Dear Prospective BUYER - Client,
As of August 17th, all NAR / Realtors are required to enter into a Buyer Broker's Agreement PRIOR to touring a property LIVE or Virtually. Now more than ever, it is important that you choose your Buyer Broker Representative carefully. Choose expertise! This is one of the biggest and to many the most important financial decision you ever make.
I am looking forward to taking this journey with you, and I thank you in advance for your trust and business.
When you reach out to me, these are the following steps:
1. Initial phone conversation to set up an in office meeting with all decision making persons - typically takes two hours depending on whether or not we incorporate the research of properties. At this meeting, we will discuss your needs, wants, desires and get to know each other.
My job is to explain all of the required Local & State disclosures and documents that you will be asked to sign in order for me to work with you. Most importantly, the Agency Disclosure.
2. You will be asked to sign a Buyer Broker Exclusive Right to Represent Agreement PRIOR to me discussing and taking you to tour properties.
3. Upon completion, I begin to explain the process, we will talk about a strategy and I will commence emails with important information to help you navigate the real estate market. I am walking beside you every step of the way!
Just a glimpse into what I do when representing you as a Buyer Broker...
(in no specific order)..
- You will receive weekly updates
- Feedback
- Real-time MLS Listings 24/7
- Market trend updates
- A Comparative Market history price for the property of interest
- My unlimited support
- Real Estate legal knowledge
- My Real Estate Resources & Referrals
- My 25+ years of Real Estate expertise
- My Buyer's Guide
- My Easy to Move Guide
- Other important articles to keep you informed
-
-
Helps you find a home (including counseling on location, neighborhood, schools, etc.).
-
Schedule Home Inspector - ask me for a list of trusted inspectors.
-
Attend home inspections - in most cases, I will attend the inspection.
-
Help appraiser - upon their request, provide access to the property and in certain situations, Comparative Market Data.
-
Negotiate offers - Most important part - skilled on how to write and present your offer & terms to enhance your buying power.
-
Negotiate repairs - if at all possible and depending on the inspection report.
-
Monitor loan process - very important to work closely with your lender to ensure you are receiving the service you require to guarantee a smooth journey to closing.
-
Order title - your lender will order title.
-
Schedule closing - work directly with all involved to schedule a timely closing.
10.Help with finding mortgage lender - I have a list of trusted lenders and many do their own underwriting - my lenders will provide you with a prompt Pre-approval, in certain situations, a pre-commitment.
11.Coordinate showings - once you come across a listing/property, it is them my job to make inquiries to ensure you are entering a completely available property.
12.Protect sellers/buyers by accompanying showings - with notice, I will be there to accompany you through-out all showings, in times when an impromptu visit to an Open House takes place, I will advise you at our consultation on how to handle this and remain protected.
13.Preview properties - to reduce the amount of time you are driving out to properties, I will review each of the properties prior to scheduling an appointment to tour. This is based on your search criteria. Therefore, if you tell me that you do not want to see a property on a main road, I will look at the placement and location of the home.
14.Ensure that buyer clients are pre-qualified with mortgage lender. Before I begin the home search, tour properties with you and or provide any information, you must be pre-approved. Without this pre-approval, I have no way to confirm whether you are financial qualified, what price range I should focus my efforts in and what obstacles if any are to be considered.
15.Identify homes to show that meet buyers’ criteria. - Based on your search criteria
16.Schedule showings of homes with buyer clients, listing agents, and/or home sellers - this takes time and a lot of research.
17. Refine buyers’ criteria and select additional homes to show as necessary - as we move along, you may extend or reduce your search into other towns. You price range may change or you may decide to consider properties that don't necessarily reflect your initial wants and needs list.
18. Write and submit all offers to purchase homes for buyer clients - there may be times where submitting offers on multiple homes is necessary.
19. Negotiate offers to purchase and oversee entire negotiation process - I am with you every step of the way
20. Schedule and attend on-site property inspections with clients and vendors
21. Provide buyer clients access to homes under contract as needed for measuring, inspecting, etc.
22. Promptly return all buyer client telephone calls, texts and/or emails.
23. Gather and answer buyer questions about potential homes and local community
information.24. Provide buyer clients pricing information and market research.
25. Educate buyer clients about home buying process.
26. Regularly assure buyer clients that lead agent is involved and informed.
27. Educate buyers on the teamwork behind managing the home buying process.
-
-
28.Keep lead agent informed on all client communications and developments (copied on all emails and update notes in CRM).
