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Questions and Answers about Buyer Representation

What does your company do?
We are residential Realtors who have chosen to work only for buyers and never for sellers.

What difference does that make for me as a buyer?
We sign a Buyer Representation Agreement which obligates us to place your interest first. Since never represent sellers, our entire focus is on finding the house you want and helping you to buy it at a fair price. We're more apt to advise you not to buy a particular house than to encourage you to buy it.

How can you work for the buyer if the seller pays your fee?
The written agreement, not the payment of a fee, establishes the broker-client relationship. Just as the seller and his or her Realtor use an "Exclusive Listing Agreement," the buyer and his or her Realtor use the "Buyer Representation Agreement."

As an exclusive buyer's agent, are you limited in the number of houses that you have access to?
No. As members of the Austin Multiple Listing Service, we can show you any house listed by a Realtor. We can also help you with houses "For Sale By Owner," or even with finding houses that are not currently for sale.

Will the price I pay be higher since the seller has to pay your commission in addition to that of his or her own agent?
No. Sellers generally agree to pay a fixed percentage of the sales price to their agent when the house is sold. Usually, this seller's agent will split his or her commission with the buyer's agent. If there is no other agent involved in the sale, the seller's agent simply keeps the full commission. So your choice is simple: (1) buy a house on your own, and let the seller's agent keep the double reward, or (2) contract with a buyer's agent who will be paid by the seller. There is no additional cost to the buyer for using our service. If the agents' commission isn't already built-in to the house price, our clients always know about it in advance. No surprises.

But I don't want to just pay what the seller is asking. Do you try to negotiate a lower price?
That is mainly what we do. We compile complete information on recent sales of comparable houses before we help you put in an initial offer. Then we gather more information from a surprising variety of sources to negotiate your best price from a position of strength. Of course, our duty is to keep secret any confidential information you might share with us.

What happens after you finish negotiating the sales contract? Do you give your clients any help after that?
Yes. Finding the house and negotiating the sales contract are only two-thirds of the process. We also help you to arrange a mortgage loan for your house (a process that actually begins before we ever tour potential houses), we help you to arrange for an inspection of the house by a licensed inspector (making sure that the seller completes any agreed repairs), we help you prepare for the closing of the sale, and we go with you to the closing.

I've bought houses before and never had to sign an agreement. I was very disappointed in the service I got as a buyer, so I'm not comfortable signing a representation agreement.Why should I?
The lack of an agreement practically guarantees that you would receive "poor service." Think about it: have you ever sold a house without signing a Listing Agreement? Of course not: Realtors who work for sellers would never consider putting forth sales effort or spending advertising money to promote a house sale without the security of a written listing agreement. When a sales agent is confident that the seller client will stay with the agent for a set period of time, then the agent has the confidence to extend good service. Why shouldn't buyers get an equal level of service by entering into a Buyer Representation Agreement?

How long a time period does the Buyer Representation Agreement cover?
Most of our buyers find a house after looking for two weeks to three months. We usually suggest a contract period of six months. We will use any time period that makes our buyer client comfortable.