What is a Buyer Agency?
Unless specifically agreed otherwise, a real estate agent represents the seller in a property transaction. That agent’s responsibility is to protect the seller’s position – not the buyer’s! With a buyer agent, you are assured that your agent is working to promote only your interests. A buyers agent is paid from the commission on the sale of a home. Any home listed in the MLS, Multiple Listing Service, advertises a contracted commission to any agent who represents a buyer for the property. Avoid the four biggest mistakes many buyers make.
Is a Higher Price Needed to Cover This?
That is almost always NOT TRUE because the seller has ALREADY agreed to pay a full (read double) commission to his or her agent which they only have to share IF the buyer has his or her own agent. If the buyer does not, the seller still has to pay the higher amount. The contract does not allow there to be a savings if there is not a buyer’s agent. So two agents is not a recipe for a higher price. But it is a recipe for real negotiations.
Why select Sage as a buyers agent over a regular Agent?
A Sage agent will never try to sell you a house listed through Sage. Even if you have designated a “regular” agent to be your agent they may still have listings. That potential for conflicts can be eliminated by using a buyer’s agent whose office policy is not to tout its listings. Plus, it’s like using a medical specialist. All they do is address buyer issues.
Will the Agent Want to Push for a Higher Price?
If an agent is compensated based on the sales price, won’t that agent have an incentive to push a higher price? You might think so, but the difference in commission is actually not worth an unhappy client. If the agent has done his or her job you will be educated as to the correct price and will know you are not overpaying.
Can A Buyer Agency Help Me Sell My Home?
Of course! Sage acts as a Buyers Agency for Buyers, but as a Listing Agency, with a contractual responsibility to you, the seller, if you are selling.
Can I Add an Agent Later?
If you attend an open house without an agent can you retain your own agent later if you decide to buy the house?
Depends. Many listing agents will balk at sharing a commission if they feel they “sold” you on the house at the open house. Better to have your agent first.
What are all those initials?
When you see “ABR” after an agent’s name, you know you’re working with a committed agent whose focus is on your best interests. This designation is awarded by the Real Estate Buyer Agent Council (REBAC) only to REALTORS® who meet specific educational and experiential criteria. It stands for Accredited Buyer Agent.
An “Esq.” means the person is also an attorney, trained as an advocate and skilled at negotiating for YOU.
“EPro” means the agent has passed a rigorous course centered around real estate technology.
“SRES,” Senior Real Estate Specialist, is a Realtor® who has qualified to specifically address the needs of buyers 50+ through major financial and lifestyle transitions in relocating, refinancing, or selling the family home.
“ALHS,” Accredited Luxury Homes Specialist, is a Realtor® who has taken specialized training to address the fine points of the luxury home buyer.