Buying a home is a big decision and a personal one.

You need the right tools to find a home that suites your needs.

Why Use RENAISSANCE REALTY GROUP?

Across the country, advocacy groups and licensing laws now encourage buyer representation. From locating suitable properties to contract negotiations and settlement, seek a real estate agency who will be YOUR representative in buying new property.

As a consumer, how often do you buy real estate property? Once, twice, three times in your lifetime? Purchasing real estate is a complex and major transaction with many details to be handled. In the majority of cases the seller will be represented by an agent. Wouldn't you want to have complete and fair representation in the real estate transaction?

The practice of Real Estate is an exercise in communication, and we at RENAISSANCE are determined to maintain open, interactive channels with each client. In a word, we LISTEN — and we rely on your views, goals and feedback to help us plan strategies and develop effective solutions for your real estate needs. Thoroughness is a hallmark at RENAISSANCE REALTY GROUP. Based on our experience and a careful review of each clients real estate needs, we identify all workable options and recommend the best solutions. Our in-depth counsel puts you on firm ground allowing you to make informed decisions with confidence.

WHAT IS BUYER REPRESENTATION?

A Buyer's Agent is an agent you empower to represent your interests in a real estate transaction. Before states passed real estate agency laws, most real estate agents actually represented the seller's interests legally (which made it hard for them to ethically get the best deal possible for the buyer).

Buyer Representation means that you, the buyer, have a licensed real estate agent working for you on the purchase of your new home. The best part is that in most cases the seller will pay the fee; therefore, there is no additional cost to the homebuyer.

There are basically two types of real estate agents:

1) A Traditional agent — Traditional agents work for the seller.

2) A Buyers’ agent — A Buyer’s agent works solely for the buyer.

These relationships are governed by “The Laws of Agency”. An Agency relationship is established whenever two persons agree that one is to act on behalf of the other and in accordance with the other’s directions. When a client retains an attorney, an Agency relationship is established in the same manner as when a seller lists a home with a real estate agent, or when a buyer asks a real estate agent to be their representative. Establishment of an Agency relationship carries with it several important duties that the person doing the representing owes to the person being represented. These important duties are: loyalty, confidentiality, obedience, disclosure, reasonable care and diligence, and accountability. The importance of all this to the buyer is that traditional agents owe these duties to the seller, while a buyer’s agent owes these duties to you, the buyer.

When do I need a Buyer's Agent?

Whether you are buying a multiple listing property, a for-sale-by-owner, an investment or are having a house built, you owe it to yourself to have your own representation.

What does buyer representation cost me?

If you are buying a multiple listing property, the seller will almost always pa y your Buyer's Agent out of the proceeds of sale. In addition, many for-sale- by-owners and most good builders already have a partial commission built into their prices.

However, in circumstances where the seller is obviously not offering any commission, your Buyer's Agent will discuss some mutually agreeable fee with you ahead of time.

What value do I get for buyer representation?

That depends on what you need. A good buyer's agent will-

1. Represent only you in the purchase of your property.
2. Have a good sense of property values so you don't pay too much or lose a
   once-in-a-lifetime home to another buyer who understood the value better
   than you did.
3. Know qualified lenders to help you get pre-approved (a powerful negotiating tool when your offer is being presented to the seller).
4. Monitor the market daily to make sure you see the good deals before they're snapped up by someone else.
5. Assist you in preparing an offer with terms favorable to you, the buyer.
6. Present the offer to the seller and negotiate the offer on your behalf.
7. Provide you with an estimate of closing costs.
8. In conjunction with a qualified home inspection service, make sure you understand p hysical problems (current or potential) affecting the usability and value of the property.
9. Supervise the closing process to assure you a timely and accurate closing.

List of Services a Renaissance Realty Group Buyers Agent will Provide.

1. To provide you with all the current listings from all companies in your price range.
2. To provide information on market trends in any neighborhood.
3. To help you with financial preparation, supply approximate cost of closing, payment, etc. and to help you pick the correct price range for you.
4. To suggest which homes might best fit your needs. Cheapest is not necessarily the best.
5. Total square footage, amenities, neighborhood, condition, potential resale are factors that should be brought to your attention. The final decision is always yours, after all, it is your future home and your investment.
6. To set up appointments with the owners for you to view properties at your convenience.
7. To arrange showing in a manner to help educate you to neighborhoods and the current market in your price range. Owners like to prepare their homes to make the best impression. An agent also may have to round up listing agents, owners, tenants or pick up keys. Therefore the agent needs to know the homes you wish to view al least 24 hours in advance to schedule appointments.
8. To point out any defects we see in the property as you view it.
9. To discover the recent history of the property, previous sales information etc
10. To provide you with recent school and other information you require..
11. To do a comprehensive market analysis on any property that you consider buying.
12. To give you a close idea of closing cost and payments on a specific home.
13. To make suggestions of items to include in the offer to protect your interest.
14. To prepare a legal offer, obtain mandatory disclosures, and prepare addenda.
15. To negotiate the offer, possible counter offers for you.
16. To make sure all documents are signed, and distributed to all interested parties.
17. To take you in for finance and help you resolve any financing problems that occur.
18. To take care of inspections, abstracting, and appraisal.
19. To aid you in setting up utility transfers, insurance and other matters for closing.
20. To set up your final inspection and note any problems, prior to closing.
21. To set up the closing and arrange for possession.

The Benefits of Using a Buyer's Agent

Using a Buyer's Representative offers the consumer many benefits. A Buyer's Representative will:

1. Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
2. Assist the buyer in determining the amount that they can afford (pre-qualify) and show properties in the price range and locale the consumer has determined.
3. Assist in viewing properties and either accompany the client on the showings or preview the property on behalf of the client to ensure that the identified specifications are met.
4. Research the selected properties to identify any problems or issues to help the consumer in making an informed decision prior to making an appropriate offer on the property.
5. Advise the client on structuring an appropriate offer to purchase the selected property.
6. Present the offer to the seller's agent and seller on client's behalf.
7. Negotiate on behalf of the buyer client to help obtain the identified property. Keep in mind that the buyer agent will be doing so with their client's best interests in mind.
8. Review and explain all legal documents to their buyer client.
9. Recommendations and assistance in securing appropriate financing for the selected property.
10. Provide a list of potential qualified vendors, e.g. movers, attorneys, and carpenters, if these services are needed by the consumer.

Most importantly, the buyer can be confident that they are fully represented throughout the real estate transaction.

How do you hire a Buyer's Agent?