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Buying a Home, What’s the Difference Between a Buyers Agent and a Listing Agent
Buying a Home: What’s the difference between a Listing Agent and a Buyers Agent and why should I care?
By law, a Designated Seller’s Agent MUST “promote the interests of the seller with the utmost good faith, loyalty and fidelity” and MUST “protect the seller’s confidences…” A smart seller will hire a good seller’s agent to work for them in this fashion – As they should.
Listing Agent, represents the sellers
Buyers agent, (Selling Agent) represents the buyers
Why should I use a buyer’s agent, (Broker)?
The seller’s agent is only looking out for the seller. Understanding this, it is important to realize that what you say and act to a seller’s agent may compromise your ability to negotiate the best deal for you. If, for example, during an open house, you casually mention to the seller’s agent that your family must be relocated by the end of the month to accommodate the start of a new job, the seller’s agent, by law, must “promote the interests of the seller” by letting the seller know about your situation. As a result, the seller is now aware that you are somewhat desperate and must move quickly, thus compromising your ability to negotiate the best deal.
How does this affect your bottom line?
Remember, the seller’s agent is “promoting the interests of the seller… and protecting the seller’s confidences…” Usually, the interests of the seller consist mainly in getting the best price for their home within a given time period. Even if the seller’s agent knows the seller has enough equity and is willing to accept $10,000 less than the asking price and, in fact, the home may not be worth what the seller is asking, the seller’s agent cannot, by law, disclose that information to you. Without a real estate professional working hard on your behalf by providing you with experienced and accurate market information, you may end up paying more than necessary to purchase that particular home.
What’s Next?
Working with Tom Fine, a Windermere Real Estate Broker, has in-depth experience in home construction, remodeling and design, with this Tom’s knowledge helps buyers by explaining the good and bad aspects of homes. Tom looks at the construction materials, installation and finishes of these materials and he’ll explain why a home you are looking at is what you see a well built home or a band aid to mask hidden problems. Working with Tom as a buyers agent doesn’t cost you money, the buyers agent fee is paid typically from the sellers side of the transaction. So why not work with someone like Tom, with knowledge and experience to save you, time, money and energy. Contact Tom Fine, today to help Buy or Sell your home,
Tom Fine, Broker, CNE & SRES
Fine Homes NW, Inc.
Windermere Real Estate, Mercer Island
Direct: 206-434-6561
Email: TomFine@windermere.com
Options to Keep our Parents in their Homes as Long as Possible
Many seniors prefer to stay in their homes as long as possible. Of course, your ability to do this hinges on many factors, including the nature of the challenges you face in your current home. Major home renovations may be required, but there are also numerous inexpensive steps you can take to improve your living situation, including:
SAFETY IMPROVEMENTS
Flooring: carpeting is preferable to area rugs because it reduces tripping hazards and can cushion falls. But if area rugs are used, make sure they’re secured to the floor.
Handrails: on stairways, add a second handrail along the opposite wall for improved stability.
Footwear: to prevent falls, non-slip shoes are preferable to slippers or socks.
Non-skid safety strips: adhered to the floor of a tub/ shower, non-skid strips are preferable to removable in-shower bath mats.
Bathroom grab bars: ideally these should be anchored into the wall, but if that’s not possible opt for a safety rail clamped onto the side of the tub.
Quality step ladder: purchase a broad-based heavy-duty step ladder with a hand-hold bar across the top to safely reach items stored out of reach.
Lighting: whether it’s making a bathtub brighter or installing motion-activated night lights in the hallway, better lighting can help prevent falls and make hobbies, reading, etc. more enjoyable. Lighting improvements might be as simple as changing the bulbs (to higher wattages or to bulbs that mimic daylight instead of “yellow” soft lighting) or adding battery-operated units.
CONVENIENCE FACTORS
Hand shower: convert a standard fixed shower head into a hand-held system with a flexible hose.
Raised toilet seats: no need to buy a new toilet when a removable seat can be added to most standard toilets.
Mail catcher: mail delivered via a slot in the door may be easier to retrieve than from a mail box, especially if a narrow basket is mounted below the door opening so the recipient doesn’t have to pick mail off the floor.
Knobs: replace round door and/or faucet knobs with lever styles, which are easier to turn. Likewise, loop pulls can make drawers easier to open.
Eating: specially-designed cups and eating utensils can minimize food spills, including weighted options that help counterbalance shake-prone hands.
Cooking utensils: lightweight and ergonomically-designed options are readily available now, many offering non-slip handles and bright, attractive colors.
Keep things handy: move often-used items to easy-to- access locations.
Eliminate excess “stuff”: having fewer items to store, sort, juggle and handle can make aging in place an easier and more enjoyable proposition.
Houses are Moving and We Just Closed on Another Great One and On-Time!
In this challenging market, finding a house is hard enough and then meeting all the criteria is another challenge and finally the sellers looking to close as soon as possible.
Another challenge was my client wanted to use a good friend of his that worked for one of the larger banks in the country, of course keeping those friendships tight, is big business and we all understand helping friends and families. The issues that came up was my client wanted to use his friend at the big bank ad we had multiple discussions on this and that it was critical to meet the requirements of the contract and close in 30 days or less.
The Big bank wanted 2-3 weeks to do the appraisal and could close in most likely 45 days. The kicker to switch my client over was when he heard me say he would loose the earnest money if we didn't close in 30 days or less, could his friend guarantee 30 days, No, he couldn't guarantee 45 days.
Thanks to Jackie Murphy and the group at Cobalt Mortgage, they put all the paperwork together in less than 30 days.
It's all about having a great team behind me that makes me shine. I am so happy to have them work with me to help families find a great home.
Let me and my team helps you buy a home or sell your current property.
Tom Fine, Broker
206-434-6516
