Denver Real Estate Blogspot
Blog by Judith Clausen
Denver, Colorado
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Posted at Denver Real Estate Blogspot by Judith Clausen
Jul. 28, 2006
Categorized in: Buying a home...
In answering a question on her blog, a colleague of mine, Ardell DellaLogia in Seattle, brought up the subject of the value of a Buyer's Agent. She talks about the assumption underlying the question which had to do with inspections. I'd like to go a bit further (Ardell promises to address other issues later on her blog).
What makes a Buyer's Agent valuable to a buyer? First, buyers can be sure they won’t be involved in a conflict of interest situation where the agent represents both the seller and the buyer. A Buyer’s Agent represents ONLY the buyer.
Second, a Buyer’s Agent puts all her energy, knowledge and skill into helping to find the right house at the right price for the buyer. Not that seller’s agents don’t do this with their buyer clients, but working on the selling side dilutes their expertise and skill on the buying side, and vice versa. An Exclusive Buyer’s Agent concentrates on knowing how to do the things that buyers need, and that’s their focus. They’re good at knowing the market because they see far more homes than do seller’s agents who also represent buyers. That’s what Buyer’s Agents do all day long – look at houses, estimate value, see potential problems, negotiate on behalf of buyers, shepherd the transaction through to completion with a laser-like focus on what’s best for the buyer.
They work with professionals who serve the needs of buyers – lenders, inspectors, insurance agents, home warranty representatives. Not that seller’s agents don’t do this too. It’s not just their focus.
Buyer’s Agents work daily negotiating with Seller’s Agents to get the best possible price, concessions, inspection issues resolved, and get the best timing for their buyers. That’s their focus, and working solely with buyers gives them an expertise serving buyers.
Here’s a story told by one of my clients, the mother of four four-year olds (yes, quadruplets!) whose husband had already moved here, she had stayed behind to sell the house which took five months, and she already had a job in Denver where she was to have started a month before she actually did -- that was the special situation.
Buying our house from out of state, our real estate selling agent back home knew exactly the type of service that we would be requiring from our buying agent in Denver so she hand chose Judith for us. I know this was a researched and unbiased choice, Judith was not even a member of the same agency. Living in another state, we were very attracted to technical services that Judith was willing to offer, including her promise to preview and photograph houses and having the photos online for me to view within hours, which she did. Could a seller’s agent have handled a complicated transaction like that? Doubtless. Would they have been successful in bringing the transaction to a successful close? Maybe. I believe that it was my expertise as an Exclusive Buyer’s Agent that provided the extra push that got the deal done.
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