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Gloria Losie

Buyer's Agent...So Many reasons

By: Gloria Losie
Friday, December 07, 2007 5:48 PM

A buyer called me today to ask me if I would be her Buyer's Agent... of course I will.  "Why again do I need a buyer's agent" she asked...

#1 -  A buyer's agent represents the buyer and not the seller.  You will have someone to work for you with your interests in mind. 

#2 -  Seller's agent represents the seller and they have the seller's best interests in mind.

#3 -  A Buyer's Agent will be a fierce negotiator for you. (at least I will).

Any other reasons? 

 

 

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Comments

John Rainville
Member Since '06

John Rainville said:

...to take a complex process and make it as easy and stress free for you as possible.

December 7, 2007 5:30 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Insulation and protection from avoidable pitfalls in the real estate transaction.

The buyer's broker's resources enable the buyer to perform more comprehensive investigations and make empowered, informed decisions.

December 7, 2007 7:33 PM
Gloria Losie
Member Since '06

Gloria Losie said:

Great!!!  I need more.

December 8, 2007 7:44 AM
Bill Thompson, REALTORĀ®
Member Since '07

Bill Thompson, REALTORĀ® said:

I had a buyer call me to meet them at a house they wanted to see. Before I ever used my SUPRA key on the lockbox they asked me this same question, "Why do I need a realtor?"

I smiled and said, perhaps you don't and turned to walk away. He said, "Wait aren't you going to open the door and show me around." I laughed and said, "Make up your mind, do you need me or not?" I then went on to explain many reasons why people choose to have a realtor represent them as a buyer.

December 8, 2007 12:37 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

http://www.realtor.org/libweb.nsf/pages/fg111

Here are some resources to help you, Gloria.

I love your stories, Bill! :)

December 8, 2007 7:40 PM
Lonn Dugan
Member Since '05

Lonn Dugan said:

When pitching a prospect on Buyer Agency, it helps to figure out what kind of approach will work best with a particular personality.  

Some people are very logical, while others are more emotional in their decision making.  The funny thing is, some of the most emotional ones come on logical, and some of the most logical ones can become EXTREMELY emotional at the last minute.  You have to KNOW YOUR CLIENT in order to say the right words.  And you have to give them a little of both approaches to see which one they respond to the most.  

Scripts below offer various approaches based on the personality and style of the buyer.  

Logical

This is a complicated process.  You do it once every 3 or 5 years, while do it 30 to 50 times every year.  My experience will be very helfpul.  And there is no charge for my service - because the seller pays the commission.  Under the circumstances, why would you go it alone?

High Safety and Security Needs:

Buying a house is a really big decision.  There are a lot of things that can go wrong - including getting the wrong house - or the wrong deal on the right house.  I can help you get the right house and the best terms. Would that be helpful?    

A buyer's agent knows the area they work intimately, and can help buyers avoid BIG mistakes.  There may be two similar houses a buyer would find to be comparable, in two different neighborhoods or areas of town, at similar prices. These seemingly similar homes might only be a few blocks apart.  But one could be much better for you and your family based on things that are not readily apparent on the MLS sheet - like crime rates, pending development in the area, new shopping centers or commercial districts coming soon, etc.    

Buyers who are vague about what they want - or are discouraged

A buyer's agent takes the time to get to know you and your unique needs.  Every time we see a house together, I learn more about what you want and don't want.  After a few times together, I can zero in on what you really want and help you find the perfect home!  

What you are doing right now, calling on houses without somebody to help you will have you running around town seeing a lot of homes, most of which won't feel right one you get there.  You spend a lot of gas and time looking at houses that are not right.  Some buyers even feel like giving up on their dream of moving after they see what is in their price range... But if we worked together, then chances are good that I can help you find exactly what you want.

Buyers with complicated or detailed thought processes who might want "a ranch, or a two story, or maybe a condo..."

Buyers often make lists of features and desires for their next house, but this list is made by your "head".  As a professional, I know that you will also be making this decision with your "heart".  After we see a few houses together, and talk about what you like and don't like in each one, I wil be able to hear the list that your "heart" is making.  You may be surprised to find out that almost nobody buys the house their head described at a first meeting with a Realtor.  Let's go see some of each, and then see how you really feel about each.  I am sure I can help you find a house that will please your head AND your heart!

There are so many houses for sale right now that it is easy to get overwhelmed.  Calling on houses you see, and meeting two or three new agents every week will expose you to even more information and conflicting ideas.  This state of confusion is not a good one for making big decisions.  A buyer's agent can help you get clear about what you want, and make the whole thing simple and easy for you.

Buyers who are fun, approaching the house hunt with a sense of adventure, open and down to earth

Working with a Realtor is a lot like dating.  You get more out of the relationship if you go steady!  Wanna go steady?

Buyers who say they don't need a Realtor

Buyers agents work for free, because the seller pays the commission, Buyers agents know the homes and neighborhoods, and they know the forms and documents.  Buying a house may seem like a fairly safe adventure, but there are lots of hidden rocks in the harbor that could knock a hole in your dreams.  Buyer agents know where the "rocks" are and can help you stay off of them!  Do you want to  

Buyers who are afraid or distrustful - have been taken advantage of

Did you ever buy a car?  Did you ever feel like the salesperson knew more than you did about the process - and maybe took advantage of you in the final terms or paperwork?  Did you wish you had somebody to go with you, be on your side, who knew as much about buying cars as the salesperson you were up against?  When it comes to buying houses, I am that person.  Sound good?   Let's go get you the right house, at the right price, with the best possible terms!  

Strong Personalities:

Look:  I know you want to buy a house, and you would just as soon not have to "buy a Realtor" first, but if you stay on that road then you  have the cart before the horse.  You could miss the best house or pay too much.  Why don't we do this your way, AND my way, at the same time?    

December 9, 2007 11:53 AM
Vicki Owens, ABR, CRS, GRI
Member Since '04

Vicki Owens, ABR, CRS, GRI said:

In this market with the prices just all over the place and appraisals down - the #1 reason why buyers should not even think of writing an offer without a buyers agent is OVERPAYING for a home.  Run those 60 day sold comps in your first meeting and let them know they can have peace of mind everything will be handled from contract to close.  Remind them of all of the hoops that we hurdle to get them successfully to the closing table with a list of steps.  Bank owned and relos - good luck to the unfortunate unrepresented buyers to ever get an answer to their offer if they even are provided the chance to do it the right way.  The public has no idea of all of the DETAILS or the rules in the variety of opportunities out there, and there sure is a long list after the buyer finds "the one". Cure the mis-information!  Opening the door is merely the beginning of the value you bring as their professional advocate.

December 10, 2007 7:23 AM
Gloria Losie
Member Since '06

Gloria Losie said:

Vicki:

You are so right.  I just went to a closing with my client and we asked the seller (with his agent beside him) where are you moving to.  He mentioned one of the new subdivisions.  The seller's agent said "Yes, he bought the house without me".  I know for a fact that guy without an agent paid $20K more than he should have.  He should have taken an agent with him to negotiate the deal.  The sad part is the seller is a really nice guy.  The builder is laughing all the way to the bank.

December 10, 2007 11:22 AM

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Gloria Losie
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Gloria Losie
Member Since '06

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