EXCLUSIVELY REPRESENTING REAL ESTATE BUYERS

SERVING THE ENTIRE LANCASTER COUNTY

Probably not! Unless you have an agency agreement with a promise of representation, the agent showing you homes will be acting on behalf of the seller. Sellers who "list" their homes for sale have signed a listing contract with the real estate company. The listing contract obligates the real estate Company, and all of the firm’s agents to represent the seller in the transaction. This same contract permits the listing agent to use "sub-agents" to help find a buyer. The sub-agent may even be from a different real estate company. The sub-agent’s role, just like the listing agent’s role is to get the highest possible price and best terms for the seller.

With increasing demands for buyer representation, traditional listing companies are trying to find a way to represent buyers. However, they have a serious problem. Agents with large brokerage firms are unable to exclusively represent home buyers because they are already obligated to represent the seller on all company listings. The listings belong to the real estate company and all the agents affiliated with that firm are bound by the promises of their company. One of those promises is to get the highest prices and best terms for the seller. (Is this starting to sound familiar?) The traditional real estate company simply cannot obtain the highest price for the seller and get the lowest price for the buyer.

A buyer’s broker is a real estate broker, or agent, who represents the interests of a purchaser instead of a seller. Buyer is the client of the agent. The buyer’s broker has a legal obligation to obtain the best price and terms for the home buyer.

The difference is in the representation. An agent is an employee of a client. The agent owes the client fiduciary duties that can be summarized by the initials T.L.C.-trust, loyalty and confidentiality. If you are not the client, the agent will treat you like a customer. Agents are required to treat customers with honesty. "Buyer brokers will better represent the interests of buyer than will sub-agents. they are more likely, for example,to negotiate a lower sales price on a house."-American Association of Retired persons

Not legally. A sub-agent would be liable for any breach of duty to the seller if they help you in any way that is not in the best interests of the seller. For example, a sellers agent will not suggest that you write an offer that requires the seller to pay mortgage discount points or make repairs to the property.

Yes. Beware of any agent who offers to function as a"dual agent" or "double agent". Everyone knows you cannot serve two masters. Check with a good real estate attorney before you get involved. If you do accept this arrangement, be sure that you demand a strong reduction the commission. After all, you will suffer a reduction in the services. Many traditional real estate companies have a commission structure that includes an incentive for the agent to sell their own company listings. If the seller has a representative you should have one too.

Yes-it can make a big difference! Consider this. When a famous sports personality like Roger Clemens enters contract negotiations with the team management, does he use the team’s agent? Certainly not. Roger hires his own agent. If you were the defendant in a lawsuit, would you use the plaintiff’s attorney for your defense? Of course not! In the real estate market, we have a very similar situation. without an agreement to the contrary, all real estate agents represent the seller.

In 1983,the Federal Trade Commission found that more than 70% of all home buyers mistakenly believed they were being represented by the agent showing them homes. As a result, most states enacted consumer protection laws that required real estate agents to disclose, to consumers, who they represent. In 1992, a study by the Consumer Federation of America, an organization of 250 pro-consumer groups, found that homeowners overpay for their houses primarily because there was poor compliance with the new disclosure laws. Unfortunately for consumers, the forms were vague and poorly understood by most agents. The forms fail to indicate that the consumer has a choice about representation (unless it is an agent who wants to do representation will use the form that tells you about your true choice.) and rarely will an agent suggest alternatives that would enhance the consumer’s position at the expense of the agent. Too often, the forms are thrust upon the consumer with the false notion that the consumer’s agreement is mandatory.

Hire your own agent! Put an expert buyer’s broker in your corner with  Buyer’s Edge Realty

We use a written agency agreement. The agreement is our pledge to work in your best interest and it authorizes Buyer’s Edge Realty to represent you.

Nothing extra. After hearing about all the wonderful services and advantages available, as a client, you would expect to pay a premium fee. Home buyers are often suprised to find that using the services of Buyer’s Edge Realty will not increase their costs. In fact, most buyers find that we can help save them thousands of dollars in real estate costs. Our compensation comes from the proceeds of the transaction, unless you choose otherwise, This means that the buyer does not need to bring any extra money to closing.

For every $1,000 that Buyer’s Edge Realty can save you on the price of the home, it reduces the commission by about only $30. We will gladly help you save thousands of dollars because our business depends heavily upon referrals from happy clients, not to mention the fact that we are legally required to work for the best interests of our clients.

Absolutely yes, and more! We are members of the local board of REALTORS and subscribe to the MLS service. Our office features high speed computer with 24-hour access to on-line databases of property information. We can often tell you what the seller originally paid for the house. Unlike a traditional firm, we also enjoy easy access to every home offered for -sale-by-owner. In some situations, we will even conduct property searches among homes not even offered for sale. We can also help new construction buyers choose lots and select builders for custom built homes. You will find that we work hard to find the right home for you.

Let’s examine what a traditional seller’s agent can do for a buyer. Seller’s agents provide some services to the buyer since they want to "make the sale." They are allowed to:

1. Provide information about MLS listed properties only.

2. Provide information on sources of financing

3. Show you properties and highlight the features

4. Disclose material defects only

5. Promptly submit your highest purchase offer

6. Respond honestly to questions without compromising loyalty to the seller

7. Comply with fair housing regulations

Let’s look at some of the ways Fidelis BUYER’S EDGE REALTY can help you.

1. We can provide all the services of a traditional seller’s agent plus

2. Pledge to represent you!

3. Work on your behalf at all times!

4. Provide complete obedience, within the bounds of the law!

5. Prpare, discus and interpret market statistics for you!

6. Help you determine the most favorable mortgage for your situation!

7. Search all available properties, including those offered FOR SALE BY OWNER

and others!

8. Locate, show targeted properties!

9. Openly discuss the flaws and features of every home!

10. Perform a competitive Market analysis(cma)of chosen properties!

11. Advise you on an initial offer price and negotiating strategy!

12. Help you write an offer with favorable purchase terms!

13. Prepare an accurate estimate of all closing costs!

14. Conduct your offer presentation in a professional manner!

15. Negotiate with the seller or builder on your behalf!

16. Keep your information and negotiating agenda confidential!

17. Consult and advise you about any counteroffers!

18. Help you arrange professional property inspection!

19. Shop the loan package with lenders for favorable loans!

20. Verify that all negotiated repairs are properly completed!

21. Review closing statements documents for accuracy!

Our buyers can save thousands of dollars simply by:

1. Having the seller pay a warranty for the buyer’s benefit!

2. Negotiating property repairs to be done by the seller!

3. Cutting or reducing some of the usual buyer’s closing costs!

4. Finding competitive financing for the home!

We can help you buy single family homes, duplexes, townhomes, condominiums, Farms, lots, raw land, apartments, commercial/industrial land and improved commercial/industrial buildings.

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