Your Life is Unique

What you need in a home and a home buying process is unique. Buying a home is one of life's major financial and personal decisions. We have resources here to help you explore some of the elements of this big decision.

The Key to a Successful Experience

But really, your relationship with your Realtor is the key to a successful experience. You need someone who knows about houses, neighborhoods, and the market will get to know you, listen, and help you clarify what you want will negotiate the best deal for you and most importantly, will put your needs first.

We will do all this for you - and more.

 

 

Buyer Beware

In a real estate transaction, the Seller Agent represents the Seller's interests. You need a Buyer Agent to represent your interests.

 

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Understanding Buyer Representation

We will provide you with a Buyer Agency Agreement that will explain in detail the role of your Buyer Agent. A Buyer Agency Agreement will be signed by the purchaser and the Broker in order for the Agent to represent the purchaser on the buyer-side of a transaction. A Buyer Agent represents only the Buyer and promotes and protects their best interests throughout the transaction, keeping all information confidential. Once an agreement is signed, the Buyer Agent owes a fiduciary duty to represent the best interests of the Buyer throughout the purchase process; including obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care. In rare circumstances, Dual Agency occurs, meaning your Buyer Agent may have a pre-existing relationship with a Seller. That being said, both the Buyer and Seller must consent and provide written authority for the Agent to engage in Dual Agency. This process will be explained to you further in your initial Buyer Consultation.

About Brokerage Compensation

Similar to a Listing Agreement, Buyers execute an Agency Agreement for professional services and representation between themselves and Gibson Sotheby's International Realty. This confirms the compensation for the Buyer's Agent and Brokerage. It should be noted that the amount a brokerage charges is not fixed by law, the commission amount is negotiable, and brokerages may set minimum compensation.

How Are Commissions Paid?

Seller Paid Brokerage Commission

When listing a property for sale, Sellers enter into a Listing Agreement and agree to pay a commission to the Listing Broker. In some cases, the Seller may also offer a commission to be paid to the Broker representing the Buyer. In circumstances where the Seller does not agree to compensate a Buyer's Agent, Buyers may request in the written offer that Sellers pay some or all of the Buyer Broker's commission. This allows the commission to be incorporated into the final sale price. The Seller can write off the commission and the Buyer does not need to pay the commission with additional funds at closing. Instead, the commission will be paid from the Seller's proceeds.

Buyer Paid Brokerage Commission

Buyer's Agents can search for properties not listed in the MLS, including For Sale By Owner, Off-Market Listings, and Office Exclusives. The Buyer Agency Agreement specifies the commission for Buyer representation and allows Agents to represent Buyers even when no cooperative compensation commission is offered. If the offer of compensation offered is less than the agreed upon amount in the Buyer Agency agreement, the Buyer will cover the difference at settlement. However, the Buyer can avoid this by making it a condition that the Seller pay the commission if they accept the offer.