Buying a Home in Salt Lake City, UT

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Helping Clients Buy FSBO - Who Is My Client? (WIM-C)

I just read a great blog entry by Ki Gray (a Realtor(R) in Austin) about why he as a listing agent prefers to work with Buyer's who have a Buyer's Agent.

I have to say, that as an agent who works ONLY with Buyers, I, too, prefer to work with SELLERS who have a Listing Agent.

I have over the years helped a number of clients purchase FSBOs. I don't actually have any problems doing it, but I often find myself asking my client if they would like me to relay information to the Seller regarding a contract deadline they are going to miss, or asking my client if they would like me to provide a form that the Seller needs to the Seller. I explain that in some instances it might be better to let the Seller miss a deadline. In other cases, if the Seller misses a deadline, it could interfere or interrupt my client's side of the transaction as well. It may delay evaluations, inspections, the appraisal. It may breach the contract.

As an agent for only the Buyer, I discuss these situations with my client and let them direct me as to how to perform on their behalf. Things work out well.

Still, there is something that makes me feel better about getting my clients a particularly great deal on a home knowing that the other party had full representation. 

Just as I feel it is unfair for a Buyer to go through a real estate transaction unrepresented, I feel the same about a Seller doing the same. Still, if I am in the midst of a transaction, my duty is to my client, and I don't let that escape me. After all, the difference is that many Sellers CHOOSE to go through a transaction unrepresented, while many Buyers do so unknowingly, or perhaps thinking that the listing agent will represent them.

If you are thinking about moving to the Salt Lake City area, make sure you get an Agent on YOUR side! 

Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Area. We do not list any homes. We never represent Sellers.

We work for BUYERS ONLY on the Buyer's side of the transaction.

We work to get BUYERS the Best Price and Terms when they Buy...

We're "The Real Estate Agents on the Buyer's Side" TMreal estate agents on the buyers side

If you have excellent credit and are thinking about buying a $250,000-$500,000 home in the Salt Lake area in the next 60-90 days, call us at (801) 969-8989 or contact us via the link on this page.

©2008 Homebuyer Representation, Inc. All Rights Reserved

Comments

You made the point; Sellers CHOOSE to go through the transaction, on their own.  Your fiduciary duty is to your client, the buyer.  The unrepresented sellers have taken on the responsibility of negotiating their own deal. However, helping the sellers navigate the paperwork and meet deadlines may help the transaction move along smoothly.  In that case, you are still looking out for the best interests of your buyer.
Posted by Marilyn Katz - ABR, e-PRO - WestportCTProperties.com (The Heddings Property Group, LLC) about 4 years ago
Benjamin-Another great post (apparently it was posted twice-I'm experiencing problems with the AR site). FSBOs are a real pain and frequently you end up doing the work for both sides just to get the deal done. However in, Illinois, we would present the seller with a notice of no agency that clearly states that we represent the buyer. You do have more work to do but don't let the buyer think you are representing them in any way.
Posted by Rich Quigley ABR, CRS, GRI (Richard J Quigley) about 4 years ago

This is a tricky type of transaction, but it sounds like you handle them well.  Whenever I meet a BUBBA (buyer unrepresnted by buyers agent) that wants to see one of my listings, I do try to let them know that, should they be interested in writing an offer, I have many agents that I know that would be willing to help him put together and offer and represent them.

04/06/2008 09:44 AM by Chris Ann Cleland

Posted by Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT (Homebuyer Representation, Inc.) about 4 years ago
Sorry Chris - AR Double posted and I combined the two. I've put in a complaint work order with Bob.
Posted by Benjamin Clark - Exclusive BUYER'S AGENT - Certified Negotiation Expert - SLC, UT (Homebuyer Representation, Inc.) about 4 years ago

Benjamin,

you are right, it is uncomfortable to have unrepresented either a buyer or a seller in the other side of a transaction but many of them choose to go that route to save a buck. All we can do is advice them to get representation and look for the best interest of our clients.

Posted by Cowlitz County Real Estate Agent Venancio Gonzalez (Windermere Kelso/Longview) about 4 years ago

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