There is a method to working with real estate agents and upon your first meeting you will be asked to sign a pamphlet that explains our role and defines agency. When a broker shows a property he/she represents the seller –even if it’s another broker’s listing. Most potential buyers aren’t aware of that. If you are in their car and they show you property it is logical to think the broker is working on your behalf…not true.
If you are a buyer there is a separate agreement you can sign that allows the broker to represent you and ultimately work on your behalf. This is called a Buyers Agency Agreement. There typically is no fee paid from you but it is paid from the commission portrayed in MLS -namely the seller. This allows confidentiality of any information you reveal to the broker and allows the broker to research every detail of the property on your behalf as well as guide you on the home’s value and where the offer should begin.
The bulk of the work is in the broker’s hands as far as advising on a home inspection and survey if so desired. Time spent with a broker is valuable, can be over weeks or months, and research on properties in MLS or otherwise, emails, texts and phone calls really do add up –especially for top brokers. In other words, by signing a Buyers Agency Agreement, the broker knows you are committed to each other and the end result will be beneficial to both parties.
Being resort towns, Highlands and Cashiers attract many first time visitors who fall in love with our charming towns…understandably so as I did 23 years ago. Some walk into a real estate office or pick up a Buyer’s Guide and call about ads that attract them. This can result in calling several different brokers and possibly meeting with various ones. Each broker then feels they have a new client and their involvement begins. This is why it is better to engage and work with one broker who can show you anyone’s listings and with a Buyers Agent Agreement you will be guided and advised by one broker to a successful closing. In our small town many times different firms feel you are their client and this causes confusion and disagreements among brokers. This shouldn’t happen and a Buyers Agency Agreement eliminates any confusion. You should read it in full before signing and keep a copy showing the dates of the agreement.
As you can imagine, when many visitors go home and reality sets in they decide they don’t really need or can’t afford a home here or maybe the timing is not right. The broker has spent hours setting up appointments, driving many miles, preparing paperwork to show listings and prepared the homes for showing with lights on, temperature control, and possibly asking homeowners to leave while showing. There is a lot of work involved but that is our role. A buyer’s role is to select a broker they trust, who knows the market, and who they will enjoy spending time with. It should always be a win-win situation with good results for all.
Pat Allen – Cell: 828-200-9179 | Email: email@example.com