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| Oakland and Genesee County Michigan Real Estate |
Oakland and Genesee County Michigan Real Estate .... Homes For Sale....Search Property Listings |
Oakland and Genesee County Michigan Real Estate Homes for Sale
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Oakland County Michigan Real Estate Homes for Sale,Clarkston MI Homes For Sale,Fenton Lakefront Homes,Genesee County Homes for Sale,Clarkston Real Estate, Oxford MI Lakefront Homes,Property Search Buyers Agent, Lake Orion, Short Sales, Waterford MI, Foreclosures , Waterfront Homes For Sale, Village of Clarkston MI, First Time HomeBuyers, Holly MI, Luxury Homes,Grand Blanc MI Golf Course
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Oakland County Michigan Real Estate Homes for Sale Buyers Agent
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Buyer Agency.....Michigan Real Estate Home Buyers
Many Home Buyers, in their search for a new home, overlook some very important information.........the discussion on agency. They like many home buyers before them, believe that the Agent with whom they are working--sometimes on a daily basis--represents them and their interests. Without certain disclosures, this definitely is not the case.
The Agent, unless specifically disclosed otherwise, represents the Seller in any transaction for the sale of a home. It is that Agent's fiduciary duty (where their loyalty lies) to protect the Seller's position at all times.
Buyer's Agency, however, is an option available to you. Simply put, it allows the Agent with whom you are working to be your representative and to put your interests above all others.
Example 1: You see a house advertised in the newspaper, a home magazine, or the Internet. You contact the Listing Agent (this is who will be advertising the home) and make an appointment to see the house. The Agent is friendly, informative, and tells you what you believe to be everything about the house. The Agent represents the seller, not you.
Example 2: You are working with an Agent, who shows you 25 different homes over 3 weekends. The Agent buys you lunch twice, knows all 4 of your children by name as well as all of your personal likes and dislikes, but does not offer Buyer Agency. You feel comfortable with the Agent, revealing important personal information. Without Buyer Agency, "your" Agent represents, and owes loyalty to, each and every one of those 25 sellers--not you. Any information you reveal to the Agent must be relayed to the sellers.
"Okay," many buyers say, "so the Agent represents the Seller and not me. Is that a big deal?" Maybe not, but it is important to understand that if the Agent represents the seller, they cannot reveal certain things to you, as the Buyer:
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The reason for selling (unless the seller specifically authorizes it)
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Any concessions, in price or otherwise, that the seller may be willing to give up.
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Any conversations that the seller and the Agent may have had.
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Any information that could be detrimental to the seller, or give you, the buyer, an advantage. This would include a (Comparable Market Analysis) that could put the seller at a disadvantage.
Buyer Agency changes the game. If a Buyer's Agency agreement is struck between you and the Agent, it is you, rather than the seller, who has the representation from the Agent with whom you are working. If you are represented by a Buyer's Agent, some of the potential benefits include:
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The Agent can develop a (Comparable Market Analysis), revealing at what price similar properties in the area have been listed for and sold for.
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The Agent can reveal to you any information about the seller that the Agent has been able to ascertain. This may include reasons for selling, potential concessions, or other information that may be to your advantage.
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Information about property value trends that may influence your decision about a certain area can be relayed to you.
In Conclusion….. Is it necessary to have a Buyer's Agent to complete a Real Estate transaction? No. Thousands of home buyer's have been well served dealing with the seller's Agent. (For years, it was the only way it was done). The important thing is to understand your options, so that you don't unintentionally accept less representation than you want and deserve.
Kari...........Realtor..........Buyers Agent
Kari@BuyMiHomes.com
248-459-9789
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Why you should choose me to be your buyer’s agent In today’s real estate market, choosing the right agent is more important than ever. With the rapid changes in available mortgage programs, the large influx of foreclosed homes, short sales, houses assessed for more than they’re selling for and a plethora of other factors, make choosing an experienced, knowledgeable, full time agent even more important than in the past. Once you’ve made the decision to purchase a home (or investment property) the first two things you need to do is contact a loan officer and contact a full time, experienced real estate agent. It’s a good idea to interview two or three professionals just like a seller would, then select one to work with exclusively. When you work with multiple agents, none of them will work as hard for you as they would if they know they have your loyalty. Multiple agents will send you the same listings (or they should if they’re using the same search criteria) so there’s really no advantage to working with more than one agent. How much work (and time) can you expect a person to invest in your search when there’s a good chance another agent will show the property to you? There’s more to finding a house for a client than plugging the search criteria in the MLS and emailing it to the buyer/client. The first time I show you houses I get a good idea of what you really like and dislike. If you want automatic MLS updates, I will be happy to do that for you, but I will also go through the updates myself and cull out unsuitable listings and only send you houses that suit your needs. After I get a good idea of what you do and don’t like in a house I use my knowledge of the area and my experience to help you find the home that best suites your needs as well as considering the investment aspect of the purchase. I look out for your best interest, educate you about the process, and will work harder for you than any other agent will. By having two agents on our team, you won’t be working with an agent who is always trying to “fit you in.” Upon our first conversation I will question you thoroughly so I can start your first search. There’s a good chance that search will change after I’ve shown you a few houses, but I need to get as much information from you as possible to make that search a thorough one. I would hate for you to buy a house and find out later that there was something you might like better that I never told you about. I will discuss agency with you which has been required in this area since 1994 The first time