If you are ready to purchase a home, the first thing you should do is contract what is called a Buyer's Agent. A Buyer's Agent has countless benefits to you, the Buyer, and it doesn't cost you a penny! The absolute worst thing you could do as a Buyer, if you found a home you were interested in, would be to contact the Realtor who listed the property or the Builder / Builder's Realtor Agent (if it is new construction) and negotiate without having contracted a Buyer's Agent. Read below and you'll understand why it is so important.
What role does the "Listing" Agent have?
The Listing Agent (the Agent who placed the house for sale / has their name on the sign in the yard / represents the builder for new construction) has a fiduciary duty to the Seller and is contractually bound by Georgia Law to represent 100% of the Seller's interest in the transaction to sell their home. The Listing Agent is responsible to secure the highest possible price they can for the home they listed on behalf of the Seller.
IMPORTANT: In Georgia ALL Realtors / Agents by law (unless specifically disclosed via a Buyer's Agent agreement between the Buyer and the Buyer's Agent) MUST represent the Seller's interest (NOT the Buyer's interest) in the transaction to sell a house, condo, loft, townhouse, real estate, etc.
What is a Buyer's Agent?
The Buyer's Agent is also known as a Buyer's Representative and has a fiduciary responsibility solely to the Buyer. A Buyer and Buyer's Agent sign a Buyer's Representative Agreement formalizing the relationship between the Buyer and the Agent to now represent that Buyer (and it DOES NOT cost the Buyer anything for the professional services of a Buyer's Agent ** read below why**!). The Buyer's Agent is an advocate negotiating exclusively on behalf of the Buyer NOT the Seller. The Buyer's Agent is responsible to work with the Buyer to try and obtain the most value and most favorable terms possible for the Buyer. As you can see, the Buyer's Agent role is the complete opposite of what the role is for the Listing Agent.
NOTE: The term of the Buyer's Agreement is VERY flexible and can be as long or short as the Buyer requires and can be terminated at anytime by the Buyer if their needs change.
What is the process for a Buyer's Agent?
The Buyer's Agent with the Diane E. Kelly Team will conduct a full "needs assessment". We will ask you a series of critical questions to understand exactly what you are looking for. We will assist you (if needed) to find a lender and assist you to get pre-qualified so you know exactly what your loan limits are, etc. Our Buyer's Agent will then put together a detailed plan to find you the perfect house that will meet your needs and do our best to exceed your expectations. We will share insight about what is occurring in the marketplace, local real estate trends and so much more. At the time we find a home you love and are ready to make an offer, our Buyer's Agent will conduct research on all of the similar homes in the area that recently sold and help you arrive at the best price point to place an offer for the home and begin the negotiation process.
The benefits of using a Buyer's Agent:
Our Buyer's Agent has strict fiduciary responsibility to you...the Buyer NOT the Seller.
Our Buyer's Agent helps eliminate the stress that naturally comes with such a large transaction. No two transactions are the same, there are countless issues that can come up from the time you find a property to the closing. We represent YOU.
Our Buyer's Agent will save you an enormous amount of time researching, previewing homes, filtering homes that don't meet your criteria, obtaining neighborhood information, acquiring public or private school information, contractors and so much more.
Our Buyer's Agent protects you and your family's interest during the entire process. This will provide you the confidence and peace of mind you need to move forward from a position of strength.
COST...you (The Buyer) do not compensate the The Buyer's Agent. The Seller has already agreed to do so! This means, the cost for you (the Buyer) to partner with a Buyer's Agent from the Diane E. Kelly Team allowing you to take advantage of our professional services is zero / $0 / FREE.
How Does the Buyer's Agent Get Paid for their Services?
In Georgia, the Sellers pay all of the Buyer's Agent professional fees sell their home when they list their home with a Realtor or even when a home is listed with services such as "For Sale By Owner". This includes the professional fees of the Listing Agent AND the Buyer's Agent (representing you). Thus, the Buyer pays zero to use the Diane E. Kelly Team Buyer's Agent professional services and reaps all of the benefits of having complete representation.
What if the Buyer deals directly with the Listing Agent?
That would be the Seller and Seller's Agent dream scenario. The belief the Buyer will save money without a Buyer's Agent is simply not true. The Listing Agent will in fact secure the professional service fees as an Agent for BOTH the Seller and the Buyer (while maintaining fiduciary responsibility by Georgia law ONLY to the Seller to negotiate the highest price and best terms possible for the Seller). This places the Buyer at a severe disadvantage without critical market information such as what other similar homes have sold for in the area, etc. during these various negotiation processes (e.g. price of property, time of possession, personal items to be included with the sale, items highlighted requiring repair when the Buyer contracts a company to inspect the property, time of possession, etc). In the end, the Buyer ends up taking needless, tremendous risks paying more for the property than they would have if they had used a Buyer's Agent negotiating diligently on Buyer's behalf.
What about new construction...do I need a Buyer's Agent?
Absolutely! If you are considering building or buying a new home that is being constructed or was just constructed you SHOULD definitely partner with a Buyer's Agent from the Diane E. Kelly Team. There are many things that can be negotiated on new construction that most buyer's don't realize. The Realtors / Agents selling home sites / new construction that are located on-site REPRESENT THE SELLER "The Builder" NOT the Buyer. Builders recognize Buyer's Agents as a necessary part of the sales process for Buyer's seeking their own representation for all of the reasons noted above.
Must I use a Buyer's Agent?
No, you don't...but the real question is why wouldn't you? We provide this service FREE to you (the Buyer) and it provides you with a real estate professional from the Diane E. Kelly Team for all the benefits noted above. Our Buyer's Agent represents and negotiates 100% on your behalf to get you the most value for your money. Why would you NOT want to use our services as a Buyer's Agent for one of the largest and most important purchases / investments you will make in your lifetime?
How do I get started?
Call the Diane E. Kelly Team with Keller Williams of North Atlanta Realty at (678) 907-9155. Diane Kelly and her team of Buyer's Agents will get you started right away and find that dream home you are seeking for at a great value! If you are ready to find a home, call now before you start looking at homes. You'll be glad you did!
Diane Kelly -- Keller Williams Realty -
North Atlanta Direct: 678.907.9155 --
5780 Windward Parkway - Suite 100 - Alpharetta, GA 30005-2021
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