FOR BUYERS
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Learn the Market
Together with the Multiple Listing Service (MLS), which is a database of homes for sale in a particular geographic region, and the Private Listing Network (PLN), we will create a personalized list of properties for you to consider. The list will provide links to property photos and details which will enable you to gain an understanding of pricing and how it varies according to location and property condition.
In person viewings provide an opportunity to discover idiosyncrasies about a home and the surrounding neighborhood that cannot be detected through online photographs. The two best options for viewing properties are to attend public open houses or schedule a private tour with your broker.
When it’s time to tour properties in person a Buyer Broker Representation Agreement will need to be signed. As of August 2024, Buyers and Renters in every state are required to sign a representation agreement with their showing agent before touring a property for purchase or lease.
The new industry rules, established to promote transparency and prevent conflicts of interest, prohibit the disclosure of compensation offers between brokers on the MLS. Previously home sellers typically covered the commissions for both their own agent and the buyer’s agent. Under the new rules, buyers are now responsible for negotiating and paying their agent’s commissions directly. Sellers still have the option to offer compensation to buyer’s Broker, and their compensation may be disclosed to the buyer’s broker prior to the showing. If the seller does not offer compensation, the buyer will be responsible for their agent’s compensation that is specified in the agreement.
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Make an Offer
We will provide you with comparable listings and recent sales data along with details on current market conditions to help determine your offer price. Other variables to consider in the contract are:
• Contingencies – financing, sale of current home, home inspection, attorney review and approval
• Earnest Money (initial and final)
• Closing/Possession Date
• Real Estate Tax Proration
• Counteroffer
All the variables noted above are points of negotiation where we will guide you through the process to structure the strongest offer based on market conditions and what is most important to you. The key to an effective negotiation is to manage communication, analyze motivation and provide data taking a proactive approach to positively influence the outcome and avoid an adversarial situation.