Laura's Buyer Representation FAQ—How I Can Help
Question: Do home buyers need the help of a Buyer Representative?
Answer: You bet! When you work with a real estate professional who is 100% loyal and completely committed to your interests, chances are that the entire home-buying process will go smoothly, with a higher level of buyer satisfaction.
Question: What is a Buyer Representative?
Answer: A Buyer Representative works solely for you and has no legal or other responsibilities to the seller. When working with a Buyer Representative, you have the advantage of personal representation, independent counseling, loyalty, confidentiality, and trust. On the other hand, while helping you present an offer and then negotiate and close a transaction, a general real estate agent has certain fiduciary responsibilities to the seller and agent of any property you choose.
*In a case where the property your agent is representing you to buy is also that agent’s listing, dual agency applies. Talk to your agent for more information.
Question: Can a Buyer Representative show us the same properties?
Answer: Yes, a Buyer Representative can show you every home listed in the REALTOR®’s Multiple Listing Service (MLS), PLUS Real Estate Owned (REO) and For Sale By Owner (FSBO) properties. Additionally, a Buyer Representative can show you builder models to select your own, brand-new properties and unlisted homes.
Question: Will a Buyer Representative disclose more information to us?
Answer: Yes indeed. Because a Buyer Representative’s fiduciary responsibility is to you, he or she can be more forthcoming with any negative aspects about properties that you are investigating for purchase.
Question: Does a Buyer Representative make decisions for us?
Answer: No. As your personal ally, advocating your best interests, a Buyer Representative is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counteroffers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.
Question: What about negotiating the details?
Answer: First, a Buyer Representative is fully qualified and highly skilled in the back-and-forth negotiations and financing queries that precede the closing of most real estate transactions. Second, a Buyer Representative is also experienced and committed to helping protect your best interests in the purchase. Representing you and supporting you: That’s a powerful combination!
Question: What did you mean by “confidentiality”?
Answer: Since a Buyer Representative is legally obligated to only you, he or she can help you maintain absolute privacy with regard to financial and personal information. That’s another important benefit of working with a qualified Buyer Representative.
Question: Can you help me find and purchase a new construction home?
Answer: YES! In fact one of my specialties is helping my clients find and purchase new construction Homes in Colorado Springs.
Question: Why should I use an agent to purchase a new-construction home?
Answer: The advantages of having me help you purchase a new home are the same as those for purchasing a resale home. I can provide you with valuable insight into the new construction industry, help you find the perfect home quickly, and then provide you with expertise in contract writing, negotiation, and closing assistance. The builder has a professional real estate representative who watches out for HIS or HER best interests, and you need and deserve the same expert representation watching out for YOURS! Buying a new home is a little more difficult and time-consuming than buying a resale home. I can professionally guide you through this process. Having experience with Colorado Springs Home builders, I have a rapport with them and a database of information about subdivisions, floor plans, etc. I am also very familiar with new home warranties and the nuances of the builder’s purchase contracts and various home inspections. It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or a build-to-suit home. These transactions are complex and the contract details must be exactly in order to protect you and to ensure that you get exactly the home you want! And when it comes to the home inspection, I will explain to you why it is essential to hire an independent home inspector to thoroughly inspect a newly constructed home.
Question: Are there any advantages to not using an agent to purchase a new home?
Answer: There is no financial advantage for you to buy directly from the builder. Builders have a “single price” policy, meaning that you will be charged the same price whether your interests are represented by an agent or not. Just as in any resale, the seller pays your agent’s fee. Most builders will MAKE YOU GIVE UP YOUR right to representation if you visit their model homes without an agent on the FIRST VISIT! Therefore, please call me if you would like to look at some model homes, so you are given the representation you deserve!