The Barry and Larry Vestera Real Estate Program Radio show 8:00-9:00 AM | October 16,…
One of the worst feelings is to feel left on your own. Like having no one to protect you from anything or anyone that scares you. It used to be like that for real estate buyers until home buyers finally got the option to have true buyers representation. Can you imagine investing and having everything you told your agent including your max price and motivation revealed to the seller? Today, we will learn more about one of the Top Exclusive Buyer Agents in Boulder, Colorado and why buyer representation exists.
Kathleen Chiras, CEO/owner of Buyer Agent Search recently had an exclusive interview with an exceptional Exclusive Buyer Agent from Boulder, Colorado- Alta. She established her own real estate company in 1990 and continues to be an advocate for the buyers. Her extensive experience built the reputation that makes her one of the best realtors in the country. Not to mention the fact that she was among the first REALTORS who realized that the value provided by the real estate industry is determined by the kind of relationship formed with the clients.
What is Subagency?
“Subagency refers to a specific client representation relationship between a property listing broker and another real estate broker who brings in a buyer to purchase the property. In subagency, the agent bringing the buyer is actually working for the seller as a subagent of the listing broker. This is important, as the agent working with the buyer actually owes fiduciary duties to the seller, not the buyer.”James Kimmons
Alta shared that in the late 1960s the real estate business only seemed to pay attention to sellers. Imagine how helpless homebuyers were in the past. Thankfully, this practice is almost regulated. Consumers can now take advantage of exclusive buyer agents who can negotiate 100% for their buyers and who can keep their motivations as buyers safe. As a potential buyer myself, that’s priceless. It eliminates a big percentage of being scammed. And at the same time increases the likelihood of enjoying the home buying process.
To avoid falling victim to unfortunate situations, a consumer can simply learn about the various levels of representation available to them. Buyer Agent Search exists and continues to provide consultations for free for this reason alone. And also why it is highly recommended that consumers, especially first time home buyers, secure the services of a buyers agent even before they start with the home search.
What is a Buyer Representation for?
Getting buyer representation means hiring an expert to deal with negotiations. A buyer representation agreement is a contract that binds a real estate agent and the buyer to form an exclusive representation relationship. The agent is contracted by the buyer to act as the buyer’s agent in an agency agreement who will extend the necessary assistance and expertise for buyers to safely acquire properties of interest to them.
Also, a seller agent can procure a buyer for a property they list and fall back to a transaction broker role. That is one where neither the buyer or seller have an advocate, and the main motivation is to put together a deal. Unfortunately, this arrangement only benefits the real estate person. In this set-up, the agent still gets paid the same commission that would have been available to them under an agency agreement. The only difference is that the parties lose their advocates.
And then there’s what we call Exclusive Buyers Agent” (EBA). Alta is an EBA who only serves buyers and takes no listings. This helps eliminate all sorts of conflict in a real estate negotiation.
What Does an Exclusive Buyer Agent Do To Protect Her Buyers?
“I promise to be there all the time whenever they need me. I (will) use my expertise and my many years of experience to help and guide them through really finding a property.”-Alta Drumm
Alta and some very distinguished buyer agents agree that not all buyer agents are created the same. Hence, it is imperative to take your time and carefully interview the best agent you can work with. Invest a great deal of time to plan your steps, first of which is reaching out to experts who actually know what they’re doing, early in the process. Undoubtedly, this critical step will already save you from unnecessary troubles.
To give a sense of assurance to her buyers, Alta maintains her warm personality. She shows such a willingness to be with them every step of the way. Not only does she walk buyers through several reports, but she also makes sure that they understand what they are dealing with. She has been in her profession for over 50 years and still happily continues to serve her clients.
Watch and listen to Alta’s full interview detailing how she expertly assists her clients:
Why Get A Buyer Representation?
No amount of money can equal the benefits of having an Exclusive Buyer Agent. For one, they are able to handle overwhelming things with ease during a negotiation. Below are just a summary of the key roles an agent plays in the home buying process:
- Protector. It is a top priority to keep you from all forms of harm and protect your best interests. You need an agent who will be able to anticipate and keep you from a never-ending list of potential risks and deadlines. Hiring experts who will know how to best counter the seller’s requirements is the best protection there is.
- Negotiator. A good buyers agent is an excellent negotiator and is never complacent. Look for an agent who knows about the current trends in the market and all other important matters in a real estate negotiation.
- Advocate. Your agent should always be clear of which position to take at all times, especially during a negotiation. You want an agent whose primary goal is to make sure that the property is worthy of investment. And someone who will negotiate with the best price and terms acceptable to you.
- Representative. Each state offers various ways for consumers to be represented. You can choose the best type of representation according to your needs. Make sure that the agent is fully aware of your preferences regarding the property you’re looking for.
Where Do You Begin?
Alta only had one simple thing to say when asked what buyers need to do to move to Boulder, Colorado – “Call me and let’s work together!”.
“I feel very comfortable working with Alta — always feel like she has my back. She has the years of experience knowledge and integrity to examine the necessary documents thoroughly to fully protect my interests.” – Alta’s Buyer
If you want to meet someone of Alta’s caliber, feel free to contact Buyer Agent Search. For over 20 years it has helped thousands of consumers find the best agents for their home search. You can always take advantage of free consultations and assistance anywhere you are in the United States, Costa Rica and Canada. Simply dial 800-383-7188 or fill out the online form. Who knows? You might have the opportunity to talk directly with Kathleen, an advocate for buyers and a licensed broker herself. Also, don’t forget to check out the many home-buying videos that are available on their YouTube channel. See you there!