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All real estate "agents" are not the same!!
The truth is, real estate licensees have vastly different levels of knowledge, skill,
experience, expertise and motivation. A buyer risks getting less than the best if
the call goes to the listing agent. See Buyer - Be Aware
"Listing agents" in Oregon are agents of the seller. Their legal and
ethical duty is to get the highest possible price and best possible terms for the
seller. Are you likely to find a listing agent who can be completely loyal and
faithful to a buyer?
In Oregon, the only agent (or licensee) who can and must be completely loyal
and faithful to a home/ranch buyer is a buyer's agent who has signed an agreement to
represent the buyer's interest above all others on every home shown. If you do
this first, then your buyer's agent can provide the information on available
properties...and look after your interests.
How does a buyer's agent get paid? The agent only is paid if he or she writes a contract and escrow closes, then the buyer's agent gets part of the commission, which varies with each property. The buyer has to sign a buyer broker agreement before the agent is even allowed to set foot into any property with a client.
And just what does a buyer's agent do besides helping you to find the property that is right for you? My clients really aren't looking to me for help in searching for a house - they can do that themselves. What they're looking for is knowledge: Is this a good investment for me? What am I not seeing here? Help me to negotiate the price, and set me up with a good lender. What is happening in this neighborhood?
After the contract has been negotiated and an escrow account has been opened, the agent has to make sure all the deadlines regarding home inspections and tests of various kinds are being completed. She needs to make sure your lender gives the timely information to the seller. She deals with the escrow agents, making sure all the required papers are prepared and in order. Often little problems crop up, maybe the seller is not a citizen, in which case the buyer would be liable for taxes the seller owes, unless the correct papers are filed. Maybe there is an encroachment and the agent will help to negotiate the problems. Sometimes a percolation test needs to be made, and the agent will see that the engineer and the county get their work done in a timely manner. The agent often acts as an investigator regarding the property, and deals with the utility companies, the neighbors, city or county officials, the title company and many others. If the property is a ranch, things will even get more involved regarding water rights, mineral rights, surveys, easements, use restrictions, condition of soil, involved wetlands, leases, government programs in which the ranch might be enrolled, presence of wild life, crops which will or will not convey, weeds and more!
If I am your buyer's agent, I will not accept any bonus offered to the selling agent, but it
will be credited to you as the buyer, against the purchase price.
So, who are you going to call? An agent you feel you can trust, who has special training, market knowledge & information, experience, up to date ways to research the market and motivation to help the home/ranch buyer find the best property at the best price. Contact me now,- by text 541-965-9601 - or email let your home search start here!
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