Pearson & Associates Real Estate Team
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BUYING MISCONCEPTIONS

When purchasing a home, it’s best to work with the listing agent

Negative! The sellers signed listing paperwork and Agency with THEIR Realtor®, who owes them fiduciary duty. If you, as the buyer, were to deal directly with the seller’s agent, that exclusive agency would transition to a limited agency, which essentially means that listing agent will NEVER work exclusively for you. As your buyer’s agent, we can research every aspect of that property, and provide you with all the information to assist you with making an educated purchase…best part is it’s FREE to use a buyer’s agent who will give you 100% loyalty. When a seller lists a home, they usually agree to pay 6% in Realtor fees (3% to their agent, and 3% to an outside agent). If the listing agent acts as a limited agent, they will more than likely make both commissions, without 100% loyalty to YOU, as the buyer. Why risk it? Do you work with the same attorney representing the “other” party in litigation? Probably not.

Why do I need a Realtor?

Our response: Why not? Would you diagnose your own illness without the expertise of a doctor, or perhaps by compiling random answers from Google? No!
We eat, sleep, and breathe real estate 24/7 as a full time passion/career - not a hobby. We have been through almost every possible scenario with buyers and sellers, to know how to keep your interests protected.

Our experience includes new construction, short sales (we can give you so many details regarding short sales, it will make your head swim), REO (bank-owned), HUD homes, as well as the retail market. We know the current market, the trends, the laws, lending guidelines, how to negotiate the deal for you, how to keep your earnest money protected, resources for every aspect of the real estate realm, developing communities…the list goes on.

What is Agency?

This word is synonymous with “trapped” for most people.  Agency is basically representation on your behalf. We, as your agent, are on the front-lines of the battle fighting on your behalf. We are here to educate and assist you with the entire process, strategy, negotiation, lending, inspection, and closing. An Agency Agreement is a mutual agreement for our clients, as well as us. We cannot negotiate on your behalf without it; it is written permission for us to do just that.

Unfortunately, most people have heard horror stories about friends of friends being contractually obligated to stay with an agent that "didn’t do their job" at all…let’s be honest, that does happen. On the flip-side, we as agents, have often worked months and months with a client, only to have them bring in their “cousin the Realtor” at the last minute, and our time and resources have been wasted.

The Agency protects both parties and is an agreement of mutual respect and understanding, outlining the guidelines of the working relationship. Bottom line, we base our business on rapport with our clients (aka “family”), and not locking you in with an Agency Agreement. If we all decide the relationship doesn’t work, we will cancel the Agency. We wouldn’t want to work with someone we didn’t like or trust either.

The more properties I preview, the greater my chance at finding “the one”

False! Finding a home is NOT a numbers game. Once we narrow down your list of needs and wants, we are ONLY going to send you properties that meet your criteria exactly. We are doing you a disservice if we are sending you every property in your price range and location, when you’ve given us specifics. If you have signed up for generic property lists from other agents or websites, you will see our property lists are very different. They are tailored for you, specifically.

We research EVERY new listing before sending them to you. Once we’ve built the list of homes you’re interested in seeing, we will road trip out to preview your list. Most of our clients find “the one” within previewing 10 homes. After years of feedback, many of our clients told us they wish they would have "jumped on one of the first homes they walked through," rather than playing the Numbers Game (the more they viewed, the better they’d get).

If you offer the listing price for a home, the owner must accept it

As with all contracts, there must be an offer and acceptance, and it must be in writing. In today's market it is common to receive multiple offers on a property. The owners reserve the right to accept any offer regardless of when it was received. On a "hot" property, numerous buyers are fighting for the chance to get the home and will try to make their offer the best. This does NOT mean the cash buyer or highest purchase price will necessarily be the offer accepted by the sellers… it’s whatever offer fits their needs best. It is important to have a buyer’s agent representing you who knows the area and what the homes are selling for, and is skilled in negotiating contracts.