Buying Real Estate In Massachusetts - Know the Facts
RULE #1: The Listing Agent/Broker works for the Seller.
Unless otherwise disclosed to you in writing. It is not to your advantage to deal direct with them and it will not save you money. The person or company on the property For Sale sign is not your friend until the purchase is concluded and sometimes not after that.
One common misconception that many prospective homebuyers make is that the agent selling the house, the Listing Agent or Listing Broker is there to help them.
It is true that they will try to help, but it is in their best interest to help the Seller more, in fact, they are legally obligated to be loyal and confidential with the Seller,
relaying anything you might say to them in confidence to the Seller, especially anything personal that might give the Seller an edge in negotiations, so that you will pay the highest price and therefore increasing their commission. By MA law the Listing Agent/Broker should disclose their representation to any interested party with a form currently called: The Mandatory Licensee Consumer Relationship Disclosure form.
In Massachusetts, agents can represent either the Seller or the Buyer. When a Seller lists their home through a real estate company (Broker), an agent from that company works with them as the Listing Agent (Seller's Agent) for their property. The Listing Agent/Broker represent the Seller, and the Seller agrees to pay them a commission, which comes out of the proceeds of the sale. Potential buyers for the property may contact the Listing Agent directly, but they need to keep in mind that the Listing Agent/Broker works for the Seller, and has the Seller's best interest in mind when negotiating an offer. They are bound do disclose all information they gather about the Buyer to their Seller client, their principal
RULE #2: The Buyer Agent works for the Buyer. Please choose us.
This is how you get around Rule #1. This is where the Buyer Agent comes in, with the experience and savvy to deal with and negotiate with the Seller and the Listing Broker to get the best value for the Buyer and make the deal work for everyone. It is amazing how many things can be used to negotiate the sale price lower and most Buyers don't have the experience or the training to use them.
At Nathaniel Steele Properties our experienced agents are ready to assist Buyers in finding and acquiring new and pre-owned properties and it won't cost you more. Whether you are a first time homebuyer, shopping for additional property, looking for the best investment, or ready to start a new business in a commercial or industrial space, we will go to work for you as your Buyer's Agent.
Use a Buyer's Agent to make your searching easier, to assist with every aspect of your purchase, reducing your stress and using your time more effectively. You'll be able to see more properties on your schedule that fit your criteria and you'll have less hassle by letting the Buyer Agent do the legwork. When it comes time to place an offer on a property, you'll be glad to let your Buyer Agent handle the negotiations and paperwork based on your desires, dealing with the pushy Seller Agents or Sellers that only want to increase their bottom line.
Buyer Agency at Nathaniel Steele Properties means we work in your best interests, negotiating for the best price and terms for you, not the Seller. We get paid after the sale is concluded and our commission comes from the split offered by the Listing Agent/Broker.
Our service to the Buyer includes assistance with:
Mortgage Loan pre-qualification
Finding and Researching Properties based on Buyer criteria
Coordinating Showings with different Listing Agents and Sellers
Offer Preparation, Presentation and Negotiation using R.E. Board Approved Forms