What type of service do you expect from a buyer’s agent?
I don’t want to be “serviced”. I want to formulate a relationship with someone that want to work towards my goal. This takes honesty & integrity. These are not just cheap words to be taken lightly by realtors. So few realtors that I have known exemplify this. A realtor that exemplifies honesty and works hard to show me the buyer that he/she understands what I’m looking for is the realtor that gets my business, one that negotiates and fights hard to lower the crazy asking prices out there in the market today. You need someone that isn’t after the commission, but after one thing… to protect the interests of the buyer. They say it’s a buyers’ market well it sure doesn’t feel that way. If I have one more realtor tell me that I should buy every home that I see because the market will keep rising… I think I’m going to scream.
What would you want a Buyer’s Agent to do for you that you haven’t experienced yet?
Most of what I have said above applies here… formulate a trusting relationship based on fact and truth, but beyond that you must understand your client. Provide me with information such as a CMA in graphic format that is easy to understand quickly before we see the home. The past 7 years have brought a sellers’ market that we have not seen in history partly due to 9/11. Therefor realtors did not need to work hard to earn the sale. The sales were coming by the hundreds with ease. Well 2005 is in the past and that era is over, its time for those good realtors out there to start working again. Those that will are the ones who will get the commissions. It’s simple.
Would you rather the seller paid the buyer’s agent’s commission or would you pay the 2%-3% of the home sale price to your agent instead of having it in the list price?
Most definitely… as a buyer I would pay the commission. Any buyer who thinks differently does not understand what is at stake here.
Would you want to hire a lawyer to defend your rights when you know that lawyer will get paid by the counterparty? Where do you think his/her loyalty will be? This isn’t how it works believe it or not in real estate. That’s right your buyers agents get paid by the sellers at the time of sale. Oxymoron don’t you think? How can they be loyal to the buyer? That’s BS.
However, I would pay it if the agent can insure that they save me money… for example, let’s say that perhaps we sign a contract that states that the realtor of choice will be my exclusive buyer’s agent for A certain period of time and that you agree to pay the realtor his commission of 2% if he/she saves you 5-7% below asking price or 3% if the savings are 7-10% below or 4% 10-12% below and so on and so on. You see, this is the only way that you will see the difference between one realtor and another in terms of their negotiation abilities. The more they save you the more they make. Everyone is happy. And by exclusive, I mean exclusive only to the properties that you show me as a buyer. Why should I only lock myself to one realtor when I have not seen what this person is capable of? The harder you work to show me homes that i am looking for the better your chance to get the sale
Buyer’s agents use a number of different things from recipe cards to market statistics to follow up with their clients until they are ready to buy. What do you think the agent should do to keep you interested until you are ready to buy?
It’s simple… don’t be pushy. Show me homes I want to see. Understand who I am. Be honest. Work hard. Get me the information I need to make an educated decision.
Stop it with these recipe cards. We are all different. We are unique in out wants needs and desires. This isn’t a bakery where if you have a recipe that you follow to the tee and you get the exact size shape taste color texture out of the oven. Same goes for market statistics to a certain extent. They are only a tool to educate the buyer. Follow up is very important, but don’t be pushy. Know the difference.
What do I think the agent should do to keep me interested until I am ready to buy?
Well, show me our track record. If prices are increasing show me, if prices are decreasing, show me, if one home is bigger or better than the other, then show me.
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