| Deciding
to purchase a new home is a fun and usually joyous experience.
However because the home represents the single most costly
investment most of us make, this decision should also
be very diligent and serious.
When purchasing a home, most buyers select a price
range then focus entirely on amenities and location.
Since we spend the vast majority of our daily lives
at home, it certainly makes sense to purchase one that
you find emotionally appealing. However, it’s
these emotions that can also become your worst enemy,
as they will blindly feed a psychological attitude of
“I must have this home now” that may cause
you to overlook or hurry your diligence.
So that your home purchase not only provides you with
years of personal enjoyment but ensures that it is of
sound construction, does not have a history of problems
and is a reasonable investment you need to employ an
exclusive buyers agent. An exclusive buyers agent will
guide you through the purchase of your home and to act
in your best interest.
Exclusive Buyer Representation
What most homebuyers don’t realize is that agents
that represent buyers and sellers may be working under
a conflict of interest. After all, the agent has a legal
obligation to protect the seller’s interest. He
must get the highest price possible for the seller.
Where does that leave you… the buyer?
If an agent, or his agency, lists homes for sale he
cannot be an exclusive buyers agent. And an exclusive
buyers agent is the only agent that can guarantee 100%
representation of a buyer’s interests.
So before you make your decision on who should represent
you… get all the facts. Then make your own well-reasoned
conclusions. The following are key responsibilities
between exclusive buyers agents and traditional dual
agents and also some important questions that you should
ask before selecting your agent.
1) Representation
Exclusive buyers agents: Act solely
on behalf of the buyer. Obligated to help you buy a
home for the lowest possible price on the best terms.
Traditional dual agents: Legally bound
to help their sellers to get their property sold at
highest possible price.
2) Providing and interpreting market data
Exclusive buyers agents: Can provide
a complete market analysis of every home you are interested
in, interpreting all data for you.
Traditional dual agents: Can only
provide the raw data, leaving it up to you, the buyer,
to make sense of all the raw data.
3) Negotiation of Selling Price
Exclusive buyers agents: Will guide
you through the entire negotiation and represent you
throughout the negotiation process.
Traditional dual agents: Do not offer
advice or guidance to assist during the negotiation.
They simply are bound to convey each offer to their
seller.
4) Confidentiality
Exclusive buyers agents: Must disclose
any useful information known about the seller to you
and keep any sensitive information concerning yourself
confidential.
Traditional dual agents: Obligated
to the seller to disclose anything known about you,
the buyer, to their client in an effort to get the highest
possible price for their home.
Ask the CA real estate agents vying
for your business the following questions. These questions
will help you paint a clearer picture not only of the
representation but the kind of service you will receive
from the agent.
• Have you ever represented the buyer and the
seller in the same transaction?
• What percent of your personal business and
what percentage of your company’s business is
representing buyers?
• Will you try to sell me one of your listings
before showing me properties from other real estate
companies?
We truly hope these tips will be of value to you in
your search of a real estate agent. If we can be of
any further service to you, or if you would like a free
consultation, please give us a call.
We would consider it a privilege to be of service to
you! |
San
Jose MLS Search 
