Exclusive Buyer Agent Services

NJHomeBuyer

2006-11-01T08:05:00.000-05:00

What is a 'DUAL AGENT": Why should you care?
This should be well known by now it is so simple but the Real Estate industry, in general, doesn't want you to know.

It is this:

A homeowner wants to sell their home.
They contact a listing company and sign a"listing agreement" with them.
The listing agreement obligates the listing company to market the home and obtain the listing price or the best price possible from a buyer.
The listing company puts a sign in front of the house and puts it on the mls and internet and markets the home.

A potential buyer comes along having seen the sign or otherwise finding the house is for sale.
The buyer calls the number provided on the marketing material from the listing company and indicates they are interested and want to see it.
----Here is where the buyer often doesn't get what is going on----------
An agent from the listing company shows them the home. (generally goes with them and looks around -almost never will look for condition problems that are not obvious). REMEMBER: the listing company's job is to market and sell the house at the listing price FOR THE SELLER.

The buyer likes the house and wants it. How much can they get the seller to reduce the price? The listing company (and their agents) are working for the seller and so will not tell them that..but may give them some information about what other homes in the area have sold for.
The listing company is not going to suggest to the buyer how to get the lowest price... they have a contract with the seller.
You make an offer and it is accepted.

You arrange for a home inspection. The inspector (hopefully a qualified inspector-did the seller's agent provide the inspector?), finds a number of issues.
You get a copy of the report but don't understand all of it or what you might get the seller to correct or give you a credit for.
Again, the listing company is not going to suggest that you be aggressive in asking for seller concessions (they are working for the seller ).

The listing company is a "DUAL AGENT". They are working for 2 parties in a transaction that have conflicting interests.

All real estate agents in NJ are obligated to explain how they are working with you before you get into a discussion with them about your motivations or show them homes. The state of NJ even came up with a form called a "Consumer Information Statement", that the agent is supposed to give to you, explain, and tell you if there is potential for them to be a dual agent. Even those who do may downplay the effect of dual agency on their ability to help you negotiate a lower price or other terms.

NJ has tried to ensure that NJHomeBuyer's are informed and understand the impact that your agent's ability to negotiate on your behalf is directly tied to whether or not their company listed the home. The typical NJHomeBuyer is often not given the information they need to understand the effect using the listing company to purchase their home can have on their final purchase price and terms. That is why NJHomeBuyer.com Realty exists.

NJHomeBuyer.com Realty never lists homes and so avoids the potential for dual agency that companies that list cannot avoid.

Paul Howard, Broker
NJHomeBuyer.com Realty 856-488-8444

NJHomeBuyer

2006-11-01T07:58:00.001-05:00

What is a 'DUAL AGENT": Why should you care?
This should be well known by now it is so simple but the Real Estate industry, in general, doesn't want you to know.

It is this:

A homeowner wants to sell their home.
They contact a listing company and sign a"listing agreement" with them.
The listing agreement obligates the listing company to market the home and obtain the listing price or the best price possible from a buyer.
The listing company puts a sign in front of the house and puts it on the mls and internet and markets the home.

A potential buyer come along having seen the sign or otherwise finding the house is for sale.
The buyer calls the number provided on the marketing material from the listing company and indicates they are interested and want to see it.
----Here is where the buyer often doesn't get what is going on----------
An agent from the listing company shows them the home. (generally goes with them and looks around -almost never will look for conditions problems that are not obvious). REMEMBER: the listing company's job is to market and sell the house at the listing price.

The buyer likes the house and wants it. How much can they get the seller to reduce the price? The listing company (and their agents) are working for the seller and so will not tell them that..but may give them some information about what other homes in the area have sold for.
The listing company is not going to suggest that you make a low initial offer ... they have a contract with the seller.
You make an offer and it is accepted.

