Joel's L&F Website

703-503-1868 (Direct)

800-209-7586, x1868

Joel@Lutkenhouse.com

Definition: A Buyer Representative (sometimes called a Buyer Agent or Buyer Broker) is a real estate professional who represents the best interests of the buyer in a real estate transaction. The Buyer is the Buyer Representative's "Client".

As your Buyer Representative:

• You are my client. I will be an advocate for your interests.
• My primary orientation will be not so much to sell you a property but, rather, to determine your needs. (Perhaps you shouldn't buy; instead, maybe you ought to rent!).
• Therefore, I will conduct a needs assessment to establish not only what's important in the physical property - but also to establish how it fits in with your lifestyle, preferences, long and short term goals.
• My role is to assemble data and make it relevant; to convey knowledge; to create value - that is, to provide service. (Does this property or community offer the services that your family needs in terms of schools, transportation, health services, recreation?).
• I will strongly recommend getting financially pre-approved for a home purchase.
• If you desire, I will provide names of financial institutions/loan officers who I deem to offer competitive interest rates and reliable service.
• We will discuss and establish any constraints or restrictions that may affect your house search or subsequent bargaining position.
• Personal information given to me in confidence will remain confidential - and will not be divulged without your express permission.
• Our relationship will be established in writing with a Buyer Agency Agreement.
• I can offer a broader selection of housing alternatives. Properties to be considered will not be limited to the Multiple Listing System (MLS), but may include new homes, for-sale-by-owners (FSBOs), government or bank foreclosed properties, and properties that are about to come on the market.
• In addition to strengths, I will aggressively point out potential weaknesses or criticisms of properties under consideration.
• Prior to initiating a contract to purchase, I will prepare a comparative market analysis (CMA) for the target property - in order to estimate its fair market value.
• I will explain, in detail, the Residential Sales Contract - including any provisions or addendums required by State or Federal government.
• I will suggest a strategy/provide advice on constructing an offer to buy. An appropriate offer is not necessarily a "low-ball" offer; depending on circumstances (e.g. Is it a Seller's market? Is the property in exceptional condition? Does it meet your unique requirements?), the appropriate offer might call for List Price or better. I will negotiate your contract for your best interests.
• I will insist on conducting a Professional Home Inspection. If you desire, I will provide names of home inspectors that I deem highly competent for the task.
• Similarly, if other inspections are appropriate (e.g. RADON, lead-based paint), I will provide names of potential inspection firms.
• As it is usually the Purchaser's choice to select a Closing Agent, if desired, I will offer the names of several attorneys or Title Companies that I know offer professional service.
• I will provide follow-up for all aspects of the process - keeping in constant communication with all parties to assure action items are performed in a timely manner.
• We will conduct a final walk-through of the property, once the Seller has removed personal possessions. This is to establish that all contractual/repair items have been completed.

               Return to Top of Page