The Real Estate Diva
Tracy Andrews
Why Should I Have A Buyer Broker Represent Me?
Buying a home is one of the most important purchases you'll ever make. Without representation it can be like navigating a foggy day.
Until a few years ago, Maine home buyers didn't even have a choice.
They decided upon a home to buy and negotiated the contract without any representation.
Traditionally, all residential real estate agents used to represent the seller.
Now Maine lakefront and all residential home buyers have a choice.
Smart buyers today can receive undivided confidential representation, by choosing a 'Buyers Broker'.
Now you, just like the seller, can have a knowledgeable and dedicated advocate at your side, looking solely after your best interests.
Representation
How Can A Buyer's Broker Help Me?
A Buyer Broker owes certain duties to their home-buyer, such as care, confidentiality, full disclosure and accurate accounting. These responsibilities are defined by state law, the REALTORS Code of Ethics, general principles of agency and court decisions.
The Buyer Broker's ultimate goal is to help you buy the home that you want and at the right price.
What Will A Buyer's Broker Cost Me?
Traditionally, the seller's agent and the buyer's broker share the sales commission that is built into the list price.
There are, however, other ways that the Buyer Broker may be paid. Be sure you understand, from the start of your relationship, how your Buyer Broker will be compensated. Don't be afraid to ask questions, if you need to.
Maybe the right question is "What will it cost me if I don't use a Buyer Broker?"
A Buyer Broker can guide you, every step of the way, to prevent costly errors.
The Bottom Line of
Buyer's Broker Representation
Your Buyer Broker will send you listings as soon as they are available, using the criteria that you provide.
He/she will set up showing tours and take you to see the properties that are of the most interest to you.
Your Buyer Broker will advise you and will negotiate on your behalf.
She/he will provide steadfast guidance and valueable resources to see you through the transaction, and will be by your side with knowledge and expertise to make your home-buying experience go as smoothly as possible.
Real Estate Terminology
Agency Relationship Agreement between an agent and a client in which the agent acts in the best interest of the buyer client.
Agent or Broker Technically an 'Agent' is a licensed real estate professional, new to the business, and a 'Broker' has been practicing more than 2 years.
Client The buyer represented by a Buyer Broker, or a seller represented by the seller's agent/broker.
Customer A buyer who works directly with the seller's agent/broker, on thier own, without representation.
Listing Agent or Listing Broker Real estate licensee acting on behalf of the seller. The agent/broker who is listing the home.