You arrange for a home inspection. The inspector (hopefully a qualified inspector), finds a number of issues.
You get a copy of the report but don't understand all of it or what typically you might get the seller to correct or give you a credit for.
Again, the listing company is not going to suggest that you be aggressive in asking for seller concessions (they are working for the seller too).

The listing company is a "DUAL AGENT". They are working for 2 parties in a transaction that have conflicting interests.

All real estate agents in NJ are obligated to explain how they are working with you before you get into a discussion with them about your motivations or show them homes. The state of NJ even came up with a form called a "Consumer Information Statement", that they agent is supposed to give to you, explain and tell you if their is potential for them to be a dual agent. Even those who do may downplay the effect of dual agency on their ability to help you negotiate a lower price or other terms.

NJ has tried to ensure that NJHomeBuyer's are informed and understand the impact that your agent's ability to negotiate on your behalf is directly tied to whether or not their company listed the home. The typical NJHomeBuyer is often not given the information they need to understand the effect using the listing company to purchase their home can have on their final purchase price and terms. That is why NJHomeBuyer.com Realty exists.

NJHomeBuyer.com Realty never lists homes and so avoids the potential for dual agency that companies that list cannot afford.

Paul Howard, Broker
NJHomeBuyer.com Realty 856-488-8444

NJHomeBuyer

2006-11-01T07:58:00.000-05:00

What is a 'DUAL AGENT": Why you should care?

This should be well known by now it is so simple but the Real Estate industry, in general, doesn't want you to know.

It is this:

A homeowner wants to sell their home.
They contact a listing company and sign a"listing agreement" with them.
The listing agreement obligates the listing company to market the home and obtain the listing price or the best price possible from a buyer.
The listing company puts a sign in front of the house and puts it on the mls and internet and markets the home.

A potential buyer come along having seen the sign or otherwise finding the house is for sale.
The buyer calls the number provided on the marketing material from the listing company and indicates they are interested and want to see it.
----Here is where the buyer often doesn't get what is going on----------
An agent from the listing company shows them the home. (generally goes with them and looks around -almost never will look for conditions problems that are not obvious). REMEMBER: the listing company's job is to market and sell the house at the listing price.

The buyer likes the house and wants it. How much can they get the seller to reduce the price? The listing company (and their agents) are working for the seller and so will not tell them that..but may give them some information about what other homes in the area have sold for.
The listing company is not going to suggest that you make a low initial offer ... they have a contract with the seller.
You make an offer and it is accepted.

You arrange for a home inspection. The inspector (hopefully a qualified inspector), finds a number of issues.
You get a copy of the report but don't understand all of it or what typically you might get the seller to correct or give you a credit for.
Again, the listing company is not going to suggest that you be aggressive in asking for seller concessions (they are working for the seller too).

The listing company is a "DUAL AGENT". They are working for 2 parties in a transaction that have conflicting interests.

All real estate agents in NJ are obligated to explain how they are working with you before you get into a discussion with them about your motivations or show them homes. The state of NJ even came up with a form called a "Consumer Information Statement", that they agent is supposed to give to you, explain and tell you if their is potential for them to be a dual agent. Even those who do may downplay the effect of dual agency on their ability to help you negotiate a lower price or other terms.

NJ has tried to ensure that NJHomeBuyer's are informed and understand the impact that your agent's ability to negotiate on your behalf is directly tied to whether or not their company listed the home. The typical NJHomeBuyer is often not given the information they need to understand the effect using the listing company to purchase their home can have on their final purchase price and terms. That is why NJHomeBuyer.com Realty exists.

NJHomeBuyer.com Realty never lists homes and so avoids the potential for dual agency that companies that list cannot afford.

Paul Howard, Broker
NJHomeBuyer.com Realty 856-488-8444

NJHomeBuyer

2006-10-19T10:53:00.000-04:00

Going through a homes for sale magazine I saw several references to "Top Producers". The implication is that you should find a Realtor who is a "Top Producer". You can find lots of them, of course, especially at the big franchise companies. You know - ReMax, Long and Foster, Weichert, etc. But why would you want to. The term means they may SELL a lot of homes. Think about it. Why would you want a "Top Producer" to work 'with' you when purchasing a home? They are scrambling for listings and buyers at the same time. They list homes then look for buyers to purchase them. That is their job because they are working for the seller.

