Buyer's Agent
Toni Selliris (Buyer Agent)
| Cell: | 651-261-7166 |
| Office: | 715-386-0264 |
| Email: | toni@steelebrothers.com |
"My professional beliefs as a real estate agent are consistent with my values ~ to perform with integrity, high ethical standards, and to be a "server". It is my goal to bring value to every person I come in contact with by treating them with respect, listening, and being accountable."
Unique Benefits And Services A Buyer's Agent Can Offer
If you're thinking of buying a house, you need to know that the real estate market has experienced some dramatic changes in the past few years. The biggest change for buyers is that buyer's agents are now available, most often at no extra charge, to negotiate on price and terms, and to protect the best interests of the buyer.
Take time to read this information on buyer's agents and how they can help you. A buyer's agent can put his or her industry expertise to work for you - to help you make one of the largest financial decisions of your lifetime.
• Who Does Your Agent Work For?
• What Is A "Buyer Agency" Contract?
• Benefits Of A Buyer's Agent
• All This Service - What's The Cost?
• Going the Extra Mile For Buyers
• Competitive Edge When Problems Arise
• What About Investment Value?
• All This And More...
• The Difference Is...
• Which Will It Be?
Who Does Your Agent Work For?
Traditionally, a real estate agent assisting a buyer in the home purchase process functioned as the agent or sub-agent of the seller and owed allegiance to the seller.
Unless the real estate agent and the buyer are working under a "buyer agency" contract, the agent is legally an agent of the seller and is obligated to work in the best interest of the seller. This means many things - but of great importance to buyers is the fact that the agent is obligated to obtain the highest price for the seller.
This is nothing new. It has always been this way. What has changed is that today's buyers are demanding representation too. That's why we now have buyer's agents. Only a buyer's agent can represent and work for the best interests of the buyer.
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What Is A "Buyer Agency" Contract?
A "buyer agency" contract creates legal fiduciary responsibilities between the buyer and the agent. The responsibilities are:
- Loyalty to the buyer's interests
- Obedience
- Disclosure of material information
- Confidentiality
- Reasonable care and diligence
- Accounting on all matters
- Objective presentation of all offers
- Disclosure of material adverse facts
- Fair and honest treatment
- Provision of accurate market information
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Benefits Of A Buyer's Agent
A buyer's agent:
- Can negotiate on behalf of the buyer to work toward obtaining the price and terms that are in the best interests of the buyer.
- Is not limited to showing properties only listed in the Multiple Listing Service. This capability increases the selection of homes from which the buyer can choose.
- Is obligated to provide complete confidentiality of buyer's personal motives or financial intentions.
- Can advise and counsel a buyer with unrestricted assistance, providing as much assistance as needed.
- Can prepare an estimate of value for a property so that the buyer has the information they need to make an informed decision.
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All This Service - What's The Cost?
Most often, the buyer pays no more for the services of a buyer's agent than he or she would if using a traditional seller's agent. Commission or fees usually come from one of three sources:
- Out of the total commission being paid to the listing agent.
- As reduction in the selling price, equivalent to the buyer's agent commission, thus enabling a direct payment from the buyer to the buyer's agent.
- Negotiated in the offer to purchase as a payment to the buyer's agent from the seller on behalf of the buyer.
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Going the Extra Mile For Buyers
Buyers always have questions. When the agent is not a buyer's agent, yet working with a buyer, answering questions can be awkward because the agent actually owes allegiance to the seller.
While a traditional seller's agent would not withhold important information, a buyer's agent has a legal obligation and commitment to dig deeper into a situation which might jeopardize the best interests of the buyer.
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Competitive Edge When Problems Arise
If an inspection reveals a problem, a buyer's agent can make a difference. Should the buyer still wish to purchase the home, the buyer's agent "goes to bat" for the buyer to negotiate a fair and equitable agreement.
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What About Investment Value?
A buyer's agent can offer a professional opinion as the value of the home - something a traditional agent would be hesitant to do, should the home not offer as promising a future as other properties.
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All This And More...
Both a buyer's agent and a traditional seller's agent can answer questions and handle many of the other aspects of the transaction such as arranging for a property appraisal, a title search, a survey, property inspections, and the closing. And both types of agents will be able to provide the buyer with information on the community to help the buyer make a more informed decision.
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The Difference Is...
A traditional agent will work with the buyer, but is required to advocate for the seller's interests.
A buyer's agent works for the buyer, advocating for the buyer's best interest... most often at no extra charge!
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Which Will It Be?
Is there really a choice? Need more information? Have Questions?
