What is a Buyer's Agent? SharpBuyers.com Has The Answer
What is a Buyer's Agent? SharpBuyers.com Has The Answer
History: As a result of numerous lawsuits throughout the real estate profession, the Federal Trade Commission (FTC) stepped in to regulate the industry in the 1980's. Most of the lawsuits were the result of agent's lack of disclosure to their clients.
Here is what was taking place:
Lets say that you are a prospective buyer. You walk into your local real estate brokerage firm and talk to an agent. They help you get pre-approved, start showing you properties and gain your trust. They even take you out to lunch or for a cup of coffee. All of this is great, but while they were helping you they "conveniently" forgot to tell you that they were obligated to represent the seller, not you. They also failed to mention that they were only showing you their personal listings. As a result, when you put in an offer on a property and told the agent that you wanted to offer $250,000 but you were willing to pay full price at $269,000, guess what? That is exactly what they told the seller. This left buyers completely exposed. As a result consumers lost thousands of dollars.
With that being said it is very easy to see how this slippery slope led to a legal crisis. The FTC conducted a survey and found that two thirds of buyers in the late 1980's thought that they were represented when they purchased their homes, but in fact had no representation. Out of this scandal, Buyer Agency was born.
Buyer Agency: In today's real estate market, buyers can choose their own representation free of charge. A Buyer's agent is compensated at closing from the total commission paid by the seller. Buyer's agents have the following responsibilities to buyers: Obedience, Loyalty, Disclosure, Confidentiality, Accounting and Reasonable Care. In addition to free representation, SharpBuyers.com will give all of our buyers a cash rebate of up to 50% of the total commission. As a result, you get quality representation, full service and a cash rebate.
To Sum It All Up
Cost of Not Having a Buyer's agent - Thousands Of Dollars
Price For Representation - Free
Benefits of having a SharpBuyers.com Buyer's Agent - Priceless
SB
History: As a result of numerous lawsuits throughout the real estate profession, the Federal Trade Commission (FTC) stepped in to regulate the industry in the 1980's. Most of the lawsuits were the result of agent's lack of disclosure to their clients.
Here is what was taking place:
Lets say that you are a prospective buyer. You walk into your local real estate brokerage firm and talk to an agent. They help you get pre-approved, start showing you properties and gain your trust. They even take you out to lunch or for a cup of coffee. All of this is great, but while they were helping you they "conveniently" forgot to tell you that they were obligated to represent the seller, not you. They also failed to mention that they were only showing you their personal listings. As a result, when you put in an offer on a property and told the agent that you wanted to offer $250,000 but you were willing to pay full price at $269,000, guess what? That is exactly what they told the seller. This left buyers completely exposed. As a result consumers lost thousands of dollars.
With that being said it is very easy to see how this slippery slope led to a legal crisis. The FTC conducted a survey and found that two thirds of buyers in the late 1980's thought that they were represented when they purchased their homes, but in fact had no representation. Out of this scandal, Buyer Agency was born.
Buyer Agency: In today's real estate market, buyers can choose their own representation free of charge. A Buyer's agent is compensated at closing from the total commission paid by the seller. Buyer's agents have the following responsibilities to buyers: Obedience, Loyalty, Disclosure, Confidentiality, Accounting and Reasonable Care. In addition to free representation, SharpBuyers.com will give all of our buyers a cash rebate of up to 50% of the total commission. As a result, you get quality representation, full service and a cash rebate.
To Sum It All Up
Cost of Not Having a Buyer's agent - Thousands Of Dollars
Price For Representation - Free
Benefits of having a SharpBuyers.com Buyer's Agent - Priceless
SB
posted by Robert Nichols at
12:06 PM
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