Frequently asked questions
Are there additional costs to work with an Exclusive Buyer’s Agent?
There are NO additional costs to you. When a home is listed for sale with a listing real estate agent, the “seller” agrees the fee to be paid to the listing agent for selling the home. The listing agent shares this fee 50/50 with the agent representing the buyer.
What if I want to purchase a “For sale by owner” property?
More often than not an “unrepresented seller” will agree to pay the buyer’s agent fee; so before you contact the seller directly, allow us the opportunity to negotiate your representation with the seller. The sale and purchase of real estate is a complex contractual legal transaction, it is in the best interest of the parties to have a real estate professional involved in the transaction, this is especially true for the buyer. If the seller will not agree, you are not obligated to use our services.
What if I want to purchase a new construction property?
The same applies as in a previously owned home. There are NO additional costs to you. The seller/builder allows for agents fees. Typically the seller/builder’s agent will have a Sales Office on site. Like any sale of real estate the “seller/builder’s agent” is working in the interest of their client (the seller) not you the buyer. If you happen to visit a builder’s Sales Office without your agent, be sure to register your agent so that the builder’s agent is aware that you will be represented by your own agent.
If you’re paid on a commission, what is your incentive to save me money when negotiating on my behalf?
"Repeat Business". There would be no growth or success in our business if you wouldn’t recommend our services. As Exclusive Buyer's Agents are a fairly new concept in real estate today, we rely totally on word of mouth.
How does the Exclusive Buyer’s Agent find out about all the homes that might meet my needs?
Access to the M.L.S. The Northwest Multiple Listing Service (where most, if not all, agents list their homes for sale) provides for most of the data. We also stay on top of “for sale by owner” and “new construction” properties as well.
What is the difference between a Real Estate Agent, Buyer’s Agent and an Exclusive Buyer’s Agent?
There is a big difference, click here for a detailed description.
I heard that buyer’s agents want me to sign a Buyer/Agent Agreement that would tie me up to only work with them. What if I wanted to work with other agents?
We offer an agreement as protection for you the buyer as well as the agent. It allows you to have recourse against an agent who does not perform to your best interests. It also ensures that you will work with that agent for an agreed duration of time; the agreement is written for “X” number of days. The decision is yours. Make the agreement short at first after which you will have been able to decide whether or not the agent you are working with will live up to your standards. At that time you have the option of extending the agreement or, you may decide to choose to work with another agent.
An Exclusive Buyer’s Agent will go to work for you spending many hours of research, scouring the market place continuously looking for the homes that best suits your needs, financially as well as physically. A buyer’s agent wants to know that you are committed to them during the time they are committed to work for you.
Note: The above only applies to the company First Exclusive Inc. Other Buyer Agent companies’ practices may be different.