Buyer's Agency
Frequently Asked Questions

1. How much will this service cost me, the buyer?
   There are no additional costs to you for this service. Although technically you are hiring the buyer agent, the compensation can and usually does come from the transaction.
   
   
2. Won't I get a better deal if I buy directly from the agent who listed the property?
   No! the listing agent owes their loyalty to the seller and is required by the Notice of Agency Relationship to get the best deal for the seller. The listing agent may and usually does negotiate upward. The buyer agent has an obligation to work on your behalf and negotiates downward. The negotiating process may include price, closing costs, time of possession, repairs, etc.. The buyer's agent works exclusively for you the buyer.
   
   
3. Can any real estate agent be a buyer agent?
   Yes, any West Virginia licensed real estate agent may be a buyer's agent. The agent is required to complete the Notice of Agency Relationship which states whom they are working for. The important word is 'exclusive,' and only a few have made the total commitment to become full time 'exclusive' buyer agents. Bel-Cross Properties does not list homes and turn around and offer to represent buyers. This creates a conflict of interest for both the buyer and seller.
   
   
4. If this is good for the consumer, why aren't all real estate agencies offering exclusive buyer agency?
   Income. Many companies are resisting change because they like the old ways of listing homes and representing the sellers as their clients and the buyers as their customers. This has been their source of income for years. Other companies are changing to meet the demands of the public for representation in the real estate transaction. They offer buyer agency and then switch to dual agency as the need may dictate. We practice exclusive buyer agency as it presents no conflict of interest and we can meet the needs of the buying public.
   
   
5. What is dual agency?
   Briefly, if allowed by state law, dual agency is where the real estate person is representing both the buyer and seller in the same transaction. The agent is trying to serve two masters. Can they give full representation to both? My answer is NO.
   
   
6. The last time I bought a home I thought the agent did a good job. Why should I use a buyer agent now?
   There are good agents everywhere, but unless the agent you mentioned declared in writing to you that they represent only you, that agent could have been the seller's agent. Even worse, the agent could have been an undisclosed dual agent. The real estate industry has tried for years to represent the seller client while working with the buyer customer. For the most part we have done a good job. Required agency disclosure changed all of that. Under West Virginia law one must put in writing using the Notice of Agency Relationship form who they are working for. Once this happened, buyers realized they were not being represented in the real estate transaction and demanded representation. We believe the consumer deserves and should have the opportunity for equal representation, and that is why Bel-Cross Properties practices Buyer Agency.
   
   
7. How does the exclusive buyer agent find real estate to match my needs?
   First, the exclusive buyer agent is not working under any restrictions or conflicts of interest that would direct or influence the search. All property that is currently available on the market (listed) is available via our membership in the multiple listing service. We listen to your needs, wants, desires, and then match you to the product that is available. We locate the best property for you and negotiate the best price and terms on your behalf. Our market area includes property for you and negotiate the best price and terms on your behalf. Our market area includes new construction, for-sale-by-owners, and the properties listed in the multiple listing service.
   
   
8. What other differences can I expect from a buyer agent?
   The hiring of a buyer agent changes the entire home finding process. Unlike a listing agent who is hired to use salesmanship to press the sale of a particular property by selling you on the good points only, the buyer agent will help you discover both the good and bad features of all properties that fit your needs.
   
   A buyer agent will also prepare the contract that offers the buyer client better terms and conditions and will target closing dates that favor the buyer. Since a buyer agent does not represent any seller, the agent will look diligently for a property to suit your needs. The buyer agent makes a whole market your market and will include a for-sale-by-owner or a property not yet on the market. A buyer agent will protect your interests should any problem arise during the property inspections, and will always negotiate in your best interest when there is a need.
   
   
9. I'm convinced, but can a buyer agent list my current home?
   NO! However, you, as our client, may not be a qualified buyer until the home is sold. Therefore, it is in the buyer agency's interest to provide assistance. We provide, as a service, and it is our responsibility to, help you select the best possible real estate firm to market your property. We will refer the listing to the real estate firm you select and assist you in the listing process with that firm. We can even deal directly with the listing agent on your behalf, if you so authorize.
   
   
10. All I want is someone to represent me, why is it so complicated?
    It's really not complicated. If you go into a store to buy a refrigerator, you know that the salesperson works for the store and will obtain the highest price they can get.
    
    A listing agent, and any agent that works for that company, represents the seller because of the contractual agency relationship. Any traditional agent that works for another company may represent the seller as a sub-agent. In either case, they are obligated to get the seller the highest price and terms that benefit the seller not you the buyer.
    
    Many agents are now trying to work both sides of the fence by claiming to be buyer agents but continuing to list homes as a seller agent. They are already representing all the homes listed by their company as a seller agent. Somebody, usually the buyer, will not get full representation. Many times their agents will later try to switch you to a dual agency and try to represent both the buyer and seller. It is too late! This agent already knows all your confidential information. Who will they really represent?

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Buyer's Agency Questionnaires

If you would like further information about our buyer agency services, contact Bel-Cross Properties or complete one of the following questionnaires: