Frequently Asked Questions...
should I use a buyer's agent?
agency sounds too good to be true, what's the catch?
much does this service cost me?
actually pays the buyer agents fee?
is the legal definition of the buyer/agent fiduciary
choosing a real estate agent, what is my option?
you help us obtain a free mortgage pre-approval?
do you find a home to match my needs?
I have many homes to choose from?
will I receive my daily home updates?
this is so good for the consumer, why isn't everyone
offering buyer agency?
would you want to negotiate a lower price for the buyer?
Won't that reduce your commission?
last time I bought a home, I thought my agent did a
good job. Why should I consider a buyer agent now?
any real estate agent be a buyer agent?
I get a better deal if I buy directly from the listing
seller agents have problems dealing with buyer agents?
would the seller's agent put the home into (MLS) Multiple
Listing Service, won't they make more money if they
sell the home themselves?
is the "due diligence" service that you offer?
other differences can I expect from my buyer agent?
do you pay for the buyer's real estate attorney?
you help us select our home inspector?
own a house that I will have to sell in order to buy
a new home. Can you help me with the sale of my house?
should a buyer know about attending open houses?
should I use a buyer's agent?
A. The emergence of
buyer agency is probably the most significant change in the
estate industry in the last 50 years. Buyer agents help homebuyers
search the entire market for the best possible home and then
negotiate for the best price and terms. They also help buyer's
shop for the best terms for a mortgage loan, the most effective
real estate attorney; the best qualified home inspectors
and home insurance. As a homebuyer, if real estate was a
match, every time you step out on the court you are always
alone and facing a doubles team of the seller and their agent.
While a friendly agent may have introduced you to the game
and given you a grand tour of the court, he or she is on
the seller's side of the net to help them. Hiring an exclusive
buyer's agent specialist makes the game equal, or to your
After riding around in a car with a real estate agent for
two weeks looking at houses, bonding, confiding your finances
motivation, you may assume the agent is negotiating for your
best interests. Wrong! Traditional real estate agents always
represent the seller and are obligated by law to share their
information about you for negotiating the best possible deal
for the seller. Unless you specifically contract with a buyer's
agent to represent your best interests, the agent, even if
it is your neighbor and best friend, legally must remain
loyal to the seller. A negotiator can only take one side!
or the other. Hiring a buyer's agent eliminates any uncertainty
of getting the best deal possible. It's what you hire them
to do! An exclusive buyer agent is your full time advocate,
researcher, advisor, confidant negotiator and community expert.
Hiring an exclusive buyer agent gives you an immediate advantage
in the home buying process. I represent buyers only. I never
represent sellers! There is never a conflict of interest!
With an exclusive buyer agent working for you, you are on
footing with the seller.
Buyer agency sounds too good to be true, what's the catch?
A. This is a question that
all the time! There is no catch, I work for you! Once homebuyers
realize that there is no catch, no strings attached and no
downside to hiring a buyer agent, they are thrilled with
the benefits and the clear advantages of exclusive buyer
Q. How much does this service cost me?
A. There is no additional
costs to you for our service! Although you are hiring the
buyer agent, the compensation usually comes from the real
transaction. You as a buyer, have included the buyer agent's
fee in your OFFER to PURCHASE .
Q. Who actually pays the
buyer agents fee?
A. You do! You have always paid it in the
price of the home! It is included in your offer price for
that home. You just haven't received representation for your
The cost-of-transaction has always been taken from the money
you paid the seller. It was just labeled differently at the
closing. The seller called it their expense and deducted
it from their asset basis when figuring taxes, but the money
came from your savings or the amount that you borrowed for
the mortgage, and was part of the sale price of the home.
Q. What is the legal definition of the buyer/agent
A. The fiduciary relationship between the buyer and their
buyer agent is based upon trust, including, Undivided Loyalty,
Full Disclosure, Confidentiality, Reasonable Care and Diligence,
Accounting of Money/Property.
Q. When choosing a real estate
agent, what is my option?
A. Exclusive Buyer Agent: I
work exclusively for the homebuyer! I do not take property
and 100% loyal to the buyers 100% of the time. I adhere to
a very strict standard of practice and code of ethics. I
am required to negotiate the lowest price and most favorable
for you, the buyer client. In addition, I give you reasons
not to buy the property, we also advise you on property flaws
for negotiation purposes. I renegotiate the flaws after the
home inspection. I am a true consumer advocate! There is
no additional cost to you?
