We often get questions from potential buyers about why they even need a buyer's agent. We've created a list of FAQs that we hope clarifies the issue of how choosing an agent to represent you is actually essential to you.
Well, you're about to buy one of the most expensive assets that you are likely ever to own (especially since you're looking in San Francisco). It's possible to do it on your own, just like it's possible to represent yourself in a lawsuit, but neither is very wise unless you're in the industry. In both cases you'll need a professional to help you. Of course, if you have to hire an attorney, you'll have to pay out of pocket.
When you're looking to buy real estate, though, your agent's commission is paid for by the seller, so it's free for you. It just makes sense to have a professional who will (hopefully, if your agent is good!) look out for your interests exclusively before, during, and after the transaction.
And when you walk into that open house that you saw listed in the Chronicle and find that it's the house of your dreams, you definitely don't want to work with the agent you met there - he or she's representing the seller and that's bad news for you (more about this under "dual agency").
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Probably not. Once people realize that they should be working with an agent who they can trust and who will give them sound advice, the next step is finding the right agent. It's a personality thing. All agents are different, with different capabilities, business practices and track records.
You should also like them as well. You're going to be spending a lot of time with them under stressful conditions and if you don't like them, it can make things more nightmarish than they have to be.
And all agents, regardless of whether they're at the same company, are independent contractors and competitors. Although all of our job descriptions would read the same, not all agents will offer you the same diligence, professionalism, value and attention to detail. You need to find an agent who will offer you the services you need, with honesty, integrity and with your best interests always at heart.
You probably shouldn't yet. What you should do is get educated first and then choose to work with an agent that you trust and feel comfortable with.
We believe that it is really important to offer people something of value and give them a sense of who we are before suggesting that they work with us. Most often we get to know people first, and give them an insight into who we are and what services we offer, way before they decide whether to work with us or not. We have found that the best way to do this is to meet with people for what we call our "buyer strategy session" whether you're a complete newbie or a seasoned real estate veteran.
This is a personal, free (and stress free, too) session. No strings attached. As a soon-to-be buyer, you receive important information about the real estate market in San Francisco as well as an understanding of who we are and what we do for you. Providing education is one of our fundamental business goals, so we get satisfaction from knowing that one more buyer out there is entering into the market with their head on straight. Obviously we hope that you'll think we're the greatest and want to work with us, but you'll never feel pressured to do so.
In our buyer strategy session we cover, among other things, the following topics:
Send us an email to set up a time to meet. If you prefer, you can give us a call.
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Dual agency is when an agent represents both buyer and seller on the same property. It is legal, but often results in someone getting the short end of the stick. Things haven't changed in San Francisco for a long time — it's a seller's market so you, the buyer, are the one getting the short end.
Why? The seller's agent has a contractual obligation to the seller to get the highest price for the property, with the fewest possible concessions to the buyer. An agent representing you should make sure that you get the property for the best price possible and that your interests are fiercely represented throughout the entire transaction. This just isn't likely to happen when your agent is also representing the seller, especially when that agent is going to make double the commission if he or she manages to keep the deal together when the going gets rough - even if it's in your best interests to terminate the transaction.
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No, we're not just sales people. Many agents act like that, but they're forgetting that as agents, they owe "fiduciary duties" to the people they represent. This is really very serious. An agent owes his or her clients duties of care, loyalty and honesty, and is required to place the interests of a client above his or her own. This is absolutely the highest legal standard of duty that can be imposed between two people.
We both went to law school and learned this on approximately day 3. Your agent is going to be held to this standard whether or not they even know about it. You should definitely keep this in mind when you're choosing your agent and expect that they'll live up to this standard of care from the very beginning of your relationship.
For us, we'd take this seriously anyway just because of who we are as people, but it also makes sense from a business perspective — our clients know that we're 100% behind them and we're always there for them even after they get the keys. So of course they tell their friends about us and we keep attracting more and more happy clients (sort of like that old shampoo commercial from the Eighties. I told two friends, then they told two friends and so on and so on).
Give us a call or email us today to ask questions or to set up a time to meet.
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