I had a great question from a Pensacola home buyer recently, so I am sharing my answer as one of our blog posts. Here we go: “Since real estate agents work with both buyers and sellers, what’s the benefit of having a buyer’s representative?”
Pensacola Buyer’s Representatives
When a buyer contacts the Pensacola real estate agent whose name is on the sign in front of a home for sale they are contacting the Listing Agent. The Listing Agent is a real estate agent who the seller has contracted with, presumably to sell their Pensacola home as quickly as possible for the highest amount of money. So, it would stand to reason that there could be at least the perception of a conflict of interest if a buyer were to choose to work directly with a Listing Agent without the benefit of Buyer Representation.Pensacola Buyer’s Representatives
“So, does that mean I have to pay a Pensacola Buyer’s Representative?” asks my astute potential Pensacola home buyer.
No, as a buyer you should not have to pay your Pensacola real estate agent. The Listing Agent, representing the seller, has already agreed with the seller that they will offer part of their commission to the agent who brings a home buyer and an acceptable offer.
But a single agent, or a true Pensacola Buyer’s Representative, has some pretty big responsibilities including both a fiduciary responsibility and the responsibility of complete loyalty. In the truest sense of the word, this requires that the Buyer’s Representative not represent you on any listings that the Buyer’s Representative’s real estate brokerage has actively listed. Opps – that can cause conflicts if you want to see a Pensacola home that is listed by another agent at the brokerage!
Because our team is committed to buyers, we use what I think is the very best form of representation allowed by Florida law. Our team all work as Transaction Brokers, agents working for a successful transaction, while also employing the best practices of Buyer Representation as laid out by the Real Estate Buyer’s Agent Council (REBAC).
So, what can you, the Pensacola home buyer, expect from us when we are working with you on a Pensacola real estate transaction?
- We will work hard to understand just exactly what you are looking for – your exact wants and needs in a property – and we will work hard to identify Pensacola properties that match your criteria. Our market area includes Escambia and Santa Rosa, so whether your search is focused on Navarre, Gulf Breeze, Pace or other areas of our market, we have access to ALL the homes for sale.
- We will assist you in navigating the ever changing financial arena. What you can afford to purchase, which lender is the most appropriate lender given your situation, obtaining a pre-approval, etc.
- We will preview properties for you when appropriate and accompany you on showings when the time is right.
- We will serve as advisers when you are formulating an offer on a Pensacola home, and assist with your negotiating strategy. This includes preparing a detailed market analysis for you.
- We will provide you with a list of top quality vendors we have used, ranging from home inspectors to attorneys to title companies.
- We will assure smooth coordination between all parties to the transaction; seller’s real estate agent, inspectors, title company, lender, etc.
- Finally, we will keep track of ALL the details of the transaction, from start to finish and Afterwards!
Pensacola Buyer’s Representatives
Should a buyer want exclusive Buyer’s Representation, we have an Accredited Buyer’s Representative on our team; Ruthie Johnson. Ruthie was awarded this designation by the Real Estate Buyer’s Agent Council (REBAC), an affiliate of the National Association of Realtors for completing the coursework and exams required by REBAC and also for documented completion of transactions where she acted as an exclusive Buyer’s Representative.
Ruthie is a member in good standing of REBAC and the National Association of Realtors and keeps our entire team abreast of the current legal and legislative issues surrounding Buyer’s Representation.
