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Why Do You Need A
Buyers Agent?
Everyone in the Commonwealth of Massachusetts is entitled to be
represented by a Real Estate Firm. This was not always the case!
Historically, both agents represented the seller since that party was
paying all commissions. Now agencies may represent either the buyer,
the seller, or both parties at the same time in any transaction. Each
client, whether they are buying or selling, would be required to sign a
representation agreement to secure their professional services.
In most cases, the payment of the Firm’s professional service fee would
be generated from the proceeds of the sale and still paid by the
seller. Should, however, the consumer prefer alternative solutions, the
fee could be structured in other ways to suit the situation.
All
clients are entitled to absolute confidentiality, obedience to lawful
instruction, full disclosure, accounting of all funds and
paperwork, and reasonable care to protect you from foreseeable risks in
your real estate transaction.
The Commonwealth now permits certain in-house sales to be considered
“arm’s length”. Not all firms will offer this service.
Designated Agency is permitted when one Agent of the Firm has listed a
property for a Seller Client and another Agent of the Firm has a Buyer
Client for that property. In this situation, each Agent may offer Full
Representation to each of their clients without being considered Dual
Agents. All that is required is written permission from the clients who
are involved.
Buyers
Get Representation, too!
You
may now secure a real estate agent to represent your needs in the most
important purchase of your life. Although no retainer fee is necessary,
written authorization in the form of a signed agreement is recommended
prior to any research being done, or property being shown. Failure to
do so could jeopardize your negotiating position.
A success fee for services rendered is paid to the REALTOR from the
proceeds of the sale. In most transactions, the property chosen by the
buyer is shown through the Multiple Listing System. In these situations
the Listing Agency shares their fee with the Buyer’s Agent as a “reward”
for bringing a qualified buyer with an offer that has terms and
conditions the seller may accept.
Your interests may also be represented in “For Sale By Owner”
situations. You are entitled to information and have the most to gain
through Confidentiality, Guidance, and Advice. Our fee will be paid
from the proceeds of the sale. Without a buyers agency agreement,
the agent is obligated to represent the seller.
It is better to have your agent negotiating for
you than against you. Without the Buyers Agency Agreement, your
agent is by law required to do just that.
What I
Can Do For Our Buyer Clients and Seller Clients
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I can
provide you with all types of information regarding the process, the
property, or the current market conditions.
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I can recommend and direct you to
other experts and professionals that have information you need that
is outside our area of expertise.
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I can keep all information about
your finances and motivations for buying or selling strictly
confidential, not even any of our other clients are entitled to know
such information.
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I can watch out for your interests
and make sure that you are not taken advantage of by anyone within
your buying or selling process.
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I can give you our professional
advice and guidance.
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I can give you choices and inform
you of the possible effects of those choices, both positive and
negative.
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I can help you plan a successful
offer and negotiating strategy.
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I can disclose material facts and
defects about any property.
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I can direct you to our website
http://www.callkathyc.com
for town and school information or crime statistics.
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I can direct you to town hall to
discover any/all future development that might affect values before
you decide which community to settle in.
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I can direct you to a national
website http://www.apbnews.com for more information on convicted
sexual offenders before you decide what neighborhoods you might want
to live in.
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I can tell you how to get
information from the seller regarding deaths, AIDS, or ghosts if you
want to know.
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I can provide my Clients complete
fiduciary responsibilities
comprising:
Obedience to lawful
instruction;
Undivided loyalty placing
your interests before our own.
Full disclosure of all
material facts and information to your transaction that are not
protected by our other client relationships.
Confidentiality, even keeping
your name anonymous in your transaction.
Full accounting of all money
and paperwork in your purchase or sale.
Reasonable care and diligence
to protect you from foreseeable
risks.
Services
I Can’t Provide to My Clients
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I can’t make decisions for you and I
won’t take responsibility for your good or bad decisions.
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I can’t tell you any confidential,
financial, or motivational information that we may know about any of
our other clients.
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I can’t lie, cheat, or steal for
you.
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I can’t hide material facts and
defects about any property or pretend they don’t exist.
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I can’t guarantee to help you buy
property below market value and I can’t guarantee to help you sell
your property for more than its really worth or more than the market
will bear.
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I can’t tell you where to live, what
community is best for you or what neighborhood you should live in.
Those are your decisions to make.
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I can’t tell you what school system
your children should go to; only you can know what is the best
environment for your family.
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I can’t tell you if there have been
safety problems in the neighborhood. Only the Police Department
knows every detail regarding a neighborhood or community’s safety
statistics.
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I can’t tell you what the community
has proposed or planned for some future time that may or may not
happen such as shopping centers, exit/entrance ramps, highways or
anything else that might affect your future property value.
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I can’t tell you if anyone who lived
at a property died there by natural or other causes, had HIV, if the
property is haunted or if any Sexual Offenders live in the
neighborhood.
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I can’t get any rebates or kickbacks
from any professionals I may recommend that you use.
Dual
Agency: Benefits to All!
Dual Agency occurs when the Listing Agent is the Buyer’s Agent as well.
Neither client suffers in this type of transaction. All clients receive
complete confidentiality, obedience to lawful instructions, disclosure
of all known material defects & accountability.
Since clients are represented by the same agent each client receives
equal treatment and equal information. The agent is able to structure a
mutually beneficial sales arrangement for all concerned. Problems are
resolved easier since each client has their own exclusive Legal
Representation as their agents facilitates their transaction.
Return to Find My Dream Home
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Opportunity. Equal Opportunity Employer.