(540)  955-1055 * Email * Fax: (540)  955-5566

Licensed in Virginia, West Virginia and North Carolina

Buyer's Representatives

What is a Buyers Representative?

Essentially, a Buyers Rep is the buyer's advocate in a real estate transaction. In contrast, a real estate agent who lists a property must, by law, be the seller's advocate. In past years, agents who brought buyers to the table, did so as a "subagent" of the listing agent. They both worked for the seller!

Time and advocacy has given rise to the demand for agents who work solely for the buyer. Thus was born - the Buyer's Representative. It is now possible to sign an agreement with a real estate agent that specifies exactly that function. The typical agreement outlines the duties of the agent and solidifies the arrangement between the buyer and the agent.

Why Use a Buyer's Representative?

How often do you buy real estate property? 
Once, twice, three times in your lifetime?

Purchasing real estate is usually the largest transaction that consumers make in their life. The process can be complex, involve numerous details that are beyond the scope of your knowledge, and sometimes require a bit of negotiating that may not be your forte. Sometimes, it rolls along quite well - but you still may not have the time nor inclination to handle the details.

You can bet, in the majority of cases, the seller will be represented by an agent. Why not have your own agent/advocate for complete and fair representation in the real estate transaction?

And at no cost to you! In substantially all deals, the seller is paying the real estate commission.

Benefits of Using a Buyer's Representative

In the beginning - a Buyer's Rep can: Work with you to evaluate your specific home needs and desires in order to locate properties that fit those specifications. Assist you in determining the price that you afford (pre-qualify) and show properties in that price range. Arrange the viewing of properties or preview the properties on your behalf.

For offers - a Buyer's Rep can: Research your selection of properties to identify problems or issues before you make an offer. Advise you on structuring an appropriate offer to purchase the selected property. Present the offer to the sellers agent and seller on your behalf. Negotiate on your behalf, and in your best interest, for the selected property.

For accepted (ratified) contracts - a Buyer's Rep can: Review and explain all legal documents to you. Make recommendations and provide assistance in securing appropriate financing. Provide a list of potential qualified vendors e.g. movers, attorneys, carpenters if these services are needed by the consumer.

Keep in mind that the Buyer's Representative will be doing these tasks with your best interests in mind. 
The Buyer's Rep is your advocate.

Why sign a Buyer's Representative Agreement?

To help you get where you want to goĦ­.

A real estate agent works on commission. With no transaction, there is no payday. And most agents are like you and me - they like to eat.

A good agent will go out of their way to help you, the customer, to find something that fits your needs. It may be in their inventory of listings. They may have to scour the Multiple Listings for a match. (They can see all of the same properties listed in MLS that all of the other agents can see.) They may do "cold calls" on properties that are not yet offered for sale. And they will take you to any - and all - of the properties that you want to explore. That's just to find the property! Then they will help you make an acceptable offer and carry the deal to fruition.

The truth is: It is a whole lot easier to get that kind of commitment from an agent - if you make some commitment to them.

Just like any other agreement - a Buyer's Representative Agreement can be terminated. It is not a lifetime commitment. It is a tool that lets you and the agent focus on the search for your property needs.

Pick your buyer's rep well. Then stay with them.
 It will be a mutually beneficial association.

 

 

 

(540)  955-1055 * Email * Fax: (540) 955-5566