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WHAT YOU SHOULD KNOW BEFORE BUYING YOUR FIRST HOME?

Posted by admin on May 19, 2021
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FREQUENTLY ASKED QUESTIONS

  1. Do you have to pay a Buyer’s Agent from your own pocket? Answer: Sometimes. If a house is listed, I can get paid from the Seller’s Agent commission and it costs you nothing! However, if the Seller Agent offers a very low split or if you want to purchase an unlisted home (with no Seller Agent commission), you may have to pay all or some of my fee. Often you’ll save enough money on the home purchase that this fee can be financed into your mortgage!

 

  1. Do you lock me into a contract like other Buyer Agents? Answer: No. I DO ask that you deal fairly and honestly with me. However, if you are unhappy with my services, you’ve notified me in writing and given me time to correct the problem, but I haven’t or can’t meet your expectations thereafter, you are free to change agents. We are a team, but if the team doesn’t work well together, they should split up. That’s just common sense.

 

  1. Why are you a Buyer’s Agent? Answer: Before entering the Real Estate Market as a professional, I am a General Contractor, Construction, Environmental & Ecological Engineering, and Energy Conservation as well as Real Estate Investor. I’d already bought homes for personal use and investment. My personal experience has been that the Seller ALWAYS had the advantage in my real estate dealings and didn’t seem fair. I didn’t know about Buyer Agency then. Once I did learn about Buyer Agency, I realized that this type of representation could have really helped me and I decided I wanted to offer these advantages to other buyers. For me, Real Estate is very, very personal. I understand the fears and concerns of buyers and I’ve dedicated my career to helping Buyers by making it as easy as is humanly possible. There is no greater feeling that walking into a home and KNOWING THAT IT IS YOURS! I want to help everyone to experience that wonderful feeling!

 

  1. What is Dual Agency and why is it NOT to YOUR advantage? Answer: Dual Agency means one Real Estate Agent or Broker represents both the buyer and the seller in a transaction. However, if the interests of the buyer and seller are contrary to each other (which is usually the case), how is it possible for one entity to represent both of their interests effectively? The truth is “They Can’t.” Since NYS Law states that Sales Agents and Brokers MUST always represent the interests of the Seller, it means that the Buyer is not Truly Represented in a Dual Agency transaction! Only a Buyer’s Agent can truly represent a Buyer.”

 

  1. Why do Real Estate Agents and Brokers engage in Dual Agency? Answer: More Money! By engaging in Dual Agency the Listing Agent and Broker is ensuring that they don’t have to split or share their commission with other Agents or Brokers. This benefits neither the Seller nor the Buyer! Dual Agency is not in anyone’s best interest but the Listing Agent and Broker.

 

  1. Does this mean that you don’t act as a Listing Agent? Answer: No, I DO have clients who ask me to list their properties. However, I DO NOT engage in Dual Agency. I represent Only a Buyer or Only a Seller, NOT BOTH (unless specifically asked to).

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