In the world of real estate, everyone always talks about “listings”. This is the sell side of the business. It takes a lot to pitch your business and get someone to “list” their house with you. In every real estate firm I have worked for before launching this brilliant real estate brokerage, everyone has focused the training on how to get listings. Working with buyers has always been a way for beginners to get their feet wet. There is very little glory that comes with working with buyers. Sometimes they don’t know what they want. A lot of times they aren’t serious at all and just looking for a nice way to spend a sunday afternoon. Many times they want decorating ideas. Your weekends are spent taking them all over the place for the POTENTIAL of a commission. So needless to say, buyers don’t tend to get a ton of love from the super successful agents.
So buyers find themselves in a world of no love…shuttling themselves from town to town, open house to open house trying to not get an eye role from the agent that looks at them and makes a quick judgment on how much they want to spend and how much time it will take to get a deal done.
Buyers are the most important real estate clients out there, and are undervalued and underserved. Not only that, but almost every firm does both buy side and sell side. So what happens when a buyer comes in to see some homes, and the firm directs them to their own inventory of homes they are trying to sell. Wouldn’t that make sense? They are in fact representing the best interests of the seller too, aren’t they? So NOW the buyer gets not only no love, but no true representation. They make all buyers sign a Dual Agency Disclosure.
What is dual agency?Dual agency typically arises in the following way: a real estate broker employs two salespeople, one who works for the buyer as a buyer’s agent and the other who works for the seller as a seller’s agent. The real estate broker and his salespeople are “one and the same” entity when analyzing whether dual agency exists. As soon as the buyer’s agent introduces the buyer to property in which the seller is represented by the seller’s agent, dual agency arises. There is an inherent conflict of interest. In the 500+ towns we cover, it is extremely difficult to find an agent who does not work for a firm which has listings and is exclusively buy side. So…you get my drift.
WHY WE LOVE OUR BUYERS!!
I have always been passionate about working with buyers. They are fun, entertaining and at such an exciting part of their lives. They look at each room and get excited about thinking about all of the great events that will take place there. When building this business, I have always thought that the buyer is the key client that makes the real estate world go round. They are in control of the transaction. They dictate trends of where people want to be, what people like, and the way they live. There is truly nothing more exciting about finding someone their first “home”. So… buyers deserve the royal treatment…and therefore we built our entire business around … THE BUYER!