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In addition to more than 7,500 resale homes available, Naples boasts more than 50 new home
developments. A new home development pays local RealtorsŪ to bring clients into their
developments. They pay the RealtorŪ a commission equal to that of a resale home. The local
RealtorŪ has equal incentive to bring a buyer to all new home developments as well as
resale homes. New home developments do not offer reduced prices to buyers who are not
represented by a Buyer's Agent. They would never sell another property again! The Buyer's
Agent commission is paid to the RealtorŪ by the new home developer when the sale is complete.
Now, think about what this means to you, the buyer. A RealtorŪ serving as a Buyer's Agent will
be unbiased and totally objective about showing you properties which meet your criteria.
An effective Buyer's Agent must be knowledgeable about new home developments as well as resale
neighborhoods. What a highly effective source for you to tap into for your home purchase
information!
It is to your advantage to be represented by a buyer's agent on a new home sale as well as
a resale home. A huge number of home styles are available at these new developments. It
stands to reason that the sales staff of one new home development has a significant interest
in selling their own product. The developer's home sales staff only get paid if you buy their
product. They love when a client walks through the door without buyer's agent representation.
They can keep the buyer's agent commission fee and can focus on the attributes of their own
development without being compared to another neighborhood which may offer comparable or better
amenities. They have no incentive to listen to a client's personal requirements. They want a
sale, no matter what. A buyer's agent listens objectively and will locate a property just right
for the client.
Once you have appointed a buyer's agent, make sure you call upon your buyer's agent to take
you to any new development or resale home you discover with your own research. New home
developments "register" clients on first contact. If your buyer's agent is not present with
you on "first contact" then your buyer's agent will not ever be paid for that sale, and the
developer will keep the commission. It is impossible for your buyer's agent to offer you
representation unless they are with you on your very first contact with all real estate property.
First, interview RealtorsŪ until you feel comfortable with your selection. Dedicate yourself
to work with one agent. Second, work with your RealtorŪ to obtain financing and become
financially qualified. More than 60% of Naples buyer's pay for their home with cash. The next
best thing to cash is a Letter of Mortgage Commitment from a lending institution. Becoming
pre-qualified for a mortgage or paying with cash provides a buyer with tremendous negotiating
leverage. If you were a seller, wouldn't you rather negotiate a contract with a pre-qualified
buyer? Once you have an effective relationship in place with a RealtorŪ and your financing is
complete, you are ready to begin searching for property.
Selecting a RealtorŪ to act as your exclusive agent provides you with some real advantages.
First, your agent will pay full attention to your needs, including financing, motivation,
timing, etc. without an obligation to match you to a seller's property. Your agent must keep
confidential the information you provide, so you need never fear that you are disclosing
something that will harm your negotiating position. A RealtorŪ's duty of undivided loyalty
to you enables your agent to suggest alternative solutions to your needs, thereby increasing
the supply of appropriate properties.
An ABR RealtorŪ has access to the entire market and is not limited to properties that have
been listed for sale. This means "For Sale By Owners," lender owned properties, etc. are all
possibilities. If necessary, an effective RealtorŪ can promote the buyer's search for an
appropriate property through "property wanted" promotions in print media, to sellers
representatives and directly to owners of properties that may be appropriate for the buyer.
Because of the undivided loyalty of an exclusive agent, the buyer should be notified of new
listings and be given an opportunity to view these properties before other customers are
notified.
Don't make a terrible mistake. Interview RealtorsŪ until you find one that can best represent
you. We will provide you a list of interview questions to ask RealtorsŪ. Use these along with
your own. We believe it is important for you to know how we feel about the real estate industry
and how we feel about representing you. We believe you win in life by helping others.
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