CLICK HERE to contact Dennis!