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ON THE SUBJECT OF REALTY REPRESENTATION...
By way of introducing this subject, we would like to talk a bit about "specifications"! You're going to define specifications for that new home. Why not define specifications for the services you secure to help you buy it! Let's see how many on this list are important to you.
1. Knowledge of the profession of real estate brokerage....the practice and the players.
2. In depth knowledge of the market...."you gotta know the territory"....first!
3. Impartial access to the whole market, and more....everything that's listed in the MLS, plus FSBO's, new-builds and homes otherwise not actively listed.... with every one viewed with absolute objectivity!
4. Resources and Information....impartial, objective, factual information about the process and the place; schools, communities, market data, churches, recreation....
5. Understanding of the relocation process and its often-emotional facets, including the need for information and direction long before your first visit.
6. Careful development, with you, of important buying goals....listening carefully to your needs and wants....help with focusing and analysis.
7. Strict attention to the first and foremost buying goal....setting up critical resale for the future while not sacrificing livability and comfort now.
8. A proactive advocacy in serving your interests, along with strict confidentiality, absolute disclosure of all information, and acceptance of responsibility, from the search through the closing and even beyond.
9. A critical eye searching for problems; a "devil's advocate", making sure the negatives as well as the positives are identified.
10. Uncompromising loyalty in serving your interests....to the total exclusion of all other interests, including those of the realty company, and every single seller we deal with.
11. Hospitality....a home away from home until you select your own....a pleasant adventure while making wise decisions about your future.
12. Costs justified by the benefits, and none in addition to traditional fees.
13. Freedom....to walk away....if you're not pleased with the relationship.
(Footnote: In the above exercise, while all of the "specs" are enhanced by exclusive buyer representation, there are three, right in a row, that cannot be practiced except with exclusive representation. Can you pick them out? Answers at the end of this article.)
We might suggest these several conclusions:
First, while there's a host of responsibilities here that a real estate brokerage must accept, there's only one way to put all these benefits up....and that's to vacate one side of the transaction....the seller's side. That's what exclusive buyers agencies are all about...they come, as a matter of policy, to represent only buyers...all the time!
It's not too good to be true, nor is it free. It's just the best possible combination of services supporting the best relocation services possible.
In a nutshell, it changes the relationship so that buyers become clients instead of customers, and the broker becomes a consultant rather than a salesperson. Yet it costs not a penny more than traditional services!
If we had a title for this short site, it would have to be the "In A Nutshell"
page. We want to give you a simple overview and lots of references....to our web site and others. It has the bare essentials....with references to in-depth info on any subject if you want it.
Answer to Quiz: It's 8,9 and 10, and often #3. An agent or agency could not represent the seller of a property, promising loyalty and advocacy to the seller, and still perform these client-level services for the buyer.
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800-231-5588; 618-632-8443
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