Why Exclusive?
A large portion of the home buying public is not aware that there are choices of real estate representation. In Florida, you should never assume that any real estate agent represents you until you "hire" them, in writing, to represent you.
The traditional "Buyer's Agent" or "Transaction Broker" works for a real estate office that takes listings and usually represents the seller, but they will also represent a buyer for the exact same property. As a result, neither party is truly "represented" due to the conflict of interest. One agent working for both parties simply cannot get the highest price and best terms for the seller and the lowest price and best terms for the buyer.
The "Exclusive Buyer's Agent" (EBA) works for a real estate office that does not take listings of any kind and only represents buyers. Look for the key word "Exclusive" to be safe.
Just as with Seller's Agents and Transaction Brokers, not all Buyer's Agents are the same. Here are the questions you should ask any agent before working with them, and the answers based on working with the Our Team:
- Do you, or the company you are with, take real estate or property listings? Do you practice Transaction Brokerage?
No, our company does not take real estate or property listings and therefore represents buyers 100% of the time. We would never ask a client to agree to Transaction Brokerage because then the buyer is not fully represented.
- What percentage of your personal business and what percentage of your company 's business is representing buyers? Is the balance of that representing sellers?
Our Team represents buyers 100% of the time - we never represent sellers.
- Will you try to sell me one of your listed properties before you show me listings from other real estate companies?
This is one of the best reasons for using Our Team- there is no bias towards any particular property. We begin our relationship with our buyers by spending some quality time determining their wants and needs. We don't waste our buyers time showing them homes they are not interested in. Many traditional agents have an incentive to show buyers their company listings first. We pride ourselves on our search capability to locate exactly what our clients are looking for, in the shortest possible time.
- How are Buyer Agents paid?
All agents- whether traditional agents or exclusive buyer agents- are paid by splitting the fee that the seller has already agreed to pay the listing broker at closing. So there is no cost to the buyer to retain our services. Actually, most buyers find that we can help them save thousands of dollars in real estate costs through low cost loans and contract negotiations!
- Will you point out the negative, as well as the positive aspects of each home?
Another great reason to use Our Team. Because we work for you and not the seller, we don't try to "sell" you on any particular homes. In fact, we point out the negatives so you can make an informed decision, and there are no surprises after you move in.
- Do you keep everything I tell you confidential, including my financial information, motives for buying and negotiating strategies?
Absolutely! Our Team is ethically and legally bound to keep all of your information confidential. Actually, we try to find out as much as possible about the seller's situation, so we can use it to your advantage in our negotiating strategy.
- Will you provide the true facts as to value, market, physical defects and neighborhood conditions on any property I make an offer on?
For any home that you would like to make an offer on, we will first conduct a thorough market analysis of the area based on properties that have sold and share with you complete information about property values to help you to determine a fair price to pay.
- Do you have a list of home inspectors, insurance agents and reputable lenders for me to consider?
Yes, over the years Our Team has developed lists of trustworthy affiliates that we can recommend to you so that your transaction runs as smoothly as possible.
- Specifically, how will you help me to save money?
First of all, we provide you with updated computer listings of all homes that meet your needs using our 24 hour access to online databases of property information. This is where we often find the best values. When we find a home that is bargain priced, we'll help you to recognize the good value. We'll prepare an offer for you that will save you thousands of dollars, and then use our negotiating skills to show the seller why it's to his benefit to take your offer. After 20 years of negotiating contracts, we've become very adept at saving our clients a considerable amount of money. Secondly, we always prepare a market analysis to determine the current market value of the home, so you never pay too much. Thirdly, many times we negotiate for the seller to pay for some or all of the usual buyer's closing costs, saving you thousands of dollars up front. Fourth, we always ask the seller to pay for a home warranty for our buyer's benefit, so you're covered for a year after closing. In addition, we will advise you on choosing the least expensive mortgage loan, help you to negotiate repair costs, and review your closing statement for accuracy.
- If I find a for-sale-by-owner, will you help me to negotiate the sale at no cost to me?
Yes, Our Team has negotiated many for-sale-by-owner properties for our clients. We ask the seller to pay our commission, which they usually agree to do because they only pay half of what they would pay to list their property with a traditional real estate agent.
- Can you give us names and numbers of several former satisfied buyer clients?
Our Team keeps an ongoing list of current satisfied buyer clients to use as references- just ask us.
- You should not assume that any real estate broker or salesperson represents you unless you agree to engage a real estate licensee in an authorized brokerage relationship, either as a single agent or as a transaction broker. You are advised not to disclose any information you want to be held in confidence until you decide on representation.
