I got several calls every week from people who want my help, but make it clear they are already working with a real estate agent. There are two types of help they are looking for. One they want help finding a home or two they have questions their agent can’t answer or isn’t around to answer.
Yesterday, I received one of these calls. She was begging me to help her find a home but made it very clear she would have her agent write the offer so they can get the commission. Hmmmm, whats wrong with that picture?
Lets chalk this up to not understanding how real estate agents or better yet buyer agency works.
How Real Estate Agents who are Working as Buyer’s Agents Get Paid
Real Estate agents working as Buyers Agents, or really all real estate agents regardless of who they work for, get paid by commission.
We do not have an hourly salary or a weekly pay check.
I get paid as a Buyers Agent, when I secure an offer on a home that is accepted by the seller and we move on to close on that property. It can be months before I get paid when working with a buyer and can have as many as 40-60 hours into the transaction. I am not complaining, I love the business of real estate! It is just a fact on how buyer agents get paid.
So when you call me up and ask for my help, but tell me you already have an agent you are working with, you are asking me to:
Put in valuable time and energy and use my years of experience to help you so, someone else can get paid.
So Where is Your Real Estate Agent Anyways?
Your calling me for help to answer a question or about a specific property or to help you find a home…. it begs the question, where is your real estate agent anyways?
I have actually asked this. Some of the more typical responses have been:
My Real Estate Agent has a full time job, I can hardly ever reach them.
I have been a full time agent for many years. I make a full time living in real estate. I live breath and eat real estate. I have closed hundreds and hundreds of real estate transactions. So you will be able to find me easily. Secondly, experience counts. I know the ins and outs of the housing market at a given time, I know how to prepare a negotiating strategy and I just know how to help my buyers… period.
I spend thousand of dollars every year on tools to help you find a new home. You don’t need to be bouncing around everywhere in hopes of finding that home that doesn’t exist. Guess what, whether I am your Buyers Agent or you have another Buyers Agent we have exactly the same homes to expose you to. Whats the difference? The level of service and the experience to help you find the right home.
My Real Estate Agent hasn’t returned my calls in days. I can’t find them.
Really? Again I am full time in this business. You can reach me by cell, text or email. My cell phone is usually always answered especially if it is a client of mine. If not I will be getting back to you with in an hour or two. If I do happen to be away for an extended period, I have other people who are covering for me. If you are my client, you not being able to reach me will never be a reason why you missed that home.
My Real Estate Agent told me to go find a home and when I do call them and they will right the offer.
Again, I have to say, Really? If this is your Buyers Agent, you are being completed under served and what they are doing is unethical. A Buyers Agent is more than writing an offer. A Buyers Agent is a buying consultant and can help you in so many ways that will make the most of your home purchase.
So before you call me and tell me you are working with another agent, you better re-evaluate why you are calling me. I can tell you my clients do not call other agents looking for help, because they don’t need to.
I didn’t want to bother my real estate agent
Listen if your my buyer and I am your Buyers Agent, I stand to make thousands if not not many thousands of dollars off your home purchase. How many weeks does it take you to make $2000 or $4,000 or even $10,000. And yes you have to work for it and so should your Buyers Agent. if they aren’t willing to work for it, call me, I will give you a 110% if we decide to work together. If you are working with a buyers agent they have a fiduciary responsibility to you.
What Can a Good Buyers Agent do for me?
A good Buyers Agents role is that of a buying consultant. They really should never be selling you anything. Every home buyer has specific needs so the role of a Buyers Agent can vary from home buyer to home buyer. Here is generally what I do for most home buyers.
- Discuss and assess your individual needs and wants.
- Bring an objective view to the process. Buying a home can get emotional. A buyers agent’s job is to help you stay objective.
- Help arrange the professional you will need through the process (attorneys, home inspectors, mortgage
professionals, movers….) - Provide you with the knowledge and experience gained through the closing of 100’s of transactions.
- Educate you about current market conditions and trends and help you analyze the data.
- Prepare you to buy.
- Help you find the right home with a combination of experience and tools.
- Determine if your target home truly suits your needs. Again a good buyers agent will know when to reel you in or give you a little push.
- Analyze market value of the home and set a negotiating strategy.
- Help you prepare an offer that will not get rejected.
- Negotiate to your benefit in a timely manner.
- Help co-ordinate the closing between all the involved parties.
- Makes sure you are comfortably settled in your new home.
Like anything in this world, there are all types. There is good car mechanics and bad car mechanics, there is good doctors and bad doctors… conversely there are good agents and bad agents. Unfortunately you buy a home so infrequently you don’t even know what to look for in an agent. But, trust me there are great agents out there, who can help you make the most of your next purchase. Take the time to find a good buyers agent or if the one you have is not working out discuss with them what is wrong and if its not corrected find another!
_____________________________________________________________
This article, You want my help, but you already have a Buyers Agent? had been provided by Kevin Vitali of EXIT Group One Real Estate. I cover the Merrimack Valley and would love to help you with your next purchase or sale with my years of experience. Call me at 978-360-0422 to discuss your upcoming purchase and see if I can add value to your home search and purchase.