Instead of a "Top Producer" shouldn't you look for a Quality Producer. One that will consistently work in your interest. One that will seriously help you find and evaluate options. One that will look for more homes. One that will keep your confidence. One that you can always trust to work in your interest. You will not find that with the big franchise companies because they try to serve two masters with conflicting interests.

NJHomeBuyer.com Realty's agents are "Quality Producers". -- Paul Howard, Broker 856-488-8444

Buy a home for less than $1000 out of pocket

2006-10-02T21:17:00.000-04:00

Yes. It is true. If you have a steady income, good credit, and savings of $1000 you can buy a home you can afford. I know how and I can help you do it. Start by calling for an appointment. In less than 2 months you could be moving in.

856-488-8444

Agent Commission - Seller Credit

2006-10-02T11:54:00.000-04:00

OK, so you know that the seller pays the fee - It gets even better if you have signed a buyer representation agreement with NJHomeBuyer.com Realty. The fee the seller pays us is 3% of the purchase price. Sometimes though they offer more than that (or even a bonus). I got to thinking about that when I got a fax this morning from a local real estate office advertising that the seller will pay a $3000 bonus. This is the good part. For buyers that we have an agreement to represent we will waive the bonus so you can ask for it as a seller closing cost concession at settlement.

Call today to set up an appointment to meet with an agent at NJHomeBuyer.com Realty in Cherry Hill.
856-488-8444

NJHomeBuyer.com Realty: NO FEE

2006-09-26T16:25:00.000-04:00

Well, I hate to say it but I have to start on getting the message across. I'm not real good at advertising but if I don't lots of folks won't know I am here. I think the following helps to clarify my services and explain (a little) why we are better. I have a ways to go but this is a start:

One Realtor for access to ALL homes and buyer pays NO fee.

The BEST home search site is for clients of NJHomeBuyer.com Realty - and NO fee. Really!

Compare our services with our competitors such as REMAX, C21, Weichert, Foxtons etc. We are better.

Our search site is better and we offer better representation for home buyers - and NO fee.

We are ALWAYS on your side from the beginning to moving day - and NO fee.

This may sound to good to be true - but it is true. Exclusive buyer representation is not just for buyers of $500,000 plus priced homes. Any buyer of any home can have full representation – and NO fee by calling NJHomeBuyer.com Realty.

Searching for Homes and Virtual Office Websites

2006-09-21T13:37:00.000-04:00

To gain access to the VOW you have to give your name and e-mail address. It is good if you give a phone number but at this point that is optional. If you leave a number no one is going to bug you but you will get a call offering assistance and suggestions in using the site. The registration will eventually expire but it will be extended if you ask. You can ask by email (the link is provided) but you may be asked to call for the extension if I have never talked with you. There are (at least) 2 reasons for this. 1-no other Realtor site is as advanced or as comprehensive as this one and it is for our clients or those who at some point expect to purchase a home through NJHomeBuyer.com Realty. 2- I do not want other Realtors using it because they are my competitors. If they want to use a site like this they can put out the money for it. 3-I don't want buyers using it that intend to purchase a home through one of my compeitiors (REMAX, C-21, Long & Foster, Weichert, etc). I can provide better services for a buyer than they can, I can guarantee that I will always work entirely for the buyer (not the seller or as a dual agent), and they cannot make this guarantee. My VOW website is better with more information than theirs. Why should I let their buyers use my services. You get the point. If you have questions feel free to call me any time. I have one telephone number, 856-488-8444, that rings all my phones (office, cell, home).

Mortgage Lenders - how to deal.

