First - A Critical Issue
In Arizona, the broker/agent you see named in any form of advertisement for a new or re-sale property is, by contract, the representative of the Seller of that property!
He/she has specific duties to the Seller and is legally limited in the advice and information that may be provided to you as a Buyer.
As a Buyer, for a new or re-sale home, you need and deserve your own representation to work exclusively for your interests and have specific duties to you.
Arizona Real Estate Agency presents a more complete discussion of agency that is important to both buyers and sellers.
Your Buyer Agent should:
- assist you to develop a feel for the neighborhoods as well as the metro area real estate market.
- locate the suitable properties in the areas you select for detailed consideration.
- furnish you with extensive information for properties of particular interest to you, including information on prior sales of the property, comparable sales in the area, plus other facts and issues that are pertinent to your interests and circumstances.
- advise and assist you to prepare an offer to purchase your choice property.
- negotiate with prospective Sellers and/or their agents on your behalf.
- assist you to locate and apply for financing.
- assist you in the detailed examination and inspection of the property.
- facilitate all other matters required for settlement of the transaction.
Unless you direct otherwise, all properties in the MLS and/or all new homes that meet your criteria should be shown to you irrespective of who the Listing Broker or builder is. Listings of your agent's broker should be given no more and no less consideration.
Service Charges
- Your buyer agent should NOT charge an additional or separate fee for buyer representation.
- Compensation would normally be paid to your agent as a commission at close of escrow, appearing as a reduction in the net cash to the Seller.
In Summary, your agent should ...
- assure that you find your best home choice - new or re-sale, as you prefer
- negotiate the lowest price and best terms
- assist you to find the best financing
- and then "baby" the escrow to a timely close
... and it shouldn't cost you a penny more
... in fact, your cost should be less
because the price will likely be less.
