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Exclusive Buyer Agency Fees
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| by Adirondack Country Homes Realty Inc. |
Compliments of ACHR |
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Exclusive Buyer Agents are compensated as any other Realtor and Real Estate Agent. Agents are paid through the proceeds of the sale as part of the transaction costs. Customarily, fees for real estate brokerage, legal fees, recording fees, appropriate taxes and court expenses have been “built in” to the purchase price of the property. The question is this: Do you want to pay to have someone work FOR you or OPPOSING you? When a home sells, a percentage of the commission is paid to the real estate company that brings in the Buyer and the balance is kept by the real estate company listing the property for sale, representing the Seller. The buyer's agent fee is collected by ACHR as payment for services rendered to you. An initial deposit fee of $350 is charged on all applicants completing the "Exclusive Buyer Contract." This fee is refundable at the time of closing only. Additional arrangements can be made for investigating non-listed properties. Discuss this option with your Exclusive Buyer Agent. At ACHR, we have the ability to tap into all the county records for property ownership. The Principal holds memberships in five multiple listing services throughout the Adirondack Park and surrounding communities, and participates with non-MLS brokerage firms/agencies.
"Leave no stone unturned" Euripides quotes Greek playwright, c. 480-406 BC
But when the real estate company who lists the property also brings in the Buyer, that real estate company keeps both the sides of the commission transaction fee. As Exclusive Buyer’s Agent, we see this as a conflict of interest. With one real estate company managing both sides of the transactions; how can both sides be fairly represented? When representing you in a "For Sale by Owner" purchase, the owner of the home is told that our 3% commission will be included in the offer price. Now, you may be thinking the higher the price you pay for the home, the higher our commission will be, so how does this work? We have a fiduciary responsibility to get the home at the best price for you, not the highest commission for ourselves.
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