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Buyer Agency- Why it Really is So Important

In a buyer's market, the buyers need to be represented as well.

I’d like to introduce myself and welcome you to my blog. My name is Seth Levy, a resident of the great South Shore and a licensed realtor with Shawn Elliott Homes and Estates.

Having grown up on lived on the South Shore and still residing here, I have garnered an appreciation for everything this great community has to offer. Great schools, restaurants, parks and beaches, neighbors, and stores to shop in. I feel very strongly that the South Shore is an oasis, a near utopia for all the great things in life. I feel so strongly about this that I have decided to make the South Shore the place I work as well.

My decision to sell real estate as a full time licensed agent was originally made because of my thorough understanding of the real estate community, the relationships I have within the community, and my prior economics and sales related experience, however my work has shifted into a passion. 

I don’t sell real estate just because I know real estate or know the people in my neighborhood and its convenient. I’ve developed a love for listing and selling homes that is very difficult to describe, because its not about listing and selling the house that I enjoy as much anymore as I do helping the families who are selling and buying the homes. 

In a very confusing and challenging real estate environment, I have a very strong mission: CREATING CLARITY. With access to information on the internet about real estate as well as many opinions on what is “going on” in real estate, I believe that staying informed and having the most current information is what will help clear up the mess that so many people have gotten themselves into.

By CREATING CLARITY, buyers, sellers, investors, renters, speculators and anyone who is in the real estate market will be better equipped to get the best deal out there. I encourage all of those people to get the opinions of multiple real estate professionals to get the clarity they need! On a very positive note, existing and new homes sales were both up in January by about 3.2 percent! It could be becuase of this unseasonably warm winter!

I know this isn’t a formal blog post, more like an introduction of who I am, but there’s more great content to follow! 

My next post is going to be real estate geared as most of them will be and I will discuss the importance of buyer agency. Buyer agency is representation for the buyer or purchaser of real estate. Typically sellers will hire a real estate agent to market their home and represent their best interests, which is exactly what a listing agent or selling agent legally should do. By representing “best interests” I refer to getting the highest price for the seller and the best terms at closing, which means that agent is not negotiating on the buyers’ behalf. 

Buyer agency was created for buyers to be represented by a professional who will negotiate THEIR best interests, getting them the best price, showing them comparable properties and discussing the length of time the homes have been on the market, thus affecting the sellers willingness to negotiate on that price.

There’s so much more to cover on buyer agency, we merely scratched the surface. I hope you stay tuned and keep reading these blogs and most importantly, find them valuable and informative. As I said before, I am always here to help as well as other qualified realtors in the area. 

Have a great weekend and thanks for reading. Leave your thoughts and comments!

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Jon L. February 27, 2012 at 01:55 AM
Mr. Levy, When are you going to cover the issues of some of your colleagues in your noble profession who behaved in a less than admirable fashion leading buyers into homes that they could not afford with 5/1 ARMs so that they could collect a commission? I know that the general public likes to blame banks for making bad lending decisions but I think that your profession is just a culpable by steering buyers to these lenders and 'selling' homes to people that could not afford them. Just curious, what do you think the role of the 'buyer agent' is when they are just a dependent on the price being as high as possible so that they get the highest commission possible?
Seth B. Levy February 29, 2012 at 03:40 AM
Jon L, I thank you for acknowledging my noble profession and I too am upset by the practices of some of those mortgage brokers, bankers, and unfortunately real estate agents as well. I agree that just like mortgage brokers, there were some real estate so called "professionals" who did not do the right thing and have caused much hardship. As I mentioned, I am here to "create clarity" and provide as much transparent and valuable information for anyone I'm working with to make the best decision for themselves. I do not encourage anyone Im working with to use a lender or attorney that I prefer, but rather recommend that they shop around and work with one they feel the most comfortable with, while at the same time as their agent, making sure that their best interest are met. As a professional I take pride in what I do and have a reputation to protect and build as someone who helps his clients make the best financial decisions. I want to thank you for commenting on my blog and appreciate your hostility kept to a minimum. I will certainly cover some of those issues in the future, however if you notice my blog posts you'll see that this is my first yet, but stay tuned because there is a lot more great information to come! As a buyers agent my job is to negotiate a price that is agreed upon by the buyer and seller, while representing my buyer. Indeed I would like a higher commission but Ill make the money back tenfold in referrals from that happy buyer. Thanks again Jon!
Jon L. February 29, 2012 at 12:35 PM
Thanks for your reply Mr. Levy. While it may seem hostile please be clear it was not directed at you but directed at your predecessors. According to my research there is no way that you would have been able to contribute to the housing disaster seeing as you were not even a property manager at the time many of those mortgages were sold and closed upon. I point out the part about that fact that the buyer agent does have a vested interest in the buyer paying as a high a price as possible because I think that the time is coming for a fee for service model as a buyer representative as opposed to the split commission system that is in place today. In this saturated marketplace I wonder if there is room for such a person in the process. Looking forward to your posts! Jon

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