Yesterday I was talking about the advantages of having a buyer's agent representing you in the home purchase. I was out yesterday with a buyer client of mine (also a good friend). They were thinking of looking at new construction and had stopped by a builder's model on their way home from church to pick up some information. They asked me what was the proper procedure since it was new construction.
I went through this a few years ago before I got into the Real Estate business myself. I wanted to buy new construction and thought I just had to deal with the agent representing the builder at the subdivision I was considering. I told them hold on. The builder's agent is paid for and hired by the builder to look out for the builder's best interest; not yours. You need someone to look out for your interests and help you negotiate the best deal possible for YOU.
Buyer's are thinking and believing that if they buy new construction from a builder that they have to deal with the builder agent and do not need representation at all... Quite the contrary. In fact, I went with my clients back to the model home and sat with them as they went through the spec house and looked at upgrade options and lots. When asked I provided feedback from my experience in the business to the pros and cons of certain things.
Iin turn had done a comprehensive market analysis of the recent homes the builder had sold (since he had them listed on the MLS) and told my Buyer's this is what the average home has sold for in the last three months... they need to make an informed educated decision when they are looking to purchase a home. It does notmatter if it is a resale of an existing home or a new construction home being built.
After some negotiating I was able to get the price lowered for them and some extra upgrades thrown in. I think this was the bottom line for the builder but the buyer was unaware they could ask for and negotiate such items. When we left they said thank you...You just saved us some money and got us the upgrades we wanted; but did not think we could afford initially.
So, the moral is if you are looking at new construction...hire a Realtor to work for YOU. The builder is going to pay the Realtor for bringing you there and you can be at ease knowing YOUR best interests are being represented in the transaction.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Monday, March 15, 2010
Sunday, March 14, 2010
Do I Need a Buyer's Agent to Represent Me?
I was meeting someone for the first time yesterday. When we met at my office I went over agency and the Real Estate brochure working with a Real Estate Agent. After I got done I asked them if they wanted me to represent them as an exclusive Buyer's agent.... They said yes...why would anyone not? I thought that was a good question.
If properly explained in North Carolina most people will sign an exclusive agency with a Realtor. Otherwise the person driving you around to show you homes is working for the seller....Do you really want to divulge information about your wants, needs and motivations to soemone who is just going go back and tell the seller everything you just said if you make an offer? I know I don't.
In North Carolina Real Estate transactions are considered a buyer beware state. Thus you need someone looking out for your best interests in the transaction; not the sellers.
Having an exclusive buyer representative gives you the peace of mind of knowing that the Realtor you are dealing with is looking out for you solely. As a Realtor we still have an obligation to the other party to be fair....but our allegiance lies with the buyer.
What is eapecially disheartening to me is the amount of people that will call an agent about a house they have listed and get into personal information about their finances and not know that the agent is representing the seller in this transaction...if that is the hosue you elect to put an offer in on.
I am not advocating going out and signing up with the first agent you speak with. I talk to many people and expalin to them agency. They tell me they are not ready to commit to me. That is fine also. They do not know how well fo a job I am going to do for them. I beleive I need to earn yoru trust and loyalty. But, be careful about an agent who will not send you any homes or give you any information unless you sign a buyer's representation with them.
A home purchase is going to be the largest purchase you make in your lifetime....Make sure your best interests are represented by someone working for YOU.
Dave diCecco
Realtor/Agent
www.davedicecco.com
If properly explained in North Carolina most people will sign an exclusive agency with a Realtor. Otherwise the person driving you around to show you homes is working for the seller....Do you really want to divulge information about your wants, needs and motivations to soemone who is just going go back and tell the seller everything you just said if you make an offer? I know I don't.
In North Carolina Real Estate transactions are considered a buyer beware state. Thus you need someone looking out for your best interests in the transaction; not the sellers.
Having an exclusive buyer representative gives you the peace of mind of knowing that the Realtor you are dealing with is looking out for you solely. As a Realtor we still have an obligation to the other party to be fair....but our allegiance lies with the buyer.
What is eapecially disheartening to me is the amount of people that will call an agent about a house they have listed and get into personal information about their finances and not know that the agent is representing the seller in this transaction...if that is the hosue you elect to put an offer in on.
I am not advocating going out and signing up with the first agent you speak with. I talk to many people and expalin to them agency. They tell me they are not ready to commit to me. That is fine also. They do not know how well fo a job I am going to do for them. I beleive I need to earn yoru trust and loyalty. But, be careful about an agent who will not send you any homes or give you any information unless you sign a buyer's representation with them.
A home purchase is going to be the largest purchase you make in your lifetime....Make sure your best interests are represented by someone working for YOU.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Do I Need a Buyer's Agent to Represent Me?
I was meeting someone for the first time yesterday. When we met at my office I went over agency and the Real Estate brochure working with a Real Estate Agent. After I got done I asked them if they wanted me to represent them as an exclusive Buyer's agent.... They said yes...why would anyone not? I thought that was a good question.
If properly explained in North Carolina most people will sign an exclusive agency with a Realtor. Otherwise the person driving you around to show you homes is working for the seller....Do you really want to divulge information about your wants, needs and motivations to soemone who is just going go back and tell the seller everything you just said if you make an offer? I know I don't.
In North Carolina Real Estate transactions are considered a buyer beware state. Thus you need someone looking out for your best interests in the transaction; not the sellers.
Having an exclusive buyer representative gives you the peace of mind of knowing that the Realtor you are dealing with is looking out for you solely. As a Realtor we still have an obligation to the other party to be fair....but our allegiance lies with the buyer.
What is eapecially disheartening to me is the amount of people that will call an agent about a house they have listed and get into personal information about their finances and not know that the agent is representing the seller in this transaction...if that is the hosue you elect to put an offer in on.
I am not advocating going out and signing up with the first agent you speak with. I talk to many people and expalin to them agency. They tell me they are not ready to commit to me. That is fine also. They do not know how well fo a job I am going to do for them. I beleive I need to earn yoru trust and loyalty. But, be careful about an agent who will not send you any homes or give you any information unless you sign a buyer's representation with them.
A home purchase is going to be the largest purchase you make in your lifetime....Make sure your best interests are represented by someone working for YOU.
Dave diCecco
Realtor/Agent
www.davedicecco.com
If properly explained in North Carolina most people will sign an exclusive agency with a Realtor. Otherwise the person driving you around to show you homes is working for the seller....Do you really want to divulge information about your wants, needs and motivations to soemone who is just going go back and tell the seller everything you just said if you make an offer? I know I don't.
In North Carolina Real Estate transactions are considered a buyer beware state. Thus you need someone looking out for your best interests in the transaction; not the sellers.
Having an exclusive buyer representative gives you the peace of mind of knowing that the Realtor you are dealing with is looking out for you solely. As a Realtor we still have an obligation to the other party to be fair....but our allegiance lies with the buyer.
What is eapecially disheartening to me is the amount of people that will call an agent about a house they have listed and get into personal information about their finances and not know that the agent is representing the seller in this transaction...if that is the hosue you elect to put an offer in on.
I am not advocating going out and signing up with the first agent you speak with. I talk to many people and expalin to them agency. They tell me they are not ready to commit to me. That is fine also. They do not know how well fo a job I am going to do for them. I beleive I need to earn yoru trust and loyalty. But, be careful about an agent who will not send you any homes or give you any information unless you sign a buyer's representation with them.
A home purchase is going to be the largest purchase you make in your lifetime....Make sure your best interests are represented by someone working for YOU.
Dave diCecco
Realtor/Agent
www.davedicecco.com
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