Buyer Representaion WHAT IS BUYER REPRESENTATION?

Buyer Representation means that you, the buyer, have a licensed real estate agent working in your interests on the purchase of your new property. The best part is that the Seller will pay the fee as the Seller has already agreed in their listing contract to pay for a Buyers Agent, therefore, there is no additional cost to the buyer in most cases. There are basically two types of real estate agents:

1) A Traditional or Tranaction agent – Traditional agents work for the seller or have limited representation like a Transaction Agent in Florida. Most agents in Florida work as Transaction Agents, which basically means that they work for no-one really, they are just order takers, whilst they do have to provide honesty, intregrity, care etc., a Transaction Agent can not legally provide you all the information that you can get from an Exclusive Buyer Agent.

2) An Exclusive Buyers’ agent – A Buyer’s Agent works solely for the buyer and must provide by law, loyalty and confidentiality These relationships are governed by “The Laws of Agency”. An Agency relationship is established whenever two persons agree that one is to act on behalf of the other and in accordance with the other’s directions. When a client retains an attorney, an Agency relationship is established in the same manner as when a seller lists a property with a real estate agent, or when a buyer asks a real estate agent to be their representative. Establishment of a contractual Buyer Agency relationship carries with it several important duties which are: loyalty, confidentiality, obedience, disclosure, reasonable care and diligence, and accountability. The importance differance to remember is that an agent for the Seller or a Transaction Agent owe loyalty to the seller or no-one whilst an Exclusive Buyer’s Agent owes these duties to you, the buyer. Benefits of Exclusive Buyer Representation Only the buyers' interests are represented - never the sellers. Any possibility of conflict of interest is eliminated because the Exclusive Buyer Representative never accepts a listing - they are legally accountable to the buyer...not any seller. Because the Exclusive Buyer Representative enters into an exclusive agreement with the buyer, all information provided to them (such as loan approval level, motivation to buy & timing issues) is kept confidential. Best of all, Exclusive Buyers Representation does not cost the buyer more, as the fee is paid from the transaction via the sellers contract where they agreed to have the listing agent put the home in the MLS and offer a percentage for any outside office who has a buyer. (except in the case of non-listed properties) The Exclusive Buyer Representative is not afraid to disclose..... The foundation has settled - The lot has poor drainage - There is a better value for your money - look at structural issues - geological issues - possible pest or mold festations - and the list goes on. The buyer can trust being told everything found out about a property being viewed. Buyers will be advised whether what they are considering is a wise investment. The buyers purchase depends on knowing all the facts...good or bad. You See Each and Every Property in your Criteria You will be shown - MLS listings - For Sale By Owner - New Construction- even foreclosures, new inventory is searched everyday until we find the right property for you. "We measure our success, not in how much we sell, but how much we save our buyer clients"

What the Press Says on Why you should always use a Buyers Agent

"To Buyers: If you want representation, work with a buyer broker. They are legally obligated to represent your interests in any negotiations with sellers." -The Consumer Federation of America: "Groups such as the Consumer Federation of America and AARP recommend using buyer's agents."

Smart Money Magazine, June 1995: "Many people don't realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms."

Good Housekeeping: "Buyer brokers have the buyer's interest in mind. They act as a personal advocate, hunting for the right house and haggling with the seller's agent. In fact, a 1992 study by a national long distance phone company found that 200 relocating workers who used buyer brokers paid an average of 91% of the offering price; whereas those using traditional brokers paid 96%."

Diversion Magazine for Physicians "A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent. That's why many people believe an 'exclusive' buyer broker is preferable." -Business Week