either of us shows you houses we will show you a variety of homes in a variety of areas (such as different subdivisions or different lakes if you’re a lakefront buyer) but that still meet your basic criteria After the first trip out to look at houses I will go back the the computer and alter your search criteria. I then look at EVERY listing that comes up, the additional photos the listing agent supplies, if the house is in Oakland County I look at aerial views, then pick out the houses I feel will best fit your needs Once you’ve found the house you want I will pull comps (comparable sales) and together we will put together an offer. Then the negotiations start. Once we’ve come to terms with the seller we schedule the home inspection (I can recommend a very good home inspector if you don’t already have one). After the home inspection I will order the title work and get the pertinent information to your loan officer who will order an appraisal and convert your “pre-approval” into a mortgage commitment, then we proceed to closing (this typically takes approximately a month from the time our offer is accepted to close)
Below are just a few things that set the Kari Tail Butz and the Jackie Hawley team apart from other agents as well as some myths or common misconceptions about purchasing real estate, and the facts. Please don’t hesitate to call or email if you have any questions. My direct cell number is 248-459-9789 and my email address is Kari@SoldByKari.com Jackie and Kari are both experienced, full time Realtors who are knowledgeable about our market area We don’t charge a “buyer agency fee” or “broker compliance fee” or a “transaction fee” or any other junk fee typically charged by other agents (typical junk fee starts at $295) We have a full time assistant who helps with the phones, paperwork, computer work, etc which frees Kari and Jackie up to devote more time to you With out of the area buyers or transferees we will preview houses for you and take photos and/or video to send to you before you make that trip to Michigan. This will help you weed out some of the homes you wouldn’t be interested in We advise you on the investment portion of your purchase. We point out potential repairs (neither of us are builders, but we’ve both seen literally thousands of homes and will probably see problems the typical buyers might overlook), we discuss re-saleability, WE WILL GIVE YOU OUR OPINION – it’s not our goal to just hustle you into the first house you express interest in When we look at houses, we give you the full listing of each house along with the listing history, the public records sheet (which may show what the seller paid and how much the mortgage is) and if the house is in Oakland County we attach an aerial with the property lines outlined in red Most importantly we listen to your wants and needs and we look out for YOUR interests 100%
Myth: The new taxes will be based on half the new sales price. Fact: There are 2 assessments on your tax bill: your taxable value and the state equalized value (SEV). Upon transfer of ownership the SEV becomes the new taxable. That may be higher than half the sales price. Myth: Sellers are coming down 20%, 30%, 40% and more. Fact: In the Orion, Oxford, Clarkston area, sellers are coming down about 5 or 6% on average. It’s your agent’s job to help you determine what is a fair price to pay. Some sellers are coming down more than the average stated above, but some houses are selling for more than asking price. Myth: Short sale means it will close fast. Fact: Short sale is when the seller owes more on the house than he will be able to sell it for so he is asking the bank to take a reduction on the payoff requiring a 3rd party approval of the purchase agreement. Sometimes this can be accomplished in a matter of days but often times it can take anywhere from 30-90 days to hear an answer on your offer (and during that time they can still accept other offers). Myth: Foreclosures are the best deals. Fact: Sometimes they are better deals. Some are beat up and some are pristine. But the foreclosures have had a big influence on setting prices that have forced regular home sellers to lower their prices in order to compete with the foreclosures. Direct Mobile........248-459-9789 Understanding Agency and Agency Relationships By Jackie Hawley When we form an agency relationship with a client we owe certain fiduciary duties to that client: Loyalty, Obedience, Disclosure, Confidentiality, Reasonable care and diligence, and Accounting. And since 1994 we owe these duties to our buyer clients as well as our seller clients. In MI we now have Seller’s agents (aka the listing agent), Buyer’s agents, Disclosed dual agents, Designated agents, and Non-agents (transaction broker or facilitator). The first two are pretty self explanatory. Buyer’s agents have a fiduciary duty to their buyers; seller’s agents have that same duty to their sellers. Designated agency is a little newer. When we first started practicing buyer representation, the problem of dual agency reared its ugly head. Clients belong to the broker (company), not the individual agents. So if I had a listing and someone in the office had a buyer client for that listing, we were both forced into dual agency – even though I probably never met his buyer and he probably never met my seller. Because the broker represented both clients. Then along came designated agency. Now if another agent in my office brings an offer from a buyer client, I still represent my seller and he still represents his buyer. The broker becomes a dual agent while the actual agents involved in the nuts and bolts of the transaction can still fully represent their respective clients. Designated agency is the best thing since sliced bread. It has greatly reduced the instances of dual agency, but has not totally eliminated it. Disclosed dual agency is still common when the individual agent or team represents both the buyer and seller. Is this necessarily a bad thing? It is true that our fiduciary duties to both the buyer and seller are limited. In the hands of an inexperienced agent or an agent who isn’t detail oriented, there could be problems. But in the hands of a highly skilled, experienced, ethical agent, dual agency has worked just fine for the past fourteen years in MI. Because of the different skill levels of real estate licensees, just having someone “represent” the consumer does not automatically mean the best result for the consumer. A skilled agent who understands what is important to each side can usually craft a contract that fulfills the most important needs of each party. Sometimes opposing agents are too quick to fight rather than find a win-win position. You will find that level of skill, experience and ethics with the Jackie Hawley Team. So please consider us for all your real estate needs. And when you have the time, please check out our web sites. I am constantly adding and tweaking them. I think you will find them to be the most comprehensive real estate sites in the area. I have also started adding non-real estate areas for those who are between home purchases. So please, take a look and let us know what you think. |
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Oakland, Lapeer and Genesee County Homes For Sale
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