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Ann Byer, REALTOR®, ABR®, MBA

Keller Williams Real Estate®
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Ann Byer, REALTOR®, ABR®, MBA

Keller Williams Real Estate®
100 Campbell Blvd., Suite 106, Exton, PA 19341

484-678-6445 (M), 610-363-4300 (O)
  • SEARCH ALL HOMES
    • Search All Homes
    • New Homes for Sale Philadelphia
    • Rentals
    • Luxury
    • New Listings
    • Recent Price Reductions
    • Open House
    • Homes with Large Lots
  • SEARCH BY SCHOOL DISTRICT
    • Avon Grove School District
    • Coatesville Area School District
    • Downingtown Area School District
    • Great Valley School District
    • Kennett Consolidated School District
    • Octorara Area School District
    • Owen J Roberts School District
    • Oxford Area School District
    • Phoenixville Area School District
    • Spring-Ford Area School District
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    • Twin Valley School District
    • Unionville-Chadds Ford School District
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Ann Byer, REALTOR®, ABR®, MBA

Keller Williams Real Estate®
100 Campbell Blvd., Suite 106, Exton, PA 19341

484-678-6445 (M), 610-363-4300 (O)
  • SEARCH ALL HOMES
    • Search All Homes
    • New Homes for Sale Philadelphia
    • Rentals
    • Luxury
    • New Listings
    • Recent Price Reductions
    • Open House
    • Homes with Large Lots
  • SEARCH BY SCHOOL DISTRICT
    • Avon Grove School District
    • Coatesville Area School District
    • Downingtown Area School District
    • Great Valley School District
    • Kennett Consolidated School District
    • Octorara Area School District
    • Owen J Roberts School District
    • Oxford Area School District
    • Phoenixville Area School District
    • Spring-Ford Area School District
    • Tredyffrin Easttown School District
    • Twin Valley School District
    • Unionville-Chadds Ford School District
    • West Chester Area School District
  • SEARCH BY NEIGHBORHOOD
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    • Great Valley SD
  • GET ADVICE
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    • Avon Grove School District
    • Coatesville Area School District
    • Downingtown Area School District
    • Great Valley School District
    • Kennett Consolidated School District
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    • Oxford Area School District
    • Phoenixville Area School District
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    • Great Valley SD
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Orchard Ridge – Downingtown PA 19335 Neighborhoods
September 17, 2013
Rhondda – Exton PA 19341 Neighborhoods
September 17, 2013
Published by Ann Byer at September 17, 2013
Categories
  • Buying Tips
  • Selling Tips
Tags
  • Buying Tips
  • Real Estate Agent
  • Selling Tips

It’s important to understand relationships between Realtors and their clients – who represents whom. You can learn why a buyer might not want to call the agent on the sign.

realestate

Think Before You Call!!

Whether you are buying Real Estate Chester County or anywhere, it’s important to understand relationships between Realtors and their clients.   When a Realtor is representing a Seller, the Realtor has a duty of undivided loyalty to that Seller and pledges to protect and promote the interests of that Seller.  When a Buyer contacts that same Realtor, if the Buyer does not understand that relationship, he may offer information which could be advantageous to the Seller in a negotiation.  Information is king in a negotiation. Giving up any information to the Seller’s agent could be a mistake. It is in the best interest of the Buyer to have a Realtor who pledges to protect and promote his interests.

For example, Buyer A is driving past 123 Main Street and sees a sign in the yard for ACME Realty.  He calls ACME and says he wants to see 123 Main Street.  John Acme, agent for the Seller, agrees to show him the house.  While viewing the house, Buyer A tells John Acme that he needs to find a house quickly as his lease expires in two months and he thinks 123 Main Street is the perfect house for him.  He wants it really badly.  Can John Acme write up an offer?

John ACME has duties to his client, the Seller, of obedience, undivided loyalty, full disclosure, confidentiality, accounting and reasonable care.  Buyer A has just given up his bargaining power.  The agent is representing the Seller and it would be his duty to share this information with the Seller.  Do you think knowing that the Buyer has urgency and motivation would be helpful in a negotiation?  Absolutely!

In some cases, the Realtor for the Seller can also represent the Buyer; this is called dual agency.  By law, the agent must disclose this to both the Buyer and the Seller.  Dual agency is a delicate situation, and may not be the best for the Buyer and/or the Seller.   In my opinion, duties of loyalty and disclosure become cloudy in this arrangement.

So what is a Buyer to do?  They want to see 123 Main Street!  The Buyer should find an agent to represent him and him alone.  This is called Buyer Agency.  Under Buyer Agency, the Buyer has a Realtor 100% committed to his interests with duties of obedience, undivided loyalty, full disclosure, confidentiality, accounting and reasonable care.

And what does this cost?  Generally nothing!  How cool is that?  Traditionally for Real Estate Chester County, the fees are paid by the Seller to the Listing Agent, who agrees to “cooperate” with the Buyer’s Agent (also called Selling Agent).  So the Buyer does not pay the Agent out of pocket; payment comes from the Seller via the Seller’s Agent.

So why would a Buyer call the Realtor on the yard sign?  I think that doesn’t make sense.  Now that you understand, would you agree? If you want to see 123 Main Street, or any other Real Estate Chester County and want full representation, call Ann Byer 484-678-6445 today!

 

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100 Compbell Blvd.,
Suite 106,
Exton, PA 19341

Phone number:

484-678-6445 (M)
610-363-4300 (O)

Email:

annbyer1@gmail.com

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