Home Buying Your Buyer's Agent
 
Home Buying Your Buyer's Agent

Smart Homeowners Team Up With The Best

Your Buyer's Agent

We believe that is critical when purchasing real estate for a Buyer to work with a Buyer’s Agent. Many real estate agents and companies try to represent both the buyer and the seller in order to maximize their commission.

Obviously, a real estate agent or company cannot represent a Buyer’s best interests fully, while also representing the seller. As a potential Buyer, you need a real estate agent who will represent your interests, you need a real estate agent who will negotiate hard on your behalf, you need a real estate agent who focuses on services that benefit buyers and you need a real estate agent who is knowledgeable about the things that are important to you as a buyer. What you need is a Buyer’s Agent to work with and for you!

Understanding Agency

Who represents you in a real estate transaction? A few years ago, The national Association of Realtors (NAR) had a policy called sub-agency under which Realtors worked. Simply put, Sub-agency states that the Realtor taking you to a property listed with another agent is really representing the seller, not the buyer. They may not have explained it that way, but legally that’s how sub-agency worked. Fortunately, NAR has released Realtors from sub-agency and there are a variety of ways you can be represented. You have Buyer’s Agents, Seller’s Agents and Dual Agents in South Carolina. Discuss agency with your Realtor. Understand what circumstances create certain representations. Make sure your agent can and will represent you exclusively, 100% of the time and on every property.


Choose the Right Realtor
You have an idea about the style and prices of the home that you want. Discuss with prospective Realtors how they will go about finding the right property for you. Make sure you understand for whom the Realtor is working, the seller, the buyer, or is he/she a dual agent. You must feel confident that the Realtor has your best interest in mind at all times on all properties. The Realtor coordinates the home finding experience and may, if he/she works for you exclusively, give you advice and counsel.

It is our goal to make the process of buying real estate as seamless and stress free as possible. Whether you are buying your first home, are thinking about upgrading your current real estate, are interested in adding investment properties to your real estate portfolio, or are contemplating relocating to another area, we will help you make a successful real estate purchase.

A Buyer’s Agent pledges to work for you, the Buyer

  • To seek property that best fits your needs
  • To review pricing policies and trends
  • To help you analyze and select neighborhoods, schools, driving distances, a closing attorney and so on
  • To negotiate on your behalf with your best interests at heart
  • To provide assistance and guidance with mortgages, insurance, warranties, inspection, repairs and any other service that makes your real estate purchase as convenient and as affordable as possible.
All with the objective of making the purchase process beneficial to the you!

 

 
A Buyer's Agent Provides Education and Professional Guidance

The primary focus of a Buyer's Agent is to discover your real estate needs and wants and then to help you find what you want at the best possible price. A Buyer's agent provides professional help, guidance, and education so you can achieve your real estate needs and desires conveniently and affordably.

We help you understand...

1) Understand the local market. Most buyers believe what they hear. What they hear from other Realtors, from the media, and from friends and family. We educate you on the true local market conditions in your target neighborhoods. We help you understand all the  market date such as;  the AVG days on market, List to sale ratios, absorption rates and area pricing trends so you can make informed decisions.

2) Understand Agency. Most buyers, especially first time home buyers do not understand agency. It always amazes us how some buyers find properties. They search online, gather listings, and then call the Listing agent to set up a showing. Most buyers are unaware of agency and do not understand the fiduciary duties of a Listing agent. A listing agent is required to get the highest price possible for the property and to protect the seller's best interests.  It is our  job to educate you on the importance of agency before you look for homes. A buyer's Agent works sole for you wiith your best interests at heart.

3) Understand How We Get Paid. Most buyers think they have to pay a buyers agent. In our area the seller always pays us (unless the property is listed by a For Sale by owner, and no compensation is offered). We meet a lot of buyers for the first time and they always ask me what our fees are? Don't be confused! You do not pay us if the property is represented in the multiple listing service, we receive 100% of our fee from the seller.  

4) Understand Our Real Estate Contracts.  Most buyers do not understand real estate contracts. We sometimes assume you understand real estate terminology, the purchase offer contracts, and all the addendum's / disclosures of the seller. It is our responsibility to explain the whole contract. This can be explained at the beginning of the buying process or once an offer is written.  We take the time to educate you of the contract process.

 5) Understand the Purpose of a Home Inspection.  Most buyers do not understand that the home inspection is a contingency to the contract if performed. This home inspection is for your protection. Most are unaware of how contingencies work, and that they need to remove their contingency or decide not to purchase the home. Some buyers think the purpose of the home inspection is to give the buyer the ability to negotiate again to get the home for less money. Of course this can happen, but it is usually not the purpose of a home inspection.

 6) Understand the Negotiation Process. Most buyers do not know how to negotiate and look to us to help them. Most first time homebuyers are unaware of how the process works. Most do not understand the market as most real estate professionals do. Most do not understand pricing trends in neighborhoods. Most do not understand that offering the wrong amount on a home can hurt them and not help them reach their goals. Most do not understand multiple offers or contingent and recall clauses. The buyer always makes the final decision, and it is our job to guide you with education and professional advice so you make only informed decisions.

 7) Understand Their Legal Rights. Most buyers do not understand the legal aspect to real estate transactions. Instead of advising buyers of their legal rights, we always recommend you hire a real estate attorney. In the Myrtle Beach area there are often two attorneys involved in the real estate transaction (the sellers and the buyers) and in many cases one attorney will provide transaction services to both buyer and seller. You must know the roles roles of each, your rights, and basic real estate law, but leave the legal advice to the professionals.

 8) Understand the Purpose of the Final Walk Through. Most buyers do not understand why a final walk through is necessary. We have found many issues with a property at the time of a final walk through that did not exist when the offer was made. Or, items were missing from the property that should have stayed in the home, such as a refrigerator. Moreover, items were left at the property that did not belong, such as paint cans, or furniture and debris.

9) Understand the Loan Process. Most Buyers that have never purchased a home do not understand how the loan process works. We recommend obtaining information from at least three mortgage professionals. We provide you the contact information for mortgage professionals that have proven to among the best in the area. Their job is going to be to educate and explain the mortgage process to you and provide you with a loan at very best rates.

10) Understand Your Website, IDX, and How to Search for Homes. With 87% of buyers starting the process on the Internet, many agents assume that you understand real estate technology and how to process all this information. Think about it, most real estate agents do not understand this new technology. The shift in real estate to the Internet is a good thing, but also a bad thing if we do not make our websites user friendly and still provide guidance on how to search for homes online. Example: When we meet a new buyer for the first time, often they are holding pages and pages of real estate printouts from the Internet. The reason for this is that buyers do not understand that they can obtain all this information from one source, rather than going to 10 different websites... Once we explain that we want to simplify their search and they no longer have to search on 10 different brokers websites, they can't thank us enough.

This is only a short list on how we can help you as your buyer's agent. Even though real estate has transformed into an open exchange of data and information, most buyers today still need our professional help and guidance in finding their ideal Myrtle Beach home.