B. Seller's Agent: Traditional agents
who represent home sellers in all dealings with potential
buyers. They take listings and also sell to buyers unrepresented
the transaction. They are legally bound to negotiate the
very best price and terms for the seller and to disclose
seller all that they know about the buyer. Why would you
work with an agent who is under contract with the seller
them the best possible price for their home?
Buyer Agent: These buyer agents work in real estate offices
where listing agents represent sellers. They don't specialize
in buyer agency service and often resort to dual agency
when the buyer is interested in a property listed by their
When you interview this type of agent, you need to ask
them how they handle conflicts of interest. Why would you
with a real estate agent who may choose to be disloyal
D. Dual Agent: Real estate agents attempting to
the buyer and the seller in the same transaction. Undisclosed
dual agency is illegal. Disclosed dual agency is only
legal if there is full disclosure to all parties of potential
conflicts of interest and the implications of this watered
Under this arrangement both the buyer and the seller
to give up their rights to loyalty, advocacy, opinions
of value and negotiating help. The Bible says you cannot
serve two masters,
so why would you agree to this type of relationship!
you help us obtain a free mortgage pre-approval?
Having your mortgage pre-approved makes you the same as being
buyer" when your buyer agent is negotiating the sale
price on your new home. Your offer will be accepted over
pre-qualified buyer offers! We have lenders who will pre-approve
you at no charge.
Q. How do you find a home to match my needs?
A. All homes that are currently available on the market
(listed) are fully available to you via our membership in
Multiple Listing Service. I simply listen to your needs,
wants and payment requirements, and then match you to the
are available via the large inventory of homes that are currently
for sale. I then locate the best homes and negotiate the
best price and terms on your behalf.
Q. Will I have many
All agents have access to the exact same "pool" of
homes on the market. My computers will provide you with free
daily access to the multiple listing service for the entire
state of Massachusetts. This makes the home buying process
faster, easier, and more economical. I want to help you save
time and money on your home purchase. You will receive full
listing information including photos and the addresses. I will
help you search and find your new home as if we were looking
for our own home! This service will put you the buyer, in the
driver's seat! You can shop the entire homes for sale market,
not just the homes that the seller's agent decided to advertise.
I will also search the for-sale-by-owner homes, new construction
and even homes that are not on the market for you. You can
do "drive-bys" on all of the homes available at your
own pace and pick the "best of the best" within your
price range. My mission is to make sure that you have access
to "every home that is currently available!" Once
you find your perfect home, there will be absolutely no doubt
in your mind, as you will be completely educated regarding
the entire homes for sale market.
Q. How will I receive my
daily home updates?
A. It's very simple! All I need are the
towns, the type of home and the price range that you are
interested in and I will take it from there! I will email,
or mail all of the homes that are available within your guidelines
to you on a daily basis. Your daily home listings will include
full information sheets and the addresses!
Q. If this is
so good for the consumer, why isn't everyone offering buyer
Many realty companies are resisting change because they
like the old way of listing homes and representing sellers
as their clients, and the buyers as customers. This has been
their source of income for many years. Other companies across
the country are changing their methods just enough to accommodate
the growing consumer revolution of buyer agency. They offer
you buyer agency and then can switch to dual agency when
they have a new home listing! Exclusive buyer agency is recognized
as a growing, new industry and one that is definitely here
to stay. The consumer has demanded change and "exclusive
buyer representation" is the only way!
Q. Why would you
want to negotiate a lower price for the buyer? Won't that
reduce your commission?
A. The way that a multiple listing
normally works is that on a 5% commission, 2.5% would go
to the listing agency and 2.5% to the buyer agency on behalf
the homebuyers. The commission is then split again 50/50
between buyer agency and the buyer agent. Thus, for every
we reduce the sales price, your buyer agent's commission
will be reduced by only $12.50. It is our job to make sure
you are an extremely happy, fully educated real estate consumer.
