What is “Exclusive Buyer Representation?”
In the recent past, potential home buyers worked with “agents” who would help them find their dream homes, not realizing that these agents were in fact working for the seller of the property, not the buyer. When home buyers began to realize this fact, they demanded to have agents who would represent them. An exclusive buyer representative is an agent who works strictly with potential home buyers.
So, are you telling me that the real estate agent that I found on the internet is actually working against me?
Not at all. An agent can help you find properties that might have the characteristics you are looking for in a home. But he is expected to follow local and federal codes and Real Estate License Laws, which require that a real estate agent meet the needs of the seller first and foremost, or risk losing his license. This is why buyers often don’t learn of problems with a home until after the closing papers have been signed.
If this is how the market is, why should I even bother using exclusive buyer representation? Why not go the market alone
Because finding a home is one of the biggest decisions a person can make, and today’s real estate market is aimed at bringing sellers a profit, not selling to the right buyer. At Elika Associates, we have extensive resources and expertise to help you choose the perfect home for your lifestyle and financial situation. We don‘t sell the homes, which means we can give you an objective appraisal of each buying opportunity.
Unlike other real estate agents, Elika Associates represents you, the buyer. We negotiate a fair price based on YOUR terms, not that of the seller.
How are we paid?
Elika Associates works on commission, just as other real estate professionals. Our fee is paid upon closing, and we are paid by the seller; you pay nothing extra for our services, since the fee is deducted directly from the proceeds of the sale.
If you work on commission, wouldn’t a more expensive home make you more money?
Of course. But you don’t want the most expensive home. You want the home that is best suited to you. We may make less on commission from your home purchase, but the positive feedback we get and the number of referrals that you offer more than makes up for any financial loss.
How do I secure the services of an Elika buyer’s representative?
By filling out a contact form. We will get in touch with you as soon as possible. After we have communicated, you will be presented with a buyer’s agency agreement, which will make Elika accountable only to you. This guarantees that you will receive full consideration in negotiations; you avoid overpaying for your home and your agent receives half of the regular commission from the final sales, instead of the entire commission going home with the seller’s agent.
Does Elika Associates only represent buyers of pre-owned or listed homes?
No. Our main goal is to get you into your dream home, and we realize that sometimes that may mean dealing with the original owner, or even a builder. Our vast real estate connections allow us to work with designers, builders and realtors alike.