Getting the Best Deal on a House or New Construction First of all it starts with selecting the right "TYPE" of Real Estate Agent. thousands of dollars for buyer representation services which have been built into the price of the home and if you don't use those services then you forfeit them and the sellers agent and builders keep that money. It's easy to find a real estate agent in today's world; they're all over the place. Friend of a friend, cousins wife's sister, the phone book, or even calling the agent who has their sign in front yard of the home you want to see! The hardest part is finding that agent who will exclusively represent your needs as a Buyer - 100% of the time! Most listing contracts state in so many words that "the Listing Broker, and ALL agents of that broker, will do everything in their means to get the best price and terms for the seller". This means any agent of this broker (even if they are from different offices) can't represent you exclusively as a buyer. It would be like both sides using the same lawyer in a lawsuit, the only one guaranteed to win is the lawyer. Unless you specifically contract with an Exclusive Buyer Broker to represent your best interests, the agent (even if it's your neighbor or best friend) legally must remain loyal to their Broker's Sellers and cannot represent your best interest. And since you do have the option to have someone represent your interests BUY Your New House, Don't be Sold One! Receive Representation 100% of the Time on ANY Home You Want to Purchase or Build. Call me at 612-272-1520 for more information RON JENSRUD, Exclusive Buyers Agent
Yes, the right type - In Minnesota there are several types and MOST of them DON'T work for you.
Even though you don't pay anything directly to a Real Estate Agent or a Builders Rep, as a buyer, you do in fact pay
If a real estate agent or the agent's broker lists property for sale it's impossible for them to exclusively represent your needs as a buyer. Many agents claim to represent buyers, but when agents or their broker list homes for sale, they already have contracts with sellers.
Confused? Don't feel bad - most consumers have been for years. A 1983 Federal Trade Commission study found that over 74% of home sellers mistakenly believed that the buyer was being represented, and over 72% of the home buyers believed that they were being represented, however, the agent was legally a "sub-agent of the seller, bound by contract to secure the highest price for the seller!
As a result of this study, many state now require agents to specifically disclose whom they truly represent. However, this disclosure law is not being followed and because Most Brokers are Dual Agencies exclusive representation cannot occur in these offices.
Why Would You Accept Anything Less Than 100% Exclusive Buyer Representation?
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