Q. The last time I bought a home, I thought my agent did
a good job. Why should I consider a buyer agent now?
are good agents everywhere, but unless the agent you mentioned
declared in writing to you that he/she represents only you,
that agent probably was the seller's agent. Even worse, the
agent could have been an undisclosed dual agent--which is
Our industry has tried for years to represent the seller
client while working with the buyer as a customer only. Required
disclosure changed all of that! Buyers discovered that they
had no representation, much less "exclusive" representation.
The buyer demanded change, because they have long realized
that they are the true source of all the funds for the purchase.
We believe the consumer deserves, and needs, equal representation.
Q. Can any real estate agent be a buyer agent?
Any licensed agent may be a buyer agent. The keyword is "exclusive" and
only a few have made the total commitment to become exclusive
buyer agents. We don't believe you can list homes for sale
and then turn around and try to represent the buyer on those
homes. This creates a conflict of interest for both buyers
Q. Won't I get a better deal if I buy directly
from the listing agent?
A. NO! The listing agent owes his
or her loyalty to the seller and is required by Massachusetts
State law to get the best deal for the seller. The listing
agent must negotiate the price upward! The buyer agent has
the obligation to work on your behalf and will negotiate
price downward. The negotiating process may include price,
closing costs, terms, closing date and repairs. I work exclusively
on your behalf. This is a major homebuyer advantage!
seller agents have problems dealing with buyer agents?
A. No! Most homes that are listed with the multiple listing
are sold as co-brokes. That normally means that the listing
agency receives 50% of the commission and the sub-agent or
buyer agency receives the other 50%. The seller agent's primary
job is to get the seller's home sold in the shortest period
of time with the least inconvenience to the seller. The seller
agent doesn't get paid unless the home sells!
Q. Why would
the seller's agent put the home into (MLS) Multiple Listing
Service, won't they make more money if they sell the home
A. Sellers insist on the exposure that MLS gives
According to the MLS, it is rare for the listing agent to
sell their own listing. In fact, 90% of the time the commission
will be split between the listing agent and a seller sub-agent
or buyer agent that brings the buyers. In addition, per the
MLS rules and regulations, the seller's agent has 24 hours
from the time the seller signs their listing agreement to
the home onto the MLS computer and out to all of the real
estate agents. We make sure that you are updated on a daily
on every home within your price range!
is the "due
diligence" service that you offer?
A. Before you make
an offer on a particular home, I will do a competitive market
analysis to determine the value of the home and what price
you should offer. I also search the public records, prior
listings, how long the home has been on the market, any price
Q. What other differences can I expect from my
am not salesperson, I am a true consumer advocate!
When you hire an exclusive buyer agent, the entire home buying
process changes. Unlike the seller's listing agent who is
hired to use salesmanship to press the sale of a particular
by selling you on the good points only, the buyer agent will
help you discover both good and bad features of all the homes
that fit your needs. An exclusive buyer agent will also prepare
a contract that offers the buyer client better terms and
conditions and will target closing dates that favor the buyer.
exclusive buyer agent does not represent any sellers, the
agent will also look more diligently for a home to suit your
I make the entire market "your market." I will
protect your interests should any problems arise during home
and will always negotiate in your best interest.
Q. Why do
you pay for the buyer's real estate attorney?
A. It is
our job to protect you! In the past, most buyers relied
bank's attorney to protect their best interests. When
in reality, the bank's attorney was only protecting the bank's
Every homebuyer needs legal representation! Almost every
contract that you will touch in a real estate transaction
offer forms/purchase and sales agreements) were written
to protect the sellers.
Q. Do you help us select our home
A. Yes! I know who the very best home inspectors are!
need an inspector that will go through your new home
with a fine
tooth comb! If your home inspector finds any major
or minor problems, it is your exclusive buyer agent's job
with the sellers or the seller's agent to remedy
the problems that were found in the home inspection, or to
sales price accordingly. This becomes the buyer's
Q. I own a house that I will have to
sell in order to buy a new home. Can you help me with
A. No! I can't represent you in the sale
of your existing
house. However, having been seller agents for
over 15years prior to becoming exclusive buyer agents, I
help walk you through the process of selling the house
or I can refer you to the very best local listing/seller's
agent to represent you.
Q. What should a buyer
A. Buyer Be-Aware! Ninety-nine
percent of the time, if you walk into an open house, you
the agent who listed the house or their seller
legal responsibility is to separate you from
as much money as they possibly can for their client,