As we head into a new year, we all make resolutions about learning more in the areas of importance in our lives and improving relationships. With that in mind, Bill Carroll of Hampton One Real Estate Group shares his insights into the power of building a relationship with a buyer’s agent so you can improve your chances of getting the most out of your search for a home in the Hamptons in 2012.
Last month you pointed out that by using a buyer’s representative, a buyer would receive “a greater level of service” than if they purchased through an agent who represents the seller. What specifically is the end gain of that better service?
The goal of an agent who acts in the buyer’s best interest is threefold—to search for and locate the home that most closely fits their clients wants and needs, to diligently research and disclose all information regarding that home and it’s property, and to negotiate the lowest price possible to ensure the buyer is getting the best possible value.
How is that best accomplished?
Two words—trust and teamwork. You see, because a buyer’s agent’s full fiduciary obligation is to their buyer client, the relationship between the two parties is one that is built on trust. When there is trust, there can be a free flow of communication and information. This creates a true atmosphere of teamwork. I believe that this is one of if not the most important factors in a successful purchase.
So is there a specific way to achieve these goals?
I can tell you that at Hampton One, we have a specific technique, a game plan, if you will, that ensures great results every time. Here’s a brief outline:
1) EDUCATE our buyer clients on all things real estate in the Hamptons. The days of keeping buyers in the dark are over. At least they are when one works with a buyer’s agent. In order to make sound decisions, all the information, not just some, is needed. Real Estate is local and every market has its nuances, things that affect a property’s value in either direction. That is especially true in the Hamptons. We consider it our duty to share all our expertise with our clients.
2) LOCATE and EVALUATE the exact home that best suits our buyer client’s needs and wants. Unlike an agent who represents a seller, there is no one property that is more important for us to sell than any other. Our time table only mirrors that of our client. We are happy to show any and all homes available. Once we do find a property of interest, we look at it from all angles, both positive and negative; to make sure it has proper value now, and in the future.
3) NEGOTIATE the best price and terms possible for that home. Remember—I’m working for the buyer—and that means first and foremost making sure my client is not overpaying. Moreover, my goal is to negotiate the best price possible, so that true value in today’s market is assured. To accomplish this, we look at and compare all “like” homes for sale in the area to see if the asking price is within reason. We then research all the recent sales of comparable homes to establish a true market value. From there, well, from there it’s game on.
Sounds like a plan. Are there any other benefits to working with a buyer’s agent?
One of the intangible benefits of working with a buyer’s agent is peace of mind. Knowing one has a local expert who is there to advise, consult, facilitate, and protect one’s interest throughout the entire process is, like they say on TV, “priceless.”
If you have questions for Bill Carroll at Hampton One Real Estate Group, where buyer clients never pay anything additional for their service, you can contact him at (631) 241-8168 or by email at [email protected]