Exclusive Buyer's Agency
Buyer's Agency Benefits
There are compelling reasons why you, as a buying client, should be represented under a “Buyer Agency Contract”. Unless you've bought real estate south of the border, "Buyer's Agency" may be a new concept to you. Buyer's Agencies are common in Europe and the US, and with the 2020 international travel restrictions, and extremely competitive Canadian market, it has become more common in Canada.
Under the 3A Group Buyer's Agency, you retain us, Linda Marks, Freddy Marks or Sabine Tull, to be your exclusive property search team & negotiator for your landholding purchase. We can take you to virtually into every market in the area you wish to purchase, and find your dream property. Once we locate it, we negotiate hard on your behalf to get it at the best price and terms for you. We 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 prepare an extensive valuation analysis to support your offer.
Many buyers 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.
Questions people often have about Buyer's Agency Explained:
Are you “regular" real estate agents?
Yes, with Remax Nyda, we are licensed Real Estate Agents in British Columbia, Canada.
What are the benefits of working with a Buyer's Agent versus a traditional seller's agent?
As an exclusive buyer’s agent, we will represent you and only you the Buyer. Our goal is meeting your requirements.
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 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/agent.
Do you handle commercial real estate?
Yes, Freddy and Linda Marks have been involved in the commercial real estate industry for the past 30 years. Freddy brings over 33 years of experience in the real estate industry in Canada and Europe.
Retaining a Buyer's Agency vs working with a Sellers Agent
While listing agents can undoubtedly 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 more significant commission. Most listing agents focus on a limited geographic area. They generally know the properties for sale in their area but not show and inform you about properties out their geographic working area. 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 just the pricepoint!
How do we, get paid as a Buyers Agent?
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 we get paid a straight percentage of the sales price?
No. Remember, as a Buyer's Agent, our legal and ethical responsibility is to you, NOT THE SELLER. At first glance, however; it may appear that if we get paid a percentage of the sales price, that will 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, We are going to make a lot more than that extra $400 if you're a happy client that refers other buyers to us.