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The Advantage of a Buyer's Specialist

In the past, when you worked with an agent to find a home, the agent almost always was employed by the seller. That meant that while you and the agent may have worked closely together, he or she had a fiduciary responsibility to always act in the best interest of the seller. Now you can put the agent squarely and exclusively in your corner. 

We can offer you the opportunity to have your own Buyer's Consultant. The concept is relatively new, extremely popular, and could save you thousands of dollars. Premier Living would be pleased to serve you in that capacity. That would mean we would enter into an agreement, become YOUR agent and work diligently to find your perfect home. Your Premier Living agent would be responsible only to you - not the seller. Under this relationship, we will be able to do all of the things listed below under buyer Agent. 

Please Note: Real Estate fees are set with the builder/seller at the time the home enters the market. Therefore, when you work with an on-site agent, the builder/seller has already agreed to pay the fees for buyer's representation. If you do not exercise your right of buyer representation, you are leaving much of your advantage unused. When you work with your Premier Living agent, there is never a charge for our service! 

 

Services & Duties Provided

Seller Agent

Buyer Specialist

Arrange property showings

X

X

Assist with financing

X

X

Provide property data

X

X

Explain forms and agreements

X

X

Monitor closings

X

X

Prepare a property value study

X

X

Provide access to the entire market (listed and unlisted)

X

Promote and protect buyer's best interest; advise buyer

X

Negotiate the best price and terms for buyer

X

Point out reasons not to buy

X

Assist in the offer with buyer's best interest in mind

X

Keep buyer's bargaining position confidential

X

Research property for liens and original purchase price

X

Provide anonymity, if desirable

X

Put the buyer's interest first during the entire buying process

X


This comparison clearly demonstrates the value of the dedicated Buyer's Specialist representing the buyer, over the Seller Agent, who represents the seller only.

 

Research by the National Association of REALTORS has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.

 

The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the entire real estate process.  A buyer's representative will: 

·       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 and locale. 

·       Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met. 

·       Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property. 

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

·       Present the offer to the seller's agent and the seller on the buyer's behalf. 

·       Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind. 

·       Assist in securing appropriate financing for the selected property. 

·       Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed. 

·       Most importantly, fully-represent the buyer throughout the real estate transaction. 

 

The Buyer Representation Agreement

It is important for the buyer to discuss the buyer's representative's compensation in the initial interview.  In many cases it is recommended that the buyer and the buyer's representative agree to the terms of compensation prior to viewing properties, and sign a written agreement based on those terms.  The agreement should spell out the responsibilities of both parties throughout the real estate process. 

In some states, legislation has been enacted to protect the buyer to the point that, absent a written agreement, the buyer's representative represents the buyer throughout the real estate transaction.  Consult your REALTOR for complete details when you begin the purchase process.  


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