Common Mistakes


IF YOU HOPE TO WIN AS A BUYER

The buying process can be confusing, that is why you need to hire someone to represent you. You NEVER have to pay me when you buy a home. Commissions are paid by the seller. My goal is to find you your dream home while making the process as easy and enjoyable as possible.

The first thing you need to do is hire yourself an agent. You must have agency representation equal to that of the seller. This means you need a competent BUYERS AGENT to represent you. The first thing a seller does is select an agent and stick with them. Buyers should do the same.

Agent services are free to the buyer!  Yet some buyers do not take advange of this.  They choose to do all the work themselves, read newspaper ads, search the internet, contact banks, drive around and call the Sellers Agent. 

By doing so they limit themselves in 3 ways:

1)  Less than 5% of listings are advertised in the paper in any given week.  By only using this as a resource you miss 95% of listings.  Using the internet you have to re-input your criteria every time you log on.  There is usually a delay in time from the information to reach a public site and by then the listing can be sold.

I can set up a search based on your criteria and it will automatically email you the newest homes as they become available. 

2)  When a buyer calls the Selling Agent you risk tipping off the agent who's job it is to get the highest price for the home.  As Your Agent I am able to negotiate the best terms, conditions and price for you.

3)  Every buyers financial situation and needs are different.  As your Buyer's Agent I know in advance to contact a Mortgage Broker who has access to many sources of mortgage funds.

A Buyers agent will help you find the home you want for the lowest price with the best terms and will be compensated by the seller.  A true Win-Win for a buyer.

WHAT A BUYERS AGENT EXPECTS FROM YOU

Loyality and Honest Communication, that's it! Always call our buyers agent if there is a home you what to know about. When you get the information give prompt feedback as to whether it interests you or not.

By hiring a buyers agent you recieve all the agents fiduciary duties. Prior to 1995 all these duties were owed to the seller. The buyer had no one protecting them. By putting an agent to contract you recieve the same loyality, confidentiality and obedience given to the seller. Written representation agreements are manditory if you want an agent to represent you as a client and not a consumer. If a buyer will not sign an agency agreement they can only be treated as a customer. Customers do not get the full arsenal of fiducary duties avaliable. ie. "confidentiality and loyality."


DEMAND BUYERS AGENCY

Protect your interests and ensure your rights! If at anytime you do not feel I am fully representing you, I will let you out of the contract without penalty.

 The 2 biggest mistakes a buyer makes can cost them thousands but they are very easy to avoid.  The first thing the buyer needs to do is stop calling the Realtors listed on the signs and in the ads.  That sounds crazy but what you need to know is that the seller has called a Realtor, interviewed them and then signed a contract.  The Realtors job is then to market the property in the shortest amount of time and to get the highest price he can get for the seller.  A buyer  drives by the home or calls to see the home after viewing an ad in the paper.  The Realtor meets you and his job is to sell that home, not to find the buyer the home that best suits their needs.  In the end the buyer usually ends up paying thousands more than if they had their own agent protecting them.

WHAT TO DO FIRST:

Where do you start?  Who do we call first?  Can we afford to buy?  What options are out there?

   A smart buyer should start by doing their homework.  There are many great references out there for buyers to find out where to start.  A Realtor is a trained expert.  They can answer all the questions a buyer had about types of properties, financing, home inspections, deposits, conditions, terms, etc.  The easiest place for a buyer to start this complex process is by calling an experienced agent and meeting with them prior to ever looking at homes.  After one meeting that lasts about 90 minutes, you will build rapport with the agent, discuss your needs, concerns and go over your want list.  Other reasons to start your home search in a real estate office include finding out that:

  • Agents are experienced negotiators who will manage your offers and counter-offers.
    An agent is familiar with the neighbourhood and can give you information on local real estate values, taxes, utility costs, services and amenities.
  • An agent is familiar with the entire home purchasing process and can advise you of your legal and financial options as well as recommend appraisal, home inspection and contracting services.
  • An agent can pinpoint homes that fit your needs and dismiss those that do not, saving you time.
  • An agent knows the potential problem areas in a home and can guide you away from "lemons.

WHAT A BUYERS AGENT EXPECTS FROM YOU?

Time is valuable.  Stop wasting yours looking for something at homes that don't suit or needs or budget.  Call or email me today to set up your personal buyers consultation.