Winfield Realty has exemplary experience is negotiating sale price for its buyer clients. Our 30 years of appraisal, lending, property preservation experience plus non-performing loan management is exceeded by no one. We are HUD approved buyer agents. Contact us to negotiate the best deal for you.
Winfield Realty has two buyer agency programs you can select from:
- You find Property via our on line MLS search tool or any other web site and we will do the following:
- Show you the home
- approximate most probable selling price based on current comparable sale and listing data
- advise you of possible lender issues you may encounter with the property
- prepare and present the offer
- negotiate the offer
- coordinate all home inspections and appraisal
- follow up with your attorney to make sure they don’t miss any contingency dates
- follow with lender to make sure the loan is progressing
- follow up with City to make sure the seller has met all the city requirements to close
- follow up with everyone to make sure the sales closes on time.
- advise on what to do if any problems occur and how to resolve them
- Finally: we get paid at closing from the commission being offered by the seller.
- You ask us to find a property for you based on your specific requirements:
- We do all of the work above plus,
- Find your property
- since we contractually don’t bind you to only work with us you can work with other buyer agents also,
- However, we have to cover our time and our overhead costs.
- Our upfront administrative fee is $350 for any assignment where we do the above work but you acquire the property or a different property through some one else.
- If you acquire the property through Winfield Realty the $350 is rebated to you at closing. We don’t double dip on fees.
Before you get started you need to understand some basics about buyer agency.
First: Buyer agency is a misunderstand concept by both consumers and Realtors. In fact most Realtors are not in compliance with State License Law when they start to work with a buyer.
State License law requires the following disclosures before a consumer provides any confidential information: (see our section on required disclosures)
- No Agency Disclosure
- Buyer Agency
- Seller Agency
- Dual Agency
If you disclose any information to a Realtor before an agency disclosure form is provided, you could be giving information to some one that represents the seller and not the buyer. That information could be used in the negotiation process to the sellers advantage. This is most common when the buyer contacts the listing brokerage office for a property. That agency represents the seller.
Many buyers contact the listing agent and disclose confidential information to that agent before they get any disclosure statement. Professional agents will provide that disclosure up front. A buyer agent can work for the listing agency with the proper disclosure signed by all parties.
84% of all homes are sold by buyer agents per National Association of Realtor studies
Second: The fee for a buyer agent is typically paid by the commission the seller is paying. The listing price is grossed up to include a portion of the commission to be paid to a buyer agent. There is no risk to a buyer to sign a buyer agency agreement with a buyer agent.
Third: A buyer agency agreement can be for a single property or it can be be for multiple properties. You can decide how you want to work with the buyer agent. Single property buyer agency allows you to work with other Realtors also.
Fourth: The agreements must be in writing, contractual and disclosure. Failure to disclose is a License Law violation. Many Realtors won’t require a buyer to sign a buyer agency agreement, legally you don not have to sign a contractual buyer agency agreement, and the agent does not have to act in your best interest either. Prudent buyers will sign a buyer agency contract because they understand it’s no additional risk to them, but holds the buyer agent accountable for what they do.