2006-09-19T16:11:00.000-04:00

Mortgage Lenders:
Choosing a lender may seem to be a matter of just checking the rates and closing costs. It isn't. The competency of your loan officer matters. A lot of people got into the business in the last 2 or 3 years while business was booming EVERYBODY was busy. A lot of those new 'loan officers' though know very little about the multitude of financing options available. They will say "Sure we do FHA and conventional too". Not only that but the house you choose may have an effect on what mortgage product is best. The lender should tell you how much you are permitted to receive in seller assistance (*if you can get it). Generally 3% of the purchase price is the limit for conventional loans and 6% for FHA. But not always and there can be restrictions. The loan officer's knowledge and ability to communicate with your Realtor may make a HUGE difference in the cost of your loan. One reason the house matters is because if it needs work you may be very well served by using a lender that will do a 203k streamline. Most of them don't know what it is and if they do - can't do it because they don't know what to do with it if they have one.

* Your Realtor must know how to apply the mortgage company restrictions in coordinating your offers, requests for seller's assist and (potentially) home inspection repair credits to the permitted seller assist amount. An exclusive buyer's agent can help you A LOT. This is just the tip of the iceberg. If you want to know more and you are in the market for a home in South Jersey call me. Paul Howard 856-488-8444

Offers

2006-09-14T23:02:00.000-04:00

House hunters again. You know, they saw 3 houses they liked - but they only made an offer on one of them...thats ok...but the agent never suggested to them that they could make nonbinding offers on 2 of them or all 3. Why not? They said there were "3 good options". So why not 3 offers. If they are all accepted they just take the best one.

NJHomeBuyer

2006-09-11T20:23:00.000-04:00

Home Staging

House Hunters is on HGTV again. I keep waiting for them to try to discover SOMETHING that is not evident about the condition. Most Realtors though are pretty passive. They are not proactive in helping the buyers they are taking to the houses. Many Realtors are no more than a tour guide. I always wonder when I watch this why they never mention a home inspection or negotiating for repairs with the seller. Most buyers with a typical agent are on their own there. Especially if the agent's company listed the home.

Now they have a listing agent there telling the seller how to "stage" their home. (Google "home staging"). Everyone should make their home look it best but sometimes 'staging' is used to draw attention away from defects. An exclusive buyers agent can be objective and look past the staging. A buyer should try to visualize their furnishings in the home. The other side is the agent may be able to help them see possibilities in a home that is not staged. Look past the staging - but also look past the unstaged (there might be a deal there).

Interesting numbers

2006-09-07T14:00:00.000-04:00

From August 1,2005 to August 31, 2005 there were around 819 listed homes sold in Burlington County.
From August 1,2006 to August 31, 2006 there were around 646 listed homes sold in Burlington County.

Did you know there are around 27,000 members of TREND in the service area of TREND. (which covers parts of South Jersey, Pennsylvania, and Delaware)

This information is from TRENDMLS.

The best place to go in South Jersey to find a Buyer's Agent is: NJHomeBuyer.com - (exclusive buyers agents)

Finding a buyer's agent.

2006-09-02T13:19:00.000-04:00

I was just surfing a bit and came across a REMAX web site.
The banner at the top said, in part, "Your Exclusive Buyer's Agent...". Now I am familiar with the company involved and they have a good reputation. HOWEVER, the statement that they are your exclusive buyer's agent is misleading at best. Any agent can be a buyer's agent if they don't show you any homes their company has listed. But "Exclusive". This term means that there is no potential for dual agency. A dual agent is specifically NOT a buyer's agent. REMAX offices all list homes - after all the conventional wisdom in the industry is "the money is in the listings". When they take a listing they have a contract (called a listing agreement) under which they work in the best interests of the seller unless they disclose to all that they are working for both sides - a dual agent. A dual agent works for both sides - not in the best interest of either.

There is ONE way to find out if your agent will be an EXCLUSIVE buyer's agent: Ask if their company takes listings or ever works for home sellers. If they answer yes - you have not found an exclusive buyer's agent. Note that it does not matter if they or someone else listed the property...it only matters if their company did.

