New Century Realty Group

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Anne Joyner

 

 

  

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Buyer Representation

A thorough discussion of "buyer representation" follows.  It is important to understand the differences between being treated as a customer or being a client.

An agent working with a buyer, but not representing that buyer, has a "customer."  She shows the buyer/customer homes until the buyer makes a purchase decision, then completes a fill-in-the-blanks contract form.  Upon contract acceptance, the agent provides coordination on any and all matters until closing. Throughout this entire process, the agent owes the customer fair and honest treatment and is a provider of factual information, but is precluded by law from giving opinions which are based on judgment.

An agent representing a buyer has a "client."  In doing the above tasks for her client, the agent’s work efforts are interlaced with suggestions and actions that are based on the application of his judgment.  While there is no limit as to what an agent representing her client may legally do for that client, the following list consists of those tasks that are typical of the things an agent does in the representation of her client, all of which go above and beyond the treatment afforded a customer as described above. 

Buyer Representation:

  • Agent has a fiduciary relationship with her buyer/client.
  • Agent must be and remain loyal to her client.
  • Agent must express and represent the viewpoint of her client.
  • Must always act in the best interest of her client.
  • Must protect the interest of her client.
  • Must point out any mistakes her client is making or contemplating.
  • Addresses concerns of her client and speaks for her client.
  • Acts for her client as instructed.
  • Advises on location of home choices.
  • Advises on reputation of builders.
  • Advises on construction materials used.
  • Provides information on investment history.
  • Determines the fair market value of the selected property.
  • Explains the language and fine print in a real estate contract.
  • Suggests appropriate special stipulations for the contract.
  • Seeks the most favorable price and terms for her client.
  • Inspects work in process to observe manner in which remaining work or special stipulations are being implemented.
  • Anticipates problems and seeks to avoid them.
  • Suggests lender alternatives and may assist in selecting lender.
  • May get closing cost concessions (reductions) from lender.
  • May evaluate and advise on various loan programs for his client.
  • Advises client about (Private Mortgage Insurance) PMI and how to avoid it.
  • Advises client about up-front vs. financed PMI.
  • Advises client about how to end PMI payments.
  • Advises client on the selection of home inspector.
  • Attends home inspection so as to better understand its findings.
  • Suggests contract amendment based on inspection results.
  • Advises client throughout inspection amendment negotiation.
  • Advises client about cost and need for final survey.
  • Advises client on title examination.
  • Advises client if there are unforeseen clouds on the title.
  • Advises client about "owner's title insurance."
  • Advises client on the selection of the closing attorney.
  • Attends final walkthrough and advises client on needed improvements.
  • Inspects HUD-1 closing statement, looking for overcharges.
  • Advises client when it is time to file for homestead tax exemption.
  • Applies leverage after closing if unfulfilled contract conditions remain.

The extra services afforded to a client/buyer cost the buyer nothing, as it is the real estate commission paid by the seller that compensates the selling agent for her efforts.  However, for an agent to invest the effort described above, the agent must have a reasonable expectation that her client will actually purchase a house from her and not from any other agent.  Therefore, it is required by Georgia real estate law that the exclusive representation agreement be put in writing.  The buyer must stipulate that he/she will work with the named agent on an exclusive basis

I may have left a few things out from the above list, but I think my list is very representative of buyer representation activities.  Realize that there is no limit to what I can do -- just as long as it is legal and appropriate.

 

 

 

 

 

 

Anne Joyner

770-487-8748  Direct

678-642-2362  Cell

anne@annejoyner.com

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Search the entire Georgia MLS from this website. Find all Peachtree City homes for sale and Newnan real estate listings right here.

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See my online Relocation Package for a weath of information about the Peachtree City area, including Newnan and Summergrove.

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The Guide Covering Coweta and Fayette Counties

See The Guide, an online magazine, all about living in the Peachtree City area.

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See why this area is called a Golfer's Mecca. Click on Canongate for details.

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Visit Schools and review the school reports for Fayette and Coweta County. 

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See Health Care for details of what is available.

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See Local Activities for things to do and see.

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Click on Dining for a guide to the Peachtree City area restaurants

 

Contact Me

About Atlanta GA's Southern Crescent Area Homes and Real Estate

Contact me with confidence with your Peachtree City, Fayetteville GA and Summer Grove at Newnan Georgia real estate questions and comments.  I do not sell, give or otherwise share any of your provided information to any third party.  It is for internal use only related to providing you with my real estate services.

Direct:  770-487-8748

Cell:     678-642-2362 

E-mail: anne@annejoyner.com 

GA Real Estate License Number: 150102 agent


   Company Information

NEW CENTURY REALTY GROUP, INC. (NCRG)                    

11222 Richmond Avenue, Suite 235

Houston, TX 77082

Web: www.newcenturyrealtygroup.com

Toll Free: 1-866-205-4992

Georgia Brokerage Firm License: H-45053 broker

Georgia Broker ID: 317886

GA MLS Office Code: NCGP01


 


 

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    The information contained herein is believed to be correct, but is subject to errors, omissions and changes.   

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