Dear Customer:

At present, by default, you are in the real estate market all alone. I don't care how many real estate offices you've been working with or how many nice friendly real estate agents, sales people or brokers you've spoken to. You are all alone!

No mater what you are thinking, in reality the sales person you've been talking to, the listing agent who took the listing, they all work exclusively for the seller. They, upon the first meaningful contact have given you a document to acknowledge that clearly states, they work for the seller. If you glanced at the document and either signed it or refused to sign it, they are still working exclusively for the seller. That's who they owe 100% of their allegiance to, the seller, not you. 

When they present your offer to the seller, guess what? They are working for the seller. Whatever you may have disclosed to them, such as, I can go higher if I need to, that information goes directly to the seller. They have no choice, they are duty bound to do the best for the seller. There may be information that has to be disclosed to you by law about the condition of the house, if they have knowledge of a problem, however, be assured if they have information that would help you in getting a better deal, such as one of the owners has to move across the country by the end of the month, no way are you ever going to learn that. That is because you are their customer, not their client.

Are you ready to level the playing field and get the best possible representation in what may be the single largest purchase of your lifetime? If so read on and I will explain how to become client, rather than a customer.

Before we get into specifics, We would like to expose a few misconceptions for the uninitiated:

• The seller pays the commission on the sale of their home (FALSE)

• The commission is paid by the seller, he writes the check, but where did the money come from? It was brought to the closing by you, the buyer!

• So who do you think really paid the commission? Yes, you the buyer.

Ok, we got that out of the way. Now to the really good part. At no "real cost to you" You can get dedicated professional service by a skilled, licensed real estate professional. Your cost in real dollars? Nothing! Not a cent! It's about disclosure and choosing to take control. You still get to see every house on the market. Private listing, For Sale By Owners, MLS Listings and those listings known as Exclusive Listings by competing real estate offices.

 

There is a very simple straight forward document entitled a Buyers Broker Agreement. The responsibility of the realtor shifts and therefore obligated to provide you with the following:

• Access to every home in the market appropriate to your needs.

• Giving you all information that may effect your offer.

  • Not just a list of general comps of recent sales, but a complete market analysis representing the true value of your new home.

    • School Test Scores

    • Local Traffic Patterns

    • Many more subtle bits of information that can impact on your deal and the true value of your purchase.

• Present your offer in the best possible light.

  • Negotiate the best possible price and terms of purchase.

  • In other words, sell your offer to the seller!

• Make certain you get exactly what you are paying for.

You have some obligations as well. All are very straight forward.

• If you find a home you like, you must purchase that home through the broker you have engaged. Even if your aunt told you about a house for sale next door to her, you still have to use the broker. Why, because the unique skill that you broker brings to the table will insure that you get the house that you want at the best possible price. Find the house is the easy part, negotiating it's purchase is where real skill is involved.

• You pay the commission, which if you've read this far, you know you are really paying anyway. Remember, you are the one bringing the funds to the closing.

The way offers are presented are either inclusive of or exclusive of commission. There is a scale of between 4% and 6% commission on the sale of a home. There are variables, however, be assured that you will not pay one cent more as a Buyers Broker Client than if you would have as a customer. Often times you will pay a good deal less in real dollars at closing than you would have going it alone.

 

Remember, you pay lawyers and accountants as they represent your interests. You should have professional representation in your real estate transactions as well. We have a wealth of knowledge and prepared to put forth 100% of our effort on your behalf.

 

Change from a customer to a client. Call us for that representation.

 

 

LESLIE FELDMAN, Broker Associate