BUYER AGENCY

Protect yourself, be an informed buyer- Read On! 

Why Every Home Buyer Should Use a Buyer's Agent & "How Can a Buyer's Agent Help Me?"

One of the common misunderstandings regarding the process of buying a home is that the salesperson who works with buyers is serving them as their own buyer's agent.  Make sure to protect yourself and find an agent who specializes in buyer agency & provides you with the level of services you deserve. After all - why not? The seller almost always pays for a buyer agent's commission. Hire a buyer's agent today and experience the difference.

BENEFITS of BUYER AGENCY:

·    Loyalty

        The real estate agent must act in the best interest of the buyer

·   Obedience

        Must follow the lawful instructions

·     Disclosure of all material facts

          Examples but not limited to:

                Relationships between agent and other parties

                Existence of other offers

                Status of earnest money

                Seller's financial condition (if known)

                Property's true worth

                Commission split with other brokers

                Legal effect of important contract provisions

·     Confidentiality

            Any discussions, facts, or information that should not be revealed to others but does not include responsibility of fairness and honesty in dealings with other parties

·     Accounting in dealings

            Reporting of where any money placed in the hands of the broker is kept

·     Reasonable Skill and Care

            Arriving at a reasonable purchase price and advising buyer of such

            Affirmatively discovering material facts and disclosing them to the buyer

            Investigating the material facts related to the sale

These responsibilities are defined by Oregon State laws, the Realtor Code of Ethics, general principles of agency and court decisions. That's the legal definition. But what does a Buyer's Agent actually do for the home buyer? And how do you insure you get these services from the agent? Like other agents, a Buyer's Agent will show you available homes, point out the property's features, provide financing information and submit the offer to purchase. But that's not all. As your representative, a Buyer's Agent will share valuable and essential information with you if the agent knows it, such as:

Whether the seller would accept a lower price

The seller's reason for selling and timetable

How long the home has been on the market

Previous offers and counteroffers for the property

Strengths and weaknesses of the property

The way you are insured you get these services is to hire a Buyer Representative and sign an agreement to use their services. There are many standard agreements out there. However, you may want to seek out an Agent who will sign an agreement the will guarantee what she will do for you. If she will not or does not have a form to do this- find someone else.

Most important for many buyers, you can ask a Buyer's Agent for advice and assistance in setting your offering price and structuring the other terms of your offer. What's more, you'll have peace of mind knowing an advocate is working on your behalf to help you buy at the best possible terms.

What Will a Buyer's Agent Cost Me? Not a penny. The seller pays your fee through the commission their agent shares with your agent.

Perhaps the right question is, "What will it cost me if I don't use a Buyer's Agent?" Purchasing a home without representation is possibly the biggest financial mistake you can make. A Buyer's Agent can guide you each step of the way to prevent costly errors. Failure to find out about defects in the property or the actual value of the property can, of course, be an expensive mistake. And failure to negotiate a contract that works for you can cost you plenty. With a

Buyer's Agent, you can ask for and receive advice and assistance in selecting the best property and determining an offering price.

Who Needs a Buyer's Agent? If you want to make sure you buy smart, you need a Buyer's Agent. If you're a first-time buyer, if you're relocating or unfamiliar with the local real estate market, if you're buying for investment and want negotiating help, or if you need to purchase anonymously, you'll be best served by a Buyer's Agent who puts your interests first. Also, if the real estate professional helping you find a home is a relative, close friend, a business associate or you previously were the agent's home-selling client, chances are you'd expect the agent to represent your interests and should establish a Buyer Agency relationship. Or, if you just want to get the best value in a property and an agent, you owe it to yourself to be the most knowledgeable buyer you can be. Be aware that signing the Agency Disclosure Form required by state law does not create a Buyer Agency Relationship- all it does is disclosure how that agent is acting at that moment.

Can a Seller's Agent or Subagent Help Me Buy? Without a Buyer's Agent, you're really on your own. Keep in mind, the Seller's Agent or subagent is actually working for the seller and is the seller's legal representative. Yes, a Seller's Agent or subagent can offer buyers some services, including a diligent search to find the right home, an explanation of available financing, calculation of monthly payments, estimation of settlement costs, presentation of your offer to buy. What a Seller's Agent cannot do is disclose information not in the best interest of the seller such as an opinion of the home's real value or what price and terms the seller would accept. By law, the Seller's Agent or subagent must negotiate on behalf of the seller and may not withhold from the seller information that could strengthen their bargaining position. That means you, as a buyer, should be careful not to disclose to the Seller's Agent or subagent any financial or personal information that could be used against you.

What Is a Transaction Broker? If your Buyer's Agent locates a home you wish to buy from her own agency ("in house"), the Seller's Agent and your Buyer's Agent must both revert to either Dual Agents or Transaction Brokers, in order to assure that buyer and seller are treated fairly and equally.

At Town & Country Realty, the office policy is for the agents to revert to a Dual Agents. Both agents are required to provide complete disclosure, due diligence, and the care and accountability that they would always provide. But they may disclose personal information (like how much a buyer would be willing to pay or how low a seller would be willing to sell) to the other. 

We have rather unusually policy for the Industry as we treat every prospect as a Buyer Client immediately. Then you decide how you want us to proceed. 9 out of 10 times you won't buy the home I have listed, but if you do - you are safe in knowing that you are being well taken cared of instead of the Industry's standard of being taken advantage of.

Above all just be very careful- not all agent are comfortable disclosing how they are representing you for they are afraid that a piece of paper (the agency disclosure form) will distance and discomfort a buyer. We will that you need to know what your rights are and what you are entitled to right away so we have taken the time to write this special report.

The Bottom Line. If you want an agent to fully represent your best interests, if you want help evaluating a property, if you want someone to negotiate to get you the best price and the best terms, if you want to purchase a home in what's becoming the most popular way to buy, you'll want to enlist the aid of a Buyer's Agent. 

Just Email  or call Teresa N. Snyder at Toll Free 1-866-883-3421 and press # to leave her a message and she will return your call within 48 Hours. She will be honest and up front with you at all times and keep your best interests at heart at all times. She will also guarantee her services in writing whether you use her for your home purchase or your home loan. She has taken the time to become both an Accredited Buyer’s Representative and Mortgage Banker and she has developed both Buyer and Borrower Agreements that clear define what services she will provide to you. She will also commit to educating you about the Real Estate & Mortgage Process & handle all of the turbulence & problems that may occur so you may sleep easier at night!

Here is a great article to read - 101+ Possible Types Of Turbulence Or Stunts We Could Encounter…

Best of Luck in your Home Search!