Buyers Broker in Portland
What is a Buyers Broker? Good question. In the Portland real estate market (including the entire Portland Metro area) a Buyers Broker is a licensed real estate agent who represents BUYERS in their purchase of real estate.
Myth #1 About Using A Buyers Broker in Portland – I Don’t Need One!
For some home buyers looking at homes for sale on the Internet, they believe that this is all a Buyers Broker in Portland will do. This is one part of the services a Buyers Broker provides to home buyers, but certainly not all there is.
With more than 90% of home buyers looking for homes on the Internet, the desire to get the best deal is natural. If a home buyer is not looking at homes on a Buyers Broker site, chances are they are looking at listings that are stale: SOLD, PENDING, WITHDRAWN, CANCELLED.
TRUTH: The majority of sites that have listings are NOT maintained or monitored by the Buyers Brokers local multiple listing board. Even the big search sites (such as Zillow, Trulia, etc.) do not have policies or guidelines in place. As such, there are listings which appear to be FOR SALE, but are not.
SOLUTION: Have your Buyers Broker send you listings . . . or . . . search for homes for sale on their site. In the Portland OR area, the listings I carry on my website are accurate, up-to-date, and home buyers are not going to get misleading or inaccurate information.
Related: Have Your Realtor® Do It!
Myth #2 About Using A Buyers Broker In Portland – I’ll Get A Better Deal Using the Listing Agent!
Unfortunately, there are still home buyers who believe that all real estate agents are the same. They believe that if they go directly to the listing agent, rather than having their own Buyers Broker, they will have some sort of leg up in getting the best terms, conditions and price.
TRUTH: The listing agent has a pre-existing relationship established with the owners/sellers. The listing agent is under contract and is in a FIDUCIARY RELATIONSHIP with the owners/sellers of the property you’re interested in. The listing agent has NO DUTY to you. If buyers want to work with the listing agent and not have their own Buyers Broker, they will NOT have full representation in the transaction. In Oregon, this set-up is known as a “Disclosed LIMITED Agent” . . . why would anyone want to have a LIMITED agent? The real estate agent with two principals in the same transaction (i.e., Buyer and Seller) are “limited” by Oregon statute. They CAN NOT represent, or promote one principal’s interest over another. They CAN NOT negotiate for the Buyer, provide offer strategies, make recommendations on how to structure an offer to the Buyers best interest, run comps of like-properties in order to recommend an offer price, perform Buyer Broker services, among other things.
SOLUTION: Have your Buyers Broker work for you and in YOUR best interests! When a Buyers Broker in Portland OR is representing their clients — the BUYERS — they will look out for the Buyers’ best interests and act in a Fiduciary position.
Related: If You’re a Buyer . . . Why Aren’t You Using a Buyer’s Agent?
Are Buyers Brokers in Portland Expensive?
The majority of Buyers Brokers in Portland provide FREE services to their Buyer clients. The Buyers Broker in Portland OR receives a commission from the co-op fee split arrangement with the listing brokerage.
——————> Having a Buyers Broker is a FREE Service / No Cost to Buyers! <—————-
Feel free to contact me directly. I’d be happy to talk to you how you can have your own BUYERS BROKER while looking for homes in the Portland OR Metro real estate market. The services are FREE!!!