Buying a home represents the largest and most important asset investment to many people, both monetarily and emotionally. Yet, most people do not have much expertise or knowledge in home buying. Even those who have purchased homes before often walk away from the process confused by the intricacies of the process.
Why should a home buyer work with a professional Real Estate Broker in Colorado?
There are several compelling reasons. First, full broker services to you as a buyer can be free to you. Second, most sellers, including new homes, have an agent working exclusively on the seller’s behalf and work only in the seller’s interest. Third, home buying can be a complicated and intricate process of which the details are not known by most people. A professional real estate broker can guide you through the entire process. Fourth, a professional real estate broker can help you find the right home for you.
Home buying can be a happy and rewarding experience. Having a professional “guide” to help you through this process is definitely to your advantage. Though there are real estate brokers and brokerages that charge you for buyer services, there are some, like the author, that will represent you at no cost to you.
(Most homes are sold with the assistance of a selling broker and in the great majority of cases the listing broker agrees to pay a portion of that commission to the buyer’s broker. In addition, most new home builders agree to pay a commission to the buyer’s broker.)
In most cases where the seller has engaged a listing broker, that broker is working solely on behalf of the seller as the seller’s agent. With new homes, it is almost always the case that the model home sales person is an employee or seller’s agent of the home builder company. The Colorado Real Estate Commission defines the duties of a seller’s agent as follows:
Seller’s Agent: A seller’s agent works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller’s agent must disclose to potential buyers all adverse material facts actually known by the seller’s agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller.
Seems a little one-sided. It certainly makes sense that you have a professional real estate broker working on your behalf and protecting your interests.
Buying a home is a serious investment of money and emotion. It is a complicated process with many potential pitfalls and opportunities. Having a professional guide you through this process can help make this process a fun and exciting experience and ease the stress of home buying.
In Colorado, the following working relationships are available to buyers:
Buyer’s Agent: A buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer’s agent must disclose to potential sellers all adverse material facts actually known by the buyer’s agent, including the buyer’s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer.
Transaction-Broker: A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction, without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property. No written agreement is required.
Customer: A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party’s agent or as the party’s transaction-broker.
Buyer’s Agency requires a written agreement. It places the highest levels of responsibility upon the real estate broker and is a document where the broker can put in writing for you, that you are not being charged for representation.
Buying a home represents the largest and most important asset investment to many people, both monetarily and emotionally. Yet, most people do not have much expertise or knowledge in home buying. Even those who have purchased homes before often walk away from the process confused by the intricacies of the process.
A professional real estate broker working on your behalf can help you in finding homes that meet your desires, showing you those homes, providing information on those homes including comparable homes sold and what they sold for, providing the expertise in preparing the offer, negotiations, obtaining required disclosures, writing contracts, facilitating inspections, facilitating appraisal, facilitating loan and title work, assist throughout the process including the closing, and fulfilling your getting the home of your dreams.
Seems a little one-sided. It certainly makes sense that you have a professional real estate broker working on your behalf and protecting your interests.
Buying a home is a serious investment of money and emotion. It is a complicated process with many potential pitfalls and opportunities. Having a professional guide you through this process can help make this process a fun and exciting experience and ease the stress of home buying.
A professional real estate broker working on your behalf can help you in finding homes that meet your desires, showing you those homes, providing information on those homes including comparable homes sold and what they sold for, providing the expertise in preparing the offer, negotiations, obtaining required disclosures, writing contracts, facilitating inspections, facilitating appraisal, facilitating loan and title work, assist throughout the process including the closing, and fulfilling your getting the home of your dreams.
For more information,
Roy Johnson
Real Estate Broker
303-875-1986
www.mybrokercolorado.com
