Seattle Residential: I Do That: Planning to Buy a Home in Seattle

Planning to Buy a Home in Seattle

Planning to Buy a Home in Seattle?

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When the Buyer and the Broker first meet.

 

Are you planning to buy a home in Seattle. When you are ready to work with a broker, what will that meeting be like? I can't answer that question for anyone but myself, but if you call me, here's how it will go.

Lake and Company Welcomes You

When we first meet before you buy a home we will need to have a discussion about how we will best work together. I like to look at this as a job interview, a time when we can decide how I can best help you to accomplish your real estate goals.

The concept that a buyer can call real estate office, talk to a broker and the two meet at a specific home rarely results in in the accomplishment of either person's goals. If you are serious about finding a property to purchase you should interview brokers until you find one who has the time and the knowledge to help you locate the right place. If you are not serious about purchasing a property, then you should confine your interest to open houses and online searches.

A broker who has been in the real estate business for any length of time knows that on demand showings are nonproductive for both parties. In order to make the use of your time and mine more productively, I suggest, even insist, on an in-office meeting to conduct mutual interviews in which I will have an opportunity to assess your needs, wants and abilities, while you assess my knowledge of the market, interest in your quest, and competence to carry you through to a successful closing.

The State of Washington defines a Buyer's Broker as "a broker who has entered into a relationship with only the buyer in a real estate transaction." The agency relationship is the relationship created by written agreement between the broker and the buyer relating to real estate brokerage services by the broker. Nowhere in the agreement does it say that the broker is a salesman and the buyer is a customer.

As your broker I feel that it is my duty to consider all aspects of our real estate adventure in a light that is most beneficial to you above and beyond the wants or needs of any seller, broker, company, my company, or myself. I'm not a salesman. I'll apply no pressure on you to buy. The speed with which we find a property that suits your needs is entirely up to you.

The meeting we will have before viewing properties will consist of the following elements:

  1. A discussion of the buying process and approximate timeline.
  2. A determination of the features you desire in a property, your price range, and your desired neighborhoods.
  3. Mandated state and federal disclosures will be provided to you.
  4. A brief discussion of the home inspection process; which we will go over in detail when we find a suitable property.
  5. A brief discussion of the offer format and presentation alternatives.
  6. A discussion of the importance of financial pre-approval by a quality local lender. I will provide you with a list of lenders if needed.
  7. A discussion of our use of the Internet and the most viable means of communication between us.
  8. A discussion of the exclusive agency agreement.

The exclusive agency agreement is the employment contract.
*It states that I agree to work for you and on your behalf. It states that I will get paid for successfully doing so. Some For Sale By Owners and some sellers who use full service or discount brokers offer less than what I consider a full commission, but I will still seek out, preview, and show you such properties when appropriate.
*You will commit to working with me. If you see or hear of a property you will let me know about it and I will investigate it further to see if it meets your criteria.
*We will agree on my compensation.
*While we are in contract together I will not work with another buyer with the same criteria.
*Should we discover in a day, a week or a month that this employment contract is not working, either one of us may terminate it.

Let's meet. I look forward to talking with you and finding out if you can use my skills as your buyer's broker.

 

 

 

 

Glenn Roberts
Retired

 

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Comment balloon 6 commentsGlenn Roberts • July 26 2010 11:50PM

Comments

Glenn, you are the consummate professional..............all bases are covered with your client and everything explained very clearly.................great post.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 10 years ago

Glenn, I remember on the spot home showings, here in Pa we have to give 24 hour notice to the homeowners and can't show the house without getting an okay from the listing agent that the time and day are okay with the homeowner....very differentr

Posted by Gerry Michaels, GettysburgGerry Social Meida (Glasswork Media Arts) over 10 years ago

Roger - I add a base or two from year to year. Hoping for some good suggestions here that I haven't mentioned.

Gerry - We only give renters the 24 hours. Most sellers, if they really want to sell, welcome short notice. And the listing agent never has to be a part of it.

Posted by Glenn Roberts (Retired) over 10 years ago

Glenn-great post, I've suggested it!  I was taught a long time ago never to provide "on demand" showings.  You're correct, they never result in anything productive.  If the buyer isn't interested enough to come to my office and visit with me first, they're probably not sincere about being ready to buy a home.

Posted by Erika Rogers, St George Utah Real Estate & Relocation Specialist (Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage) over 10 years ago

Thanks, Erika - More people than ever are using listing agents for access and want no part of being anyone's client. They think it costs them money. Guess they need to make a mistake first.

Posted by Glenn Roberts (Retired) over 10 years ago

This would be the place to get them Glenn.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 10 years ago

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