Exclusive Buyer's Agency!
There are good reasons why you, as a buying client, should be represented under our “Buyer Agency Contract”. Most likely, unless you've bought real estate south of the border, "Buyer's Agency" is a new concept for you. Buyer's Agency is common in Europe and in the US but is relatively new in Canada.
Simply, under Buyer's Agency you retain us the 3A Makler Netzwerk to be your exclusive personal shopper & negotiator for real estate, who can take you to virtually every "store" in the area you wish to purchase in and find you just the right place — and when we find it, we negotiate hard on your behalf to get it at the best price and terms for you.
Many buyers are reluctant to use an Exclusive Buyer's Agency. They feel they can find, negotiate and buy a business for less by themselves. Generally speaking that's not true. The fair market value includes the commission and every seller will not sell for less than fair market value. However, given our understanding and knowledge of the real estate industry, along with our ability to negotiate on your behalf to obtain the lowest price, you will have the best chance of purchasing a property and investment to meet your needs at a price acceptable to you.
Below are some answers to typical questions people often have about Buyer's Agency:
Are you “regular" real estate agents?
Yes, we the Member of the 3A Makler with Sutton West Coast. are licensed Real Estate Agents and Brokers in British Columbia, Canada.
What are the benefits of working with a Buyer's Agent versus a traditional seller's agent?
The obvious, of course, as a buyer’s agent, we will represent, you, the Buyer, and not the Seller.
But there are a number of other advantages:
- While listing agents can certainly show you anything that is Multiple Listed by other agents, there is a financial incentive to them to show you their own listings first. If they sell you one of their own listings, they earn a bigger commission
- Most listing agents focus on a limited geographic area. They generally know the properties for sale in their area well but not properties across the entire province of BC.
- Listing agents are prohibited by their fiduciary responsibilities to the seller from telling you that they think their listing is overpriced, for example. We will provide you with area pricing data, historical sales data and our professional opinions about all aspects of a property and not only price!
- Our team will spend considerable time helping you shape an offer — reviewing comparisons, estimating likely appraisal value and projecting future marketability. When a seller's asking price is much higher than what we believe a property is worth, we often prepare an extensive valuation analysis to support your offer.
What happens when your team is the listing agent for a property I am interested in?
If you were interested in buying one of our own Team's (Member of the 3A Makler) listings, we would not represent you as a buyer in this buying process. This would be a conflict of interest. With your agreement in place, we would refer you to another real estate company.
What is a "Dual Agency"?
This is one of the most important things a buyer should be aware of. Dual Agency occurs when the same brokerage attempts to balance their loyalties by representing both a seller and a buyer at the same time. By law for Dual Agency to be allowed in BC, it must be agreed to in writing by all parties.
Dual agency occurring in a brokerage is bad enough, but sometimes a buyer can find themselves dealing with the actual agent who has listed the home in question. For example, a buyer could have called the name on the yard sign, in a newspaper or as listed in the MLS. In that event they are directly dealing with an agent who is being paid by the seller to get them the best possible deal.
How do we, The Member of the 3A Makler get paid?
Our Exclusive Buyer's Agency contract is in effect for one year and under the terms of the contract the commission is payable by the buyer. As well commission can be payable by the seller and/or the buyer depending on the circumstance. Naturally, any properties & businesses we have listed for sale, there will be no commission payable by you. Should we be able to negotiate a commission from a seller whose property is not listed, quite often this is the case, the commission due from you will be reduced by that negotiated amount.
Is there a conflict of interest if I'm paid a straight percentage of the sales price?
No. Remember, as a Buyer's Agent, our legal and ethical responsibility is with you, NOT THE SELLER. At first glance, however; it may appear that if I'm paid a percentage of the sales price, that would motivate us to get you to pay the highest price possible for the house. But first, consider the money involved: a 4% commission on $10,000 (the difference between, say a $170,000 sales price and a $180,000 sales price) is $400, which, in the big picture, is very little. In the long run, I'm going to make a lot more than that extra $400 if you're a happy client that refers other buyers to me. Please feel free to see our Reference list on this website.
Can I not work with lots of other agents as well?
No, we work with a limited number of clients at any given time. The Member of the 3A Makler makes a significant commitment to each of them to find the right investments for them. All we ask in return is, that they make a commitment to us. While acting as your agent we can provide you with details on what's currently for sale, along with what's sold and for what price. This information, along with all related details and facts we supply, allows you to make an informed decision when buying. One of the most frustrating situations in searching for a future investment is by the time you hear of one for sale, it can often be sold. We deal with many listed properties, however; we also sell many unlisted properties to buyers who are under Exclusive Buyer's Agency with us and others. However, we do not ask that you make a Buyer's Agency commitment until we've spent time together and agree that there is a "fit" between you and us, the 3A Makler Netzwerk. Our first, and sometimes second, meeting is "on us"! This way all parties involved can get a good idea of what you're looking for, you get a better feel for the market, and we both can determine whether there's a basis for an ongoing relationship.
Do you handle commercial real estate?
Yes, our team leader Freddy Marks has been involved in commercial real estate industry for the past 20 years. He brings over 30 years of experience in the real estate industry in Canada and Europe.
How do we start working together?
Just use the quick response button on this website. Please include a general budget range, your phone number, email and the best time we can reach you. Or if this is not quick enough, call us!