Associate Broker 757-237-6786 Direct 757-213-6990 Office
email@example.com Licensed in Virginia
Today an Agent must disclose his or her Brokerage Relationship to an interested party before any substantial conversation takes place regarding a specific property. This Brokerage relationship must be in writing and signed by all parties. Nothing binding here but it protects all parties in the event of a misunderstanding at a later date. Oh, it's also Virginia Law! That doesn't mean that the Agent can't provide ministerial acts, such as providing general information. Here is a copy of a Brokerage Relationship Disclosure to an Unrepresented Party if you would like to review it.
My first home buying experience was a real learning experience. I was just out of the Military and we had saved our money and finally had enough to buy a modest home with the help of my VA benefits.
This was many years ago, long before there was a distinction between a listing Agent, a selling agent, an independent agent, a dual agent or a Buyer's Agent. Back then the Agent always represented the seller's interest regardless if they were the one showing the property to a perspective Buyer or held the listing with the owner. Matter of fact the Agent would always show his listings first to a buyer in hopes of securing the full commission. The sad fact was, the agent showing you the houses and the same agent you shared information with and who, felt like a friend, was not working for you but, in fact, was the seller's agent and was sharing all your thoughts and negotiating tactics with the seller. The unfair part of this arrangement was that nobody explained the agent's relationship to the buyer. Unfortunately, it this case that was me.
Well, we bought that first house. The day before we closed the seller decided he wanted to raise the price, regardless of the binding sales contract. The agent convinced us he could do that. The Seller left a garage full of trash and promised to come back and remove it. Never happened. Right after we moved in we had a heavy rain storm and the neighborhood flooded, including our house, and shorted out our well. All in all it was not a great start to the wonderful world of home ownership.
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Over the past Ten to Fifteenyears the information explosion that is available to us as consumers is Amazing. With the Internet and Mobile devices dominating information exchange, you ,as a buyer, have unpresented access to property information, literally, in the palm of your hand. So why would you need a Buyer's Agent ?
Here is some reasons:
We have access to the Multiple Listing service, looking everyday for that perfect property and then setting up the showing?
Before we schedule the showing we check the property history, neighborhood concerns, and run a market comparison to insure the property is priced properly.
Unless you do Real Estate Transactions every day, you need someone to handle the process and steps from Your offer to close. It is said that buying or selling a house can be one of the most stressful undertakings that you can do in your life. I wish I could promise that things always go smoothly, but anytime we have Humans involved in the process, things can go off track but we can usually get to the root of the issue and get things back on track.
Buying a house is an emotional experience. Have you ever bought something and then later started asking yourself. " What was I Thinking" In a Real Estate Transaction you really don't want to be put in that position. As a Buyer's agent we don't get emotionally involved in the house. We know what your needs are and we know what the present and hopefully the projected future value is of the house. If there is a negative aspect to the house or the neighborhood or maybe you are considering spending more than your comfort level, you might need a voice of reason to make sure you are making the best decision. That is part of our obligation to our Buyer.
So, we will help you find the right house, make sure the house doesn't have defects, help you write and present the offer, handle the negotiations for the counter offers, set up the home inspections, the appraisals, the termite inspection, the final walk through to make sure you are getting what you paid for and audit the closing statement to insure everything is correct.
Here is the neat part. We do all this at no cost to you. The Seller pays the Buyer's Agent Fees, in most cases. Some Brokerages do charge the Buyer a Transaction Fee. I Do NOT
Finding the right house for someone can take days, weeks, or even months, with sometimes dozens of showing and a lot of miles and time on the part of the Agent. It happens on occasions, and yes it has happened to me, that an Agent will work with someone for months and then the client buys a FSBO or stops by an open house and works directly with the listing agent or owner. When this happens the Agent who has invested all the time and money is out of the process and loses any hope for a commission on the sale. You probably work at a profession that you get a paycheck. Real Estate Agents only get paid when a closing takes place. Bearing that in mind, as much as we may like you, we do hope that our relationship leads to the purchase of a property.
Exclusive right-to-represent contracts
This is the most common contract between home buyers and brokers. This agreement outlines the obligations of the broker, the broker-agent relationship, and the responsibilities of the buyer. What distinguishes this contract is the buyer may not retain more than one broker to assist him or her. It sets forth the commission amount to be paid to the broker, which is owed even if the buyer finds the house herself or another broker does so. But if another party pays the broker the commission, the buyer doesn’t have to.