29.Close buyer clients to written offers to purchase.
30.Communicate diligently with administrative staff to ensure the highest level of service to buyer clients from initial contact through contract to close.
31.Regularly attend team meetings. As a Realtor, it is important that I am required to take continuing ed classes and courses to ensure that I am well versed in all local and state laws.
32.Attend all office training for working with buyer clients - it is important that continued training remains current and relevant to the current market
33.As your agent I am responsible for obtaining disclosures, making sure home inspections are completed and coordinating the activities of your lender, attorney, roof inspector and other professionals engaged in your purchase. If bargaining over the price is necessary, I will be your negotiator, and when it’s time to sign the final closing documents, I will accompany you to make sure all the “I’s” are dotted and the “T’s” crossed.
34.To help you buy a home, your agent must have a vast working knowledge of the real estate market, including price trends, neighborhood conditions and amenities, real estate law, zoning issues, financing, taxes, insurance and negotiating. The best agents are also “street smart” in the psychology of home buying and the stresses that accompany it.
35.During your initial meeting, I will typically help you determine the viability of your wants and needs in both a neighborhood and a home. I will help you learn how much you can afford, help you find suitable financing, clue you in on current market conditions and tell you what to expect as you shop for a home. As your agent, I will also devise a strategy or shopping plan based on your needs, how much you can afford and current market conditions.
36.As you shop for your home, you’ll likely meet with your me to tour available properties and discuss myriad details
37.Help to manage the emotional roller coaster that can occur during the home buying process.
And if you own a property! I will be helping you with the sale and acting on YOUR behalf as the Listing agent, representing YOUR best interest.
IMPORTANT
1. What if I don't want to sign a Buyer Broker Agreement? And what would it mean to buy a home without a Buyer Broker representing me?
A: It's simple! Not working with a Buyer Broker means that you are not represented by a Licensed Real Estate Agent who understands the real estate transaction, local and state legalities, nuances, intricacies of buying and selling property. You are forfeiting your right to be represented by someone who works SOLELY FOR YOU!
You are navigating the transaction process on your own, with limited resources, information, and legal real estate knowledge. You are declining professional advice, real estate knowledge of the current market, negotiation support and expertise on submitting an offer and terms that will favor you over other offers presented to the seller, and you are increasing your RISK substantially without the support of a Licensed Real Estate Agent.
Most likely you will not understand your rights, the many complexities that surround getting you to closing, you will lack access to expert advise, you will not have access to the REAL-TIME listings, (all third party sites such as Zillow, are limited in information, and only receive their information AFTER we the agents have listed the property of MLS).
You will not have access regardless of how much research you do on the internet (we know how that goes) on current market conditions for that specific property.
You will not have access to Fair Pricing and Legal protection! This may result in issues that may arise during negotiations. Remember, the ultimate goal is for you to get the home of your dreams!
Not working with a Realtor may very well result in you over-paying for a property, even when and if a property sells for over the asking price, chances are you will overpay and you may enter into an offer and terms that are not in your best interest. Especially so during a Seller's Market. You may also miss out on potential Buyer savings, such as but not limited to Seller Concessions.
Will you understand how to manage the important deadlines? Missing crucial deadlines and critical disclosures. Doing so will cost you thousands, and may very well cost you your downpayment and the property altogether.
Are you well versed in the real estate legal risks and knowledge? Your real estate attorney will handle executing a contract but will not handle the day to day intricacies not to mention driving you around to view properties, negotiate the transaction, be there for you to provide Resources from start to finish, and if they do, it will be at a substantial cost. To be a Realtor is a full time job with demanding hours 7 days a week and over 14 hours a day.
Real Estate selling and buying involves a list of complex legal documents that can vary and that are required by Local and State laws. It is important to work with an experience agent that understands the contractual obligations which could lead to legal issues if not presented to you, explained and executed.
As your Real Estate Buyer Broker, my Fiduciary duties are to YOU, the buyer. The listing agent for the property you are interested in or viewing represents the Seller. That means, they are working in the best interest of the SELLER, not you.
If you feel that you will be saving on commission to a Buyer Broker, think again. The negotiations and risks far outweigh the benefits on saving. The difference is, no one is representing YOUR BEST INTEREST from the moment you inquire on that property, and chances are, you will pay a lot more.
Please contact me today and let's work together on finding you your next Home Sweet Home.
LOVELEE
Direct mobile: 516-695-7534
Email: [email protected]
