Today I’d like to dispel one of the main misconceptions people have about buyer specialists (such as myself), namely, how we are paid.
Right out of the gate you need to know that you should never pay out of your own pocket to hire a buyers specialist for their services! YES, IT’S TRUE, we really will work for you at no up-front cost!
Let me share a few things that I often hear from potential clients.
“Why should I pay an agent when I am already searching online myself for free?”
First of all you don’t have to pay a buyers specialist, remember? Secondly, it’s important to know that finding a home takes more than just searching the internet for properties. There are a multitude of services a buyer specialist can provide and hiring the right one can be imperative in finding the best home for you.
Let me begin by posing a question:
Are you spending hours searching the internet for your dream home on websites like Trulia or Zillow and find you’re coming up empty-handed?
What most people don’t realize is that websites like those, while fun and informative, can be more of a hassle than helpful. This is not simply a broad generalization READ HERE. In many “hot” markets (like mine in Portland, OR) a home can and often will sell in a day. By the time your dream home hits those other websites… they’re usually already under contract.
These initial fruitless searches can in some cases discourage people from finding the perfect home. When it comes to serious buyers, many of these websites can lead to stress and leave them with the sinking feeling that, “there’s nothing out there for me”. A buyer specialist gets their listings directly and instantly from the MLS (Multiple Listing Service) where all brokerages place homes for sale. And that’s not all, they are market experts in finding you a home before anyone else even knew it was for sale. If a home matching our search criteria hits the market you see it instantly.
“Nothing is free in this world- what’s the catch?“
Well, you’re correct…and you’re incorrect. As a home buyer you will never pay a buyer specialist to help you purchase a home. We don’t, however, work for free – who does? How does a buyer specialist get paid? We are paid from the Seller’s side of the table. It’s very simple and I am happy to explain.
When a home is listed for sale the home seller’s listing agent works with the seller to pre-determined what both parties (the listing agent and the buyer specialist) commission split will be. Therefore, your main focus as a buyer (as well as your buyer specialist) will be on finding a great home that fits your wants and needs.
“So I SHOULD work with an agent?”
100% YES! Shopping without representation gives all the power of negotiation to the listing agent leaving you as a buyer with no one in your corner looking out for your best interest. That is where we come in. Buyers specialists understand the intricacies of contracts and have been professionally trained and educated in negotiating to protect you and your investment.
When you sign an exclusive buyers representation contract (hire a buyer specialist) you have the full weight and experience of a brokerage standing by your side as you negotiate your home purchase.
Simply put – Working with a buyer specialist saves you time, money and stress; making the experience what it should be…professional and beneficial.
“How do I determine if someone is a typical real estate agent or a buyer specialist?”
This is a great question and also a common one. The information provided here DOES NOT pertain to all real estate agents. A typical real estate agent deals in both buying and selling homes. This means there may (or may not) be fees associated with working with one.
In order to determine if the agent you are working with has a retainer or additional fee for their services, I want you to make sure you ask one simple question:
“Are there any fees that I personally pay directly to you in order for you to help find me a home?”
I guarantee there is a buyer specialist out there qualified and ready to work for you right now. We are 100% focused on finding you a home and our work ethic is second to none. So what’s stopping you?
Now go find yourself a buyer specialist today…The price is definitely right.