Buyer Representation – Rules of Engagement

Rules of Engagement – Sedona Real Estate

How to Get the Most Out of Working with a Sedona AZ Real Estate Buyer Agent and the Internet

Most home buyers, even the relatively experienced ones, are often a bit confused about their rights and the ethical procedures in dealing with real estate brokers.

That’s understandable: Buyer Agency is a relatively recent phenomenon borne out of the Consumer Rights Movement. Let me try to clarify that for you and give you some tips on the most effective use of the Net in buying real estate.

Putting myself in the shoes of a prospective buyer going on-line, my strategy, until now, would have been to start with a search for web sites of realtors in the areas in which I am interested. Even if I were fully knowledgeable about the benefits of buyer brokerage, I would still browse as many listings as I could find.

An excellent place to start is our IDX Sedona MLS property database. We have integrated this IDX MLS service for all visitors to our site, which offers conveniently direct access to virtually all the (MLS) listings in Sedona and the surrounding areas.

As I gained a good sense of the market in that area, I would check out the buyer agents there and eventually settle on the one with whom I felt the most comfortable.

Roy Grimm Sedona Buyer Broker

Having made my selection, I would then focus all of my attention on working with that person, knowing she or he has complete access to all of the properties in the Sedona area (including those not found in the Multiple Listing Service).  I’d give very detailed parameters to my buyer’s agent regarding the sorts of properties that would siut my needs and wishes.  I’d be straightforward regarding my price range, but flexible regarding what I’d like versus what I absolutely need.  The I’d be perusing the MLS myself to show my agent examples of what my tastes are.

By the way, unless I’m prepared to fly out on relatively short notice to see a hot property, my agent and I will pace ourselves so as to time heavy search activity with my expected arrival on the scene. No point in my agent coming up with a detailed research on the perfect property if I can’t do anything about it for another six or eight months. If it’s a great buy, it’s not likely to still be on the market when I finally I get there.

By the time I was ready for a visit to see the area in person, the agent would have done a great deal of research on specific properties and may have set appointments prior to my arrival. Having arrived, met the agent, and spent a day looking at property, I am now in a position to judge whether or not the chemistry is right with the agent.

I would allocate plenty of time to see properties with the agent, but also to tour the whole area on my own, and even to cruise various neighborhoods to assure myself that I had a good sense of knowing what was out there. If I saw something for sale that the agent hadn’t shown me, I’d ask her or him for more information on it and perhaps we’d set an appointment to tour it.

The key point here is that I have established a true sense of teamwork with my agent, confident that the agent is dedicated to my interests totally. If I’m driving around on my own, I am likely to come across an “open house” or an attractive housing development that appears intriguing. I’ll go in and take a look. Why not? It’s my home that we’re looking for. But, extreme care is warranted here because it is vital to my interests and my relationship to my agent that I don’t inadvertently lose my right of representation. If I were to sign in at the open house or the show home without informing the agent there that I was already being represented by my agent, I would instantly become the customer of the agent representing the seller and lose the benefits, in the case of that property, of maintaining the client relationship with my agent. My agent would be legally barred from coming back and bargaining for me and protecting my rights in any transaction that might ensue. Remember, my having buyer-client representation does not cost me any extra money and is likely to get me a better deal than I can get on my own. Allowing myself to be put into the hands of the listing agent puts me at the mercy of someone whose job it is to get the best deal for the seller and negates my buyer representation on that property. So, what to do in that case? Ideally, I call my agent or I go ahead and look, but I hand the listing agent my agent’s card, clearly inform the listing agent of that relationship, and, if I sign in, I make a notation to the effect that I am represented by my agent exclusively. The responsibility for protecting myself and my relationship to my agent, at that point, rests squarely on me. If I don’t follow the above procedure faithfully, then I have jeopardized my own rights and the considerable amount of time, money, and effort that my agent has expended in my behalf.

If it seems as though I’ve gone to great lengths to make the point; I have, because buyers have a seemingly inevitable propensity to inadvertently undermine the client relationship with buyer brokers by innocently exercising their natural curiosity. Extreme care must be taken to preserve that relationship.