Buyers

Pro's and Con's to Buyer Representation

NC Rules and Regulations, National Association of Realtors Code of Ethics and the City, State and Federal Laws of Agency requires that Realtors inform and disclose to all buyers agency representation rules and laws. If you do not choose to hire me to represent you as a buyer’s agent, the law requires that I represent the seller as a sub-agent. 
 
Please compare the following pro's and con's to why it is better for you to have buyer's representation.   

Pro's vs. Con's

As a Buyer's Agent: 

  • Pay full attention to the buyers needs
  • Buyer can talk freely, everything said is held in confidence
  • Suggest alternative solutions, increasing the supply of appropriate properties
  • First opportunity to view new listings always given to those who have committed
  • OKAY for Realtor to give advice accompanied by facts to assist in making an objective evaluation of the property both positive and negative aspects
  • Educate the buyer by comparing competing and closed properties
  • Educate the buyer by planning a negotiating strategy
  • Suggest procedures that will strengthen the buyers negotiating position
  • Price counseling will be given to buyer with all recent sales data
  • Contract will be written with buyer protective clauses included
  • Financing alternatives will be suggested that have the buyers best interest in mind
  • Negotiate on behalf of the buyer
  • Continue service to the buyer during negotiation, by searching for other appropriate properties for the buyer, to enhance the buyers negotiating position
  • Strengthen the buyers negotiating position by telling about past offers and any other information about the sellers that would aid the buyer
  • Share all information about the seller unless the buyer agrees otherwise, any information that would aid buyers position must be disclosed
  • Follow through after the purchase contract has been negotiated attempting to solve problems to buyer’s satisfaction
  • Be available to buyer after closing. Keep all information confidential and provide assistance and referrals

As a Seller's Sub-agent:

  • Maintain loyalty to seller’s needs
  • Tell seller all that you learn about buyer that would enhance sellers negotiating
  • Focus on the seller’s property only
  • Lower level of responsibility to the buyer
  • Material facts and positive aspects will be given but negative aspects of the property will not be mentioned
  • Protect the seller by not comparing properties
  • No education outside material facts
  • Implement negotiating strategy that will strengthen the sellers position
  • Price counseling will be given to support the seller’s price
  • Contract will be written to protect the seller from buyer protective clauses
  • Financing will be directed to protect the seller’s interest
  • Negotiate on behalf of the seller
  • During the term of negotiation, continue to market the sellers home in an attempt to receive a competing offer for the seller
  • Maintain the strength of the sellers by not discussing the details of previous offers or financial position or need to sell
  • Share all information about the buyer unless the seller agrees otherwise, any information about the buyer must be disclosed
  • Follow through after the purchase contract has been negotiated attempting to solve problems to seller’s satisfaction
  • Be available for the seller only after the closing.

Questions? Just Ask!

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