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"The most
important thing a buyer can do is, first of all, work with a buyer
broker"
From Realtor’s News®, discussing
The Consumer Federation of America and AARP pamphlet,
"Buying a Home: What Buyers and Sellers Need to Know About Real
Estate Agents"
HOW BUYER’S ONLY
REALTY STACKS UP
TRADITIONAL AGENTS*
Frequently Only:
 | Provide information about properties and sources of financing |
| Show properties and describe attributes and amenities |
| Submit offers to purchase promptly |
| Respond honestly and accurately to questions |
| Disclose facts known about the property |
| Offer property without regard to race, creed, sex, religion, or
national origin |
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*As identified in THE REALTOR'S GUIDE TO COMPLIANCE WITH THE LAW OF
AGENCY
BUYER'S ONLY REALTY
Always Does:
Everything
listed above...PLUS:
| Enter into agency agreement representing you |
| Perform loan analysis to determine most favorable loan |
| Search available properties, including For Sale by Owners |
| Locate and show targeted properties, pointing out strengths and weaknesses |
| Perform a broker opinion of value for chosen properties |
| Prepare study of property values in chosen areas |
| Advise client regarding offers on property |
| Assist in choosing an escrow company |
| Assist with determining needs for professional property inspection and
warranties |
| Consult with client regarding counteroffers, and negotiate on client's
behalf |
| "Shop" the loan package with lenders to acquire favorable loans
and rates |
| Arrange for necessary property inspection |
| Confirm that needed correction/repairs have been completed |
| Conduct final walk-through inspections |
| Review HUD-1 settlement statement for accuracy |
| Supply financial information about neighborhood properties |
| Supply information and estimates for any services requested |
| We keep everything you tell us absolutely confidential |
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760.320.3110 // 800.333.2909 //
email: Broker@TheBinkows.com
IF BUYER'S ONLY REALTY CAN SAVE ME MONEY ON PRICE, WHY CAN’T TRADITIONAL AGENTS?
THE REALTOR'S GUIDE TO COMPLIANCE WITH THE LAW OF AGENCY
states
that agents are "to reveal to the seller information concerning the ability or
willingness of the buyer to complete the sale or to offer a higher price."
Therefore, legally the other agents must not only do all they can to
sell the property for the highest price, but they must also inform the seller if
you, the buyer, are willing and able to pay a higher price.
This prevents agents representing sellers from promising to save you
money on the price of the home. Only agents who represent the buyer can work to get the
buyer a lower price.
WHY CAN BUYER'S ONLY REALTY SAVE ME MONEY?
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Just as other agents work for the seller, we work for the
buyer. Therefore we are obligated, according to THE REALTOR'S GUIDE TO COMPLIANCE WITH
THE LAW OF AGENCY to reveal to the buyer: the willingness of the seller to accept a
lower price, any facts relating to the urgency of the seller’s need to dispose of the
property, and any information that would affect the buyer’s ability to obtain the
property at the lowest price and on the most favorable terms. |
HOW CAN I TELL IF THE AGENT WILL REPRESENT ME AS A BUYER?
Everyone Knows You Can’t Serve Two Masters!
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If the real estate firm for whom the agent works has any homes
listed for sale, to be safe, you should consider that agent as one who represents sellers.
Remember, what the agent says is not as important as what
he/she does. There simply is no way an agent can negotiate price and terms on behalf of
both the buyer and seller.
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760.320.3110 // 800.333.2909 //
email: Broker@TheBinkows.com
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