HERE'S A QUICK WAY TO DETERMINE WHO REPRESENTS YOU AS A BUYER - If you work with the real estate agent who listed a property, that agent's allegiance must go to the owner of the property.
- If you work with a real estate agent without a signed agreement, that agent's allegiance is split between you, as the buyer, and the owner of the property.
- The only way a real estate buyer has rights to complete allegiance from a real estate agent is when you work with a Buyer's Agent and enter into an agreement with that agent - much like the owner of the property who enters into an agreement with the listing agent.
IF YOU'RE REPRESENTED, YOU CAN SAVE TIME AND MONEY! Buyer's Agents have a legal and ethical obligation to do things only in your best interest. For that reason, a Buyer's Agent: - can show you any home, regardless of who listed it
- can legally negotiate in your best interest, without any responsibility to the seller
- can legally disclose any available information about the property or the seller
- can legally provide extensive information about the property and community
- can legally keep information about your budget or negotiating position private
Because of the negotiating position you're in with a Buyer's Agent, you can often save thousands of dollars on a single transaction. And, the Buyer's Agent has no reason to "sell" you one house vs. another, so you get 100% true professional representation, 100% of the time! SEE HOW EASILY YOU CAN BE PROTECTED The agreement for buyer representation is called a Buyer Broker agreement. These types of agreements were not common when I first decided to focus on representing buyers. Today, these agreements are very commonplace. The reason? Consumers are demanding their own representation and protection. Buyer brokerage has been endorsed by consumer advocates such as Ralph Nader, Money Magazine, Kiplinger's Changing Times and the Consumer Federation of America, among many others. The Buyer Broker agreement formalizes the relationship between the buyer and the real estate agent. The agreement eliminates any confusion as to how the agent will represent the buyer, and it defines the services that will be provided under the agreement. WHEN SHOULD YOU SIGN A BUYER BROKER AGREEMENT? If you're not a serious buyer, you probably shouldn't sign a Buyer Broker agreement. If you are a serious buyer, you should get the protection you need by signing an agreement with the best Buyer's Agent you can find! * * * * * When it comes to Pocono Mountain real estate or Lake Wallenpaupack real estate, we at Realty Executives Summit may just be the Buyer's Agents you're looking for! You'll get the power of my over 50 years of experience in the Lake Wallenpaupack real estate market. Learn more about how we can assist you, or give me a call at 570-226-3444. Once you know the difference between partial representation and 100% representation, the decision is an easy one! Jim Marshall |