Peter Powers, Broker - Your Resource for Luxury Real Estate Toronto

What is Buyer Agency?

 

A buyer's agency agreement puts in writing that I am working for you and putting your interests before all customers and even my own interests.  Through the agreement I am giving you a guarantee that I will do everything that is required by you to find you the home you want to buy.  

Agency is the highest level of representation and consists of certain fiduciary duties:

Obedience:
As your agent, I must obey your instructions to the letter of the law and in accordance with the contract.

 

Loyalty:
I must be loyal and keep your best interests ahead of those of any other party, including myself. Though confidentiality is discussed separately, it is also a
component of the loyalty piece. Disclosing anything without your express consent would not be in keeping with this loyalty requirement.

 

Disclosure:
The law requires a real estate agent in a buyer agency to disclose material facts to their client. Material facts are those that, if known by the buyer, might have
caused them to change their negotiating and purchase actions.

 

Confidentiality:
My fiduciary duty of confidentiality means that I do not disclose anything that I've learned about you, your business, financial or personal affairs or motivations. This
duty survives closing and lasts forever.

 

Accounting:
Accounting for all documents and funds in the transaction is a fiduciary duty. Accurate reporting of the whereabouts of all monies pertaining to the transaction and
their ultimate disposition is a fiduciary responsibility.

 

Reasonable Care:
As a licensed real estate professional, I will advise and guide you through the process without harm. I will advise on price, inspections, negotiations, repairs and many other facets of the transaction. If it is not something I am expected to know, I will advise you on how to get the information.

 

As an experienced real estate professional I know my fiduciary duties thoroughly and perform them diligently. I will be so bold as to say that not offering a buyer
representation agreement indicates a lower level of professionalism at the least.

 

As a realtor, I am constantly making judgement calls as to whether one activity has more value than another.  Since time is my most valuable asset, every activity must be seen as expense.  So, if a customer and a client both call to look at properties, the client will be given priority to the customer.  Why? Because the client has stated in writing that they are going to buy real estate through me and therefore I know that when my job is done correctly, and the appropriate home exists, then a commission will be earned.  So my sole emphasis becomes providing the highest level of service.

 

Full Representation with No Loyalty to Home Sellers or Listing Agents- Because of my 100% loyalty to you, my Buyer Client, I do not need to look out for the best
interests of the Seller whatsoever. I do not have a reason or motivation to "sell" one house over another. My job is to get YOU - the Home Buyer, into the best home for the least amount of money and hassle possible. The Sellers' Agents' wants and needs have nothing to do with the level of service provided by me to you. The only duty that the listing agent has to an unrepresented Buyer is to not lie to you. That is it. They owe nothing else to you. They are not on your side. When you arm your self with my Buyer's Agency, you will have me working hard for YOU at every point in the home buying process.

 

Great Knowledge of the Market- I know "what is out there". I spend a considerable portion of my time looking at houses and fully understand what is available and where all the good deals are. I set appointments and viewing hundreds of homes every month. In many cases, I have already seen a home that you may be interested in, and can share with you many details before you even go inside!

 

Access to ALL Available Properties- I have access to every home that is for sale, the minute it becomes available, and have no loyalty to one listing agent or company over another.  I will leave no stone unturned when finding the perfect home for you, my Buyer Client. I am constantly reviewing the MLS and FSBO web sites for homes that match my clients search criteria as well as communicating with agents in my brokerage and network who may be preparing a house for sale or who may have a house for sale that the seller did not want exposed on the MLS system. Most importantly, I can tip you off to properties before they hit the market because when I have a focused knowledge of my client's needs, I will canvas that preferred area to present you with the unique opportunity of being the
first person to know about, view and submit an offer on a property as sometimes a selleris willing to entertain an offer and sell a property in a one shot situation but not willing to go through all the steps of preparing for and entering the MLS system. This gives you the key advantage over other buyers competing with you for the same home. There is nothing more frustrating than finding out too late about a home that would be perfect for you. I work tirelessly to find the right home for you.

Effective Negotiating Skills and Contract Knowledge - I am an effective negotiator, as one main part of my job is to write solid offers that get you, my Buyer Client in the best possible situation. I negotiate and write contracts for a living and know all the tips and tricks to use and avoid when dealing with different listing agents and sellers. I thoroughly understand all the details of a Buy-Sell Contract, and am able to explain and walk through the entire contract, disclosures and any counter offers to you in a way that actually makes sense making sure that it all works out in YOUR BEST INTEREST. Furthermore, I can help you find competent lenders, home inspectors, landscapers and anyone else that you, a future homeowner, may need, once you find a home that you want to buy. Now here's the icing on the
cake: in most cases, my representation will cost you nothing - It's FREE! The compensation that I receive is built into the selling costs paid by the Seller at the time of closing.

 

With all this waiting to make your home purchasing experience the best ever, how could you
not consider talking Buyer Agency with me?

Peter Powers, Broker.
Royal LePage Real Estate Services Ltd., Johnston & Daniel Division, Brokerage
 
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