|Why do you need a Realtor® to represent you when you want
to buy a home or real estate here in the Salt Lake City area,
or anywhere in Utah for that matter? Why not just let the Listing
Agent write up the offer and present it to the Seller? Surely
that makes sense?
The fact is, you can let the Listing Agent write up your offer and present
it to the Seller. The trouble is, there are some serious drawbacks to
The most important thing to remember is that the Listing Agent has a
Primary Fiduciary Responsibility to the Seller. This means that whatever
happens during the course of a transaction, the Listing Agent has a legal
responsibility to always act in the Seller's best interests. Utah
Real Estate Law will allow a brokerage and an agent to simultaneously
act for the Buyer and the Seller with consent of both parties, this is
called Dual Agency or Limited Agency. When a listing agent
acts in this manner, it must be disclosed in advance, and the agent has
to be sure that he does not provide either party with an edge over the
other. It seems fairly apparent that this may not be the best thing for
A Buyers Agent is the representative of the Buyer. You as the Buyer
can feel free to discuss the value of properties, personal finances, and
negotiation strategies with your Buyers Agent, who will keep your
information confidential, and can give opinions concerning the condition
of the property, the effect of improvements, and a variety of information
which a Sellers Agent cannot provide to a Buyer.
The Role Of The Buyer's Agent
When we work with you as your Buyer's Agents, we take our role very seriously.
We know that the purchase of a new home is far more than just a business
transaction and we go to great lengths to make sure that you are aware
of everything on the market that could be of interest to you before you
make any decision.
Not everybody wants to work in the same way of course, and that is why
we tailor our service to suit your needs. Many of the people we work with
like to sign up for our free New Listing Notification service, 3, 6 or
even 12 months before they plan to buy. They then see details of every
home that meets their criteria as soon as it is listed. When they think
they may be ready to buy, we will take them to view the homes they have
selected and we proceed from there.
Alternatively, you may prefer a more personal approach where we will
sit down with you and discuss exactly what you are looking for in a home.
Typically, we will then show you a selection of homes that we think are
close to what you are looking for, just to confirm that we understand
you needs. We will then let you know when homes that could be right for
you come on to the market and show them to you. Often, especially if you
are not a local buyer, we will take digital photos of these homes, both
outside and inside, and email them to you so you can view them at your
leisure prior to arranging a personal showing.
When you find a home you want to buy, we will advise you on how to structure
an offer and then we will present it to the Seller or the Seller's Agent.
Here, our knowledge of local market conditions is invaluable as the price
and terms we suggest can vary greatly depending on the type of property,
recent comparables, how long the home has been on the market and other
Often, your offer will result in the Seller presenting a counter-offer
and some more negotiation may take place before a sale is agreed. Our
aim is to ensure that you get the home you want at a price that satisfies
The Closing Process (also called Escrow, or Settlement)
Buying a home is not a simple process and even after the sale has been
agreed it will typically take weeks before you can take possession. We
will be in constant contact with you during the closing period and we
will arrange home inspections, take you through all the paperwork, ensure
that the seller delivers all of the necessary disclosures etc. and generally
keep you fully informed at all stages. We will also be there with you
at Settlement to ensure that you understand everything you are signing
and to answer any last minute questions.
What Does All This Cost?
All of this service costs you nothing! It isn't really FREE of course,
because the seller pays our commissions. In Utah, it is normal and customary
practice for all real estate commissions to be paid at time of settlement
from the sellers side of the transaction. This means you will have enjoyed
the full benefits of a professional acting only on your behalf through
the entire process, and all at no cost to you.