Why should you
have YOUR broker as a home buyer?
Because buying with the listing broker is like hiring your ex's lawyer
to settle your divorce.
Of course, there is MLS.CA .... But, did you know that the properties
are listed on MLS.CA only 3 days after they are listed on the realtors
intranet? Which explains why all these great properties
are sold when you call...
Shopping for a new
home is fun, and most first-time buyers enjoy their search for a new
home. Regardless of whether you plan to buy a newly built home or a
resale, a real estate broker can prove very worthwhile.
Before you start
looking, create your "wish list" of everything you want in your new
home.
Then, you have a choice: you can spend months visiting every home
listed in the newspaper classifieds, or you can let me do all the
legwork for you.
The vast majority
of home sellers work with brokers, and consequently, their homes are
listed in the Multiple Listing Service, an electronic showplace of
every home for sale in your area. I can identify homes that
meet your criteria and arrange convenient times with the sellers for
you to visit and inspect the properties.
In addition to
identifying specific homes, I can be a great source of information on
the community and comparable prices. But the most important service I
provide, once you find a home you want to buy, is presenting your offer
to the seller.
As you will soon
discover, home buyers find themselves involved with notaries,
appraisers, mortgage companies, land surveyors, home inspectors and
others. We can refer you to qualified individuals and companies to help
you through the entire process.
Most home buyers
do not realize that "listing brokers" (whose name is on the sign)
legally represent sellers, and consequently, thousands of
buyers pay more than they should for their homes because they lack
representation in the negotiation process. In fact, not only do they
lack representation, the person they think is on their side actually is
a spy for the other team.
Too often, buyers fail to understand this legal relationship. You can
avoid this problem by working with a "buyer's broker".
The seller already
has an broker and their agreement entitles the broker to a 6%
commission.
If as a buyer you fail to retain your own broker, the selling broker's
commission isn't cut to 3%, they just keep the entire 6% for
themselves! So don't think you will save money by not hiring an broker.
The commission is built into the price of the home whether you have an
broker or not. The same rule applies to the so-call "private sales"
where sellers try to pocket the equivalent of the commission... not to
discount the price to the buyer.
Working with a buyer's broker
actually will save you money, time and energy and may save you from
major (and costly) mistakes.
If you are serious
about buying a house, don't worry about wasting my time. Most buyers
inspect 20 to 30 homes before they buy, but can see only 3-4 in a day.
Michel
Lefranc: (514) 483-5800
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