• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
buyer's
guide
ADVANTAGES OF BUYER AGENCY
DO YOU WANT TO BE A CLIENT OR A CUSTOMER?
Client Customer
A. During the financial qualification
 
process
 
Buyer's needs
: Under buyer agency, a salesrepresentative is obligated to pay full attention toall of the buyers needs. This can include, but isnot limited to, financial, timing, motivation,familial, etc. This representation will comewithout an obligation to match the buyer to aseller-client's property.
 
If a buyer is a customer, then the salesrepresentative is not obligated to satisfy anyparticular needs other than dealing fairly,honestly and with integrity with the customer.i.e. I'm going to show you my listings 1st,office listings 2nd, and the rest 3rd, as I choose.
B. During the home selection process
 
Full Access:
Under buyer agency, it is theresponsibility of the sales representative toensure that the buyer has access to the entiremarket. This includes private sales, expiredlistings, properties listed exclusively etc.As a customer, the sales representative isacting as a sub-agent and has no suchobligation to the buyer.
First opportunity :
Under buyer-agency, aclient should know that he/she will have firstaccess to any new opportunity that comes up,be it via MLS, or any other means at hisbroker's disposal.
 
A customer may have access to all potentialproperties, but only after the client has beengiven first opportunity, and not if it conflicts withthe client's desire for a property.
C. During the home showing process
 
Educating the buyer:
Under buyer agency, thesales representative is obligated to assist thebuyer in making an objective comparison of allcompeting properties, comprehensive enoughfor the buyer to make an informed decision as tothe value of the property in question and tomake an offer accordingly.
 
Acting as a sub-agent, it is the obligation of thesales representative to present comparablefacts that protect and enhance the value of theproperty in question.
 
buyer's
guide
Client Customer
D) During the negotiating process
 
Provide price information to the buyer thatsupports seller's listing price..
Price:
Under buyer agency, the salesrepresentative is obligated to present all salesstatistics in order for the buyer to make themost informed pricing decision, irrespective ofthe seller's asking price.
Clauses:
Under buyer agency, the salesrepresentative is obligated to provide counselingon protective clauses for the buyer. Someexamples may include, but are not limited to,financing or an appropriate home inspectionclause.Negotiate clauses that are in the best interest ofthe seller, which may include, but are notlimited to, closing dates, chattels, or a conditionon the seller being able to purchase anotherhome.
Financing:
Under buyer agency, the salesrepresentative is obligated to assist the buyer infinding the most suitable, or best financingavailable for the buyer. This may include suchdetails as rate, amortization, terms (institution),vendor take backs, or any one of manyscenarios available to the buyer.
 
Under sub-agency, the sales representative isobligated to negotiate the best financing clausein the interest of the seller, This may include,but is not limited to, 1) The time it takes thebuyer to get financing, 2) Removing thefinancing condition from the offer, 3) Negotiatinga VTB in the best interest of the seller.
Negotiating :
Under buyer agency, the salesrepresentative is obligated to provide negotiatingstrategies and techniques that are in the bestinterest of the buyer.
 
Under sub-agency, the sales representative isobligated to provide the seller with strategiesand techniques that are in the best interest ofthe seller.
Negotiating :
Under buyer agency, the salesrepresentative is obligated to provide negotiatingstrategies and techniques that are in the bestinterests of the buyer.
 
Previous Offers:
Must share all known detailsof previous unsuccessful offers, or any otherinformation that strengthens the buyersnegotiating position.
Negotiating :
Under buyer agency, the salesrepresentative is obligated to provide negotiatingstrategies and techniques that are in the bestinterests of the buyer.
 
Personal Information :
Knowledge of anypersonal information about the seller must beshared with the buyer, including but not limitedto, the price the seller is willing to accept, aprice that has already been accepted orrejected, as the case may be, and the seller'smotivation.Must share information about the buyer whichmay include but is not limited to, financialinformation and ability and/or willingness to paymore, motivation and ability and/or willingnessto change closing date.
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...