Posts tagged Buyers

Difference Between Clients and Customers

in Buyers Buyers. Stupid Real Estate Questions - AKA: What are the questions you think you should know but have never asked? on

Question: What’s the difference between a real estate client and a real estate customer?

Answer: Quite a bit.

I was with a a customer a few weeks ago and and we had an interesting conversation about the differences between a customer and a client.

Some basic definitions from the Code of Virginia:

“Customer” means a person who has not entered into a brokerage relationship with a licensee but for whom a licensee performs ministerial acts in a real estate transaction. Unless a licensee enters into a brokerage relationship with such person, it shall be presumed that such person is a customer of the licensee rather than a client.

“Client” means a person who has entered into a brokerage relationship with a licensee.

“Licensee” means real estate brokers and salespersons as defined in Article 1 (§ 54.1-2100 et seq.) of Chapter 21 of this title.

“Ministerial acts” means those routine acts which a licensee can perform for a person which do not involve discretion or the exercise of the licensee’s own judgment. (bolding mine)

If I meet you at one of my listings, I will explain to you that I don’t do single agent dual agency. (Guess who benefits from single agent dual agency?)

 

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Pre-Offer Home Inspections – A GREAT Idea

in Buyers Stupid Real Estate Questions - AKA: What are the questions you think you should know but have never asked? on

Every real estate market is different; this one has brought more pre-offer inspections than I have ever seen (in part because I’m more comfortable suggesting them to my buyer clients). … The home inspection negotiation is often the most emotional, vindictive, painful and difficult periods of the negotiation; a pre-offer inspection removes phase. … Risks : – Even in this market, homes are selling; some are selling with multiple offers and buyers can lose properties if they opt for the pre-offer inspection path – Some sellers don’t want to allow these; they want assurances that a buyer is really committed before allowing a home inspection. … One must evaluate all factors involved, some of which are the buyers, the sellers, the buyers’ agent, the sellers’ agent, the respective companies, the days on market, market activity to name a few …

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Blog Wayback – What is a Buyer’s Broker?

in Buyers Wayback on

My thinking is: I am going to find you the highest quality property that meets your needs for the lowest possible price, and do it in a way that makes this transaction a positive experience for you that you will refer my services to all of your friends and family when they need to satisfy their real estate needs. (I have referred to this in the past as Raving Fan service – JD) As a buyer you should be especially vigilant that your buyer broker is really out there to assist you, and is not just trying to make another sale.

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Buy Local

in Albemarle Buyers Charlottesville dual agency on

We pay Realtor buyer agents commissions on the homes’ final sales price after all upgrades, selections and options are chosen and not pay on a “bogus” base price that is much lower than the final sales price, we love contributing to the Charlottesville area and market by offering a great value and quality product and we offer outstanding warranty, customer service and prompt follow-up. Some do not bank locally, they do not buy building materials locally, they do not us local subcontractors, they require buyers to obtain financing from their out of town lender, they do not like to work with Realtors and make every effort they possibly can to sell to the public directly, they pay Realtors on a “bogus” base price that is always much lower than the final sales price, they have very strict walk through policies as you described in your blog and do not encourage or allow buyer agent participation in the final walk through and offer very very minimum warranty and customer service follow up after sales.

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