A. When a Seller engages the services of a Listing broker by signing an Exclusive Right To Sell Listing Agreement, that Seller becomes the broker's client. This means the broker, and it's subagents, who include all brokers showing the home to Buyers who do not have a Buyer Agency contract or relationship with that broker, represent the Seller. They owe the Seller undivided loyalty, utmost care, disclosure, obedience to lawful instruction, confidentiality and accountability. They Must put the Seller's interest first and negotiate for the best price and terms for their client, the Seller.
Q. What is a Buyer's Agent?
A. When a Buyer engages the services of a Buyers broker by signing an exclusive Buyer Agency Agreement, that Buyer becomes the broker's client. This means the broker represents the Buyer. The broker owes the Buyer undivided loyalty, utmost care, disclosure, obedience to lawful instruction, confidentiality and accountability. They must put the Buyer's interest first and negotiate for the best price and terms for their client, the Buyer.
Q. What is a Disclosed Dual Agent?
A. A broker can work for both the Buyer and the Seller on the same property provided such broker obtains the informed consent of both parties. The broker is then considered a disclosed dual agent. This broker owes the Seller and the Buyer a duty to deal with them fairly and honestly. In this type of agency relationship, the broker does not represent either the Seller or the Buyer exclusively and they cannot expect the broker's undivided loyalty. Also undisclosed dual agency is illegal.
Q. How much does it cost to hire you as my Buyer's Agent?
A. In Real Estate, when buying, whether they represent the Seller or the Buyer all Realtors are FREE. Buyer's Agent offers are written to be paid 50% of the commission paid by the seller to the listing agency, costing you no money. However there are several costs to you, should you not hire the best Buyer's Agent for your needs. A newcomer to the profession with a lack of experience, market knowledge, and negotiating skills can cost you weeks or months of your time. They can cost you money by not knowing the market values, trends, and conditions. Worst of all, they can cost you your dream home by giving you poor advice or by not knowing it was for sale. In most professions the client has to pay a lot more money to have the best representation. A great Doctor, Accountant, or an Attorney with a proven track record will charge a much higher rate than a newcomer to their profession. Since it costs no more money to work with the best real estate team in town, why wouldn't you?
Q. Do I have to sign an exclusive Buyer Agency Contract?
A. Yes. Legally in order to be represented by an Agent whether you are looking to buy or sell a home the process is the same. You typically ask people you know and trust for referrals and interview a couple of Realtors. You ask questions, about the agents services offered, costs, track record and cancellation policies to determine if you would like to hire that professional. We always allow Buyers to have a home buying consultation meeting and to view homes with us for a day, before making a decision to hire us. We only ask for a 60 day contract for areas we service, and allow you the option to cancel or extend the contract depending on your home buying needs, with no upfront fees and no penalties or fees if you cancel for any reason.
Q. What are some of the exact differences between Seller's Agent and a Buyer's Agent Services?
A.Seller Agency Customer Level Services
Ask Buyer for price range, pre-approval and home buying preferences over the phone.
Set Buyer up on www.WilliamsTeamRealty.com with log in and password to search all available
home matching their needs.
Daily updates include price changes, new listings as well as ability to change criteria at any time.
Ability to search entire MLS with photos, addresses and complete details.
We will schedule all appointments with listing agents and sellers for homes of interest.
Point out all pros and benefits of each home viewed.
Same day responses regarding all matters. (Note buyer clients take priority)
Return calls and e-mails during home search process and contact weekly from offer to close. Follow up with Buyer once in new home.
Provide Seller Disclosure Statement if available.
Prepare and present offer immediately to listing agent. (must legally recommend Buyer to offer full price)
Disclose all Buyer information to the Seller to fulfill my fiduciary responsibility to the Seller to
represent their best interests.
Oversee and coordinate all transaction processing including appraisal, mortgage
commitment, and financial requirements.
Attend home inspection and present Seller with any Buyer concerns.
Arrange and attend final walk through and closing.
B. Buyer Agency Client Level Services
In depth face to face Buyer consultation asking many questions resulting in buyer articulating
and prioritizing home buying needs, concerns and expectations. Obtain copy of Buyers pre-
approval letter
Set Buyer up on www.WilliamsTeamRealty.com with log in and password to search all available
homes matching their needs.
Daily updates include price changes, new listings as well as ability to change criteria at any time.
Ability to search entire MLS with photos, addresses and complete details.
We will schedule all appointments with listing agents and sellers for homes of interest.
Document the pros and cons of each home viewed, provide impartial advice.
Same day response regarding all matters. (Note buyer clients take priority)
Contact Buyer weekly during home search process and contact weekly from offer to close.
Follow up with Buyer once in new home.
Provide market analysis. Obtain assessors field card, property plot plan and Sellers Disclosure Statement.
Consult Buyer regarding negotiation strategy and preparation of offer to purchase. Present offer to listing broker immediately.
Keep all Buyer information confidential to fulfill my fiduciary responsibility to the buyer in
protecting their best interests.
Oversee and coordinate all transaction processing including appraisal, mortgage
commitment, and financial requirements.
Attend home inspection and consult Buyer regarding any concerns from inspection.
Arrange and attend final walk though and closing.
No comments:
Post a Comment