To find an Exclusive Buyer's Agent find someone, such as NJHomeBuyer.com Realty, that qualifies for membership in NAEBA (the National Association of Exclusive Buyer's Agents).

Looking at homes

2006-09-01T19:47:00.000-04:00

I'm watching Home and Garden TV right now. I've watched before a few times. They dwell on the space and layout and sometimes note obvious (usually cosmetic) defects. I'd like to know what condition the roof is in, and the furnace, and electric service. And the concrete, did you see that slab they were standing on looking at the pool. (The pool WAS cool) But PLEASE - use a check list to note the pros and cons. What about the grading around the house that could be the cause of water in a basement. Don't you think you would want to know about those things BEFORE you get into a contract....sure you will have a home inspection but it is better if there are as few surprises at that point as possible. Besides, conditions will play a part in creating your offer.

Space is important sure. But don't you want your agent to tell you basic things like - is the furnace 'high efficiency'. How about the hot water heater. Are there signs of a current or prior underground oil tank. Another thing, those houses are the most brightly lit homes I've ever seen. In reality most homes have dark corners. You DO want to be able to see into the crawl space to check for water don't you. Or look around the basement, if there is one, to see obvious signs of termite activity or damage. Its ok (sometimes a very good thing) to buy a home "AS IS". The trick is to know what "AS IS" is, before you can't turn back.

I know... there are Realtors (a lot of them) out there that either don't know these things or think they will get you into a contract and hope it doesn't blow up at the time of home inspection.
I'm not one of them!
---Paul----

Homes on the market

2006-09-01T11:24:00.000-04:00

As of today there are over 3400 active residential listings on the market in Camden county:

about 3040 are priced under $400,000
about 1247 are priced under $200,000.

Some of these have been on the market for a while and the sellers are "motivated". Some have been on the market for a while because the sellers STILL think they are going to get top dollar. If they have a home in excellent condition in a top notch neighborhood they might - otherwise they better be willing to deal.

Buyer's Market

2006-09-01T06:46:00.000-04:00

NJHomeBuyer

Some signs of a "buyer's market":
Homes stay on the market longer - yes it is happening!
Seller's are more negotiable.
Fewer properties receive multiple offers.
Seller's agents actually call agents that have shown their listings for feedback.

------Seller's aren't giving them away - far from it - but buyer's are MUCH less frusturated this year than last. ------ There are some good deals out there.

Government Homes

2006-08-29T21:23:00.000-04:00

The current HUD list of government homes (including inspection reports and photos) can be viewed at:

Government Homes

Comparing Real Estate Companies

2006-08-28T06:58:00.000-04:00

Compare Real Estate companies How much difference is there REALLY, between real estate companies. To a consumer does it matter whether you go with a REMAX or a Century 21 franchise company (they both have a lot of market power but does that do you any good?). How about a smaller local company with a specialty niche market.

The answer may depend on whether you are a home BUYER or a home SELLER.

Buyers don't have anything to market. They are the ones that are "marketed" to.

Buyers generally need a company and agent that can get answers to questions the buyers needs to make a wise purchase, a 'good' deal. The 'right' choice. The agent has to be willing and able (knowledgeable) to ask the questions and get the answers. Buyers all have questions they want answered. Few buyers know all of the questions they should find out the answers to. An exclusive buyers' agent can help. Exclusive buyers' agents do not work for REMAX and Century 21 and Weichert etc. They can't because those offices are representing the interests of home SELLERS and even if they happen to be good enough to know the questions to ask - they may not. After all, they are working in the interests of the seller's they represent.

NJHomeBuyer.com Realty is a small local real estate business specializing EXCLUSIVELY in representing home buyers - asking the questions that need to be asked.

HomeBuyerHomeSearch.com

Paul Howard, Broker, NJHomeBuyer.com Realty