Buyer Representation
Once you learn the basics of agency law,you will more than likely come to the same conclusion that most of our buying clients reach: your preference will be to be represented by a "buyer's agent." We completely agree with that conclusion, as this is the alternative that is most logical in such circumstances. The goal of a buyer's agent is to find the perfect point of connection between the homes available in the market and the needs and financial capacity of you, the buyer.
A buyer's agent, under a Buyer Agency agreement, acts solely on behalf of the buyer. A subagent of the buyer is one who has agreed to work with the buyer's agent and who, like the buyer's agent, acts solely on behalf of the buyer. Buyer's agents and their subagents will disclose to the buyer known information about the seller which may be used to benefit the buyer. The duties a buyer's agent and subagent owe to the buyer include:
- Promoting the best interest of the buyers
- Fully disclosing to the buyer all facts that might affect or influence the buyer's decision to tender an offer to purchase real estate
- Keeping confidential the buyer's motivations for buying
- Presenting all offers on behalf of the buyer
- Disclosing to the buyer all information about the willingness of the seller to complete the sale or to accept a lower price
The bottom line: a Buyer's Agent represents YOU, the purchaser. Here are some of the advantages of this relationship when working with a Professional One Real Estate agent:
- We'll respect the price range that you have established (we'll never show you homes beyond your price range)
- We're completely dedicated to you, the buyer
- We'll take whatever time it takes to find you the right home
- We'll help you get the best terms
- We'll utilize a "Buyer's Contract" to afford you the greatest contractual protection
- We'll prepare a "Comparative Market Analysis" (CMA) to show you recent comparable sales and give you the information you need to identify the proper price to pay for the home
- We'll help you negotiate the lowest reasonable price
- We'll advocate your interests, and only your interests, throughout the entire buying process
- We'll make recommendations with respect to quality, competitively priced lenders
- We'll make recommendations with respect to inspectors
- We'll make recommendations with respect to radon testers
- We'll make recommendations with respect to attorneys
- We obtain and review the closing documents prior to the closing and follow up on any errors or unusual items that we discover
- We review the closing documents with you
- We attend the closing with you
- We follow up with you after the fact to ensure your complete satisfaction