Buyers Representation

What is a Buyers Agency?
A buyers agency is the highest level of representation afforded to a buyer in a real estate transaction. Buyers agency is defined as a principal-agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer. This mean means that the buyer's agent is tied to the buyer, and that all of their loyalties are to the buyer. An experienced competent buyer’s agent will ensure that your concerns are met at every level. Not using a buyer’s agent is like being given the funds to hire an attorney, but instead choosing to go to court alone to fend for yourself.

Who Does the Listing Agent Represents? The seller or builder of a property is represented by the listing agent. Listing agent is an advocate who represent the interest of the seller, in negotiating price, terms, etc. The listing agent is required by law to represent only the interests of the seller – including in new construction purchases. Listing agents and new home agents are LEGALLY BOUND to represent only the sellers. In fact, the listing agent prohibited from giving a buyer any professional advice or guidance to do so would be practicing illegal undisclosed dual agency. Some buyers are not aware that sellers and builders don’t lower the price of a home just because a buyer walks in without a buyer’s agent.

Why Value does a Buyer Agent Offer to the Buyers? Just as the listing agent represents the sellers interest, a buyer's agent represents the interests of a buyer (purchaser) in a real estate transactions. The buyer’s agent will analyze information such as comparative market data, advice during negotiations and wording of the purchase agreement, and, in general, act as the client’s advocate in the purchase process.

Who Pays the Buyer’s Agent Commission? Real estate transactions, the seller pays all commissions and the buyer receives the full benefit of professional representation. If you are looking at property that is listed on either Georgia MLS or FMLS, the seller has already agreed to pay the buyer’s agents commission for buyer. Buyer agents are paid by SELLERS, not the BUYER so when purchasing a home there is no reason not to be represented by a buyer’s agent. The buyer’s agent service is essentially free to you. An unrepresented buyers are a listing agents dream, since they make the entire commission and do no additional work for you.

Why Sign a Buyer’s Brokerage Agreement? Unless the Buyer has a buyer broker agreement with an agent, their interests are NOT represented. Without a buyer broker agreement with an brokerage there is not a representative looking out for the buyer’s best interests. Buyers are subjecting themselves to the extra work and risks. There isn’t a good reason why a buyer would refuse representation, especially since it’s free. Buyers without buyer’s agents may simply have not been informed that they have a right to be represented. When a buyer broker agreement is signed, a client relationship is formed and the real estate professional is required to represent and look out for the client’s (Buyer) interests at all times – as long as those interests are not illegal.

What are my responsibilities as a buyer in this Buyer’s Brokerage Agreement? In a buyer’s brokerage agreement, buyers agree to handle all real estate concerns through the agent they signed the agreement with. Buyers agree neither to seek real estate information nor to view or purchase any property without the buyer’s agent they signed the agreement with. This agreement is intended to create a mutual benefit for both the Agent and the Buyer. There isn’t a good reason why a buyer would refuse representation, especially since it’s free. Buyers without buyer’s agents may simply have not been informed that they have a right to be represented. You also have a fixed monthly housing payment with a fixed-rate mortgage, the monthly rate of your mortgage won't change for the length of the term.

We are ready to help you through every step of the home buying process.

The Benefits of Home Ownership: Owning a home can improve your quality of life, provide stability and give you a sense of control you just can't get from renting. You have a place to live when you rent, but when you buying you have a home of your own. A home purchase is an important step that can provide many advantages; not to mention a new sense of pride!.

Financial investment: Purchasing your own home is a great investment that can deliver financial benefits. Such as, value appreciation, automatic savings plan. Your monthly mortgage payment creates equity for you, not your landlord. The interest on your mortgage is a tax deduction: While this isn't a reason in itself to buy a home, it's nice to get a break at tax time.

Take the Next Step to Becoming a Home Owner

Step 1: Make your mind up to Buy
The decision to purchase a home is one of the biggest and best choices you could ever make. Whether you are a first time home owner, or you are up sizing or downsizing. After all, a home is the largest - and most emotional - investment most people will face in their lifetime.

Step 2: Working with a Realtor
As your buyer’s agent we will gather information to understand your lifestyle. We will put your interest first. After all this is your dream, and as your buyer’s agent we are your advocate to help you make your dream come true.

As Your Buyer’s Agent We Will:
1. Educate you about the current conditions of the market.
2. Analyze what you want and what you need in your next home.
3. Co-ordinate the work of other needed professionals throughout the process.
4. Guide you to homes that fit your criteria and budget.
5. Negotiate on your behalf to get you the best deal possible.
6. Check and double-check paperwork and deadlines.
7. Inform and discuss with you, and suggest solutions to solve any problems that may arise.

Step 3: Getting Pre-Approved for Financing
To make the financing process as painless as possible, we will introduce you to one of our preferred lenders. This professional will work with you to make sure the financial aspect of your home purchase is stress free.

What will the Lender do for you?
1. Review your current financials.
2. Discuss the options available to you during the home purchasing process.
3. Guide you to an appropriate price point.
4. Negotiate on your behalf to get you the best deal - price, interest rates, and loan approval.
5. Keep you informed and updated of the entire financial process throughout your purchase.

Step 4: Selecting a Perfect Home
So now you're ready to begin your home search. There are a lot of homes out there, and diving in without a guide can become overwhelming and confusing. We will help you locate homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible. You'll learn as you look at homes, your priorities will probably adjust along the way.

Some questions we might ask you may include:
1. What amenities are crucial for you and your family?
2. How much space do you need and why?
3. Which is more critical: location or size?
4. Would you be interested in a fixer-upper?
5. How important is home value appreciation?
6. Is neighborhood stability a priority?
7. Is accessibility to main routes a priority?
8. What features are not negotiable in your new property?

It is a good idea to look for a house you can stay in long-term; one that will “grow” with your family and needs. The financial benefits of owning increase over time.

Step 5: Submitting an Offer
Once you've found a home you love, the next step is deciding on a Sales price to offer. It's important to remember that a home is an investment. We can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to offer price. We are here to explain and guide you through the offer process.

What to consider when submitting an offer?
1. List price - Start with the price point that the home is listed at. This will give you a base when looking at the home's value.
2. Market Analysis - We will give you an idea of comparable home values in the neighborhood to help you decide if the price point is on realistic.
3. Improvements – We can discuss the improvements that may need to be made to the home and help you determine its market value.

Step 6: Due Diligence Period
During the Due Diligence Period You can preform all your inspections. We will provide you with inspectors contact information. This way you'll know what issues the home may have before you complete the purchase. Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction. Very often a problem appears to be big, but can be fixed with very little effort and we will ask the seller to make those repairs before closing.

7. Moving Towards the Closing
Once we have your home under contract, the financing secure and the inspection completed, you're in the "home" stretch! But, in order to ensure that you don't put the property purchase at risk, you have a couple responsibilities that you'll need to keep in mind:

1. Staying in control of your credit and finances - Do not make any large purchases during this time. It's important to keep your financials steady throughout the buying process. Talk to your lender for guidance.
2. Keeping in touch - It's important to stay in constant communication with us and your lender during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. We are here to help you!

Step 8: After the Closing
Remember, just because the sale is complete, our relationship doesn't need to end! After you buy, we can still help you - providing information on the real estate market, finding contractors and repair services, and even tracking your home's current value.