|
Buying a home
is the biggest purchase you will ever make. Until 1996 any real
estate agent in a transaction worked for the seller, either as the
listing agent or as a subagent to the seller. The buyer essentially
had no representation. But in 1996 the state of Texas began to recognize
Buyers Agents whose responsibility was completely to the Buyer.
The buyer's representative works for the buyer and has the client's
best interests in mind through out the entire real estate transaction.
The broker becomes
the buyer's agent by entering into an agreement to represent the
buyer, usually through a written buyer representation agreement.
The agreement will spell out the parties of the agreement, set forth
the area and term of representation, the type of relationship that
is authorized and who will pay for the broker's fee. In almost every
case the seller pays for the broker's fee through the MLS cooperation
in a separate agreement with the listing broker. In the case of
new homes, the builder usually pays the brokerage fee.
The Real Estate
Buyers Agent Council of the National Association of Realtors recognizes
the benchmark of excellence in buyer representation by the designation
of the Accredited Buyers Representative or ABR. As such since 1999,
I am able to provide many benefits to consumers whom I represent:
Evaluate
the specific needs and wants of the buyer and locate properties
that fit those specifications.
Assist the buyer in determining the amount that they can
afford and show properties in that price range and locale
the consumer has determined.
Assist in viewing properties and either accompany the client
on the showings or preview the properties on behalf
of the client to insure that the identified specifications are met.
Research the selected properties to identify any problems
or issues to help the consumer in making an informed
decision prior to making an appropriate offer on the property.
Advise the client on structuring an appropriate offer to
purchase the selected property.
Present the offer to the seller's agent and/or seller on
the client's behalf.
Negotiate on behalf of the buyer client to help obtain the
identified property. Keep in mind that the buyer agent
will be doing so with the client's best interest in mind.
Review all legal documents with the buyer.
Make recommendations and assistance in securing appropriate
financing for the selected property.
Provide a list of potential qualified vendors for services
needed, such as movers, inspectors, title companies,
insurance agents, carpenters etc.
As a consumer, how often do you buy real estate property? Once,
twice, three times in your lifetime? Purchasing real estate is a
complex and major transaction with many details to be handled. In
the majority of cases, an agent will represent the seller. Wouldn’t
you want to have complete and fair representation in the real estate
transaction also, especially when it is no cost to you?
|