Why Work with The Honeywill Team?
Buying a home may be the largest and most complex financial transaction you ever undertake. If you are ready to buy a home, why not work with the most qualified real estate professional you can find?
The Honeywill Team Buyer Representative stands out in the crowd and you can trust that they have the extra edge when it comes to KNOWLEDGE AND EXPERIENCE.
The Honeywill Team are award winning licensed real estate professionals who complete specialized training that gives them the edge in understanding a buyer’s perspective and protecting and promoting their buyer-clients’ interests. Further, they are committed to maintaining their professional edge by staying current on the latest issues and trends in buyer representation.
When you work with us, you’ll be served, not sold. Your interests become our interests, making your home buying experience go as smoothly and successfully as possible.
The Honeywill Team will:
- Understand your specific needs and wants, and locate appropriate properties
- Assist you in determining how much you can afford (pre-qualify your mortgage)
- Preview and/or accompany you in viewing properties
- Advise you in formulating your offer
- Help you develop your negotiating strategy
- Provide a list of qualified vendors (inspectors, attorneys, lenders, etc.) for other services you may need
- Keep track of every detail throughout the transaction, to closing and beyond
Not all buyer’s representatives are equal. You can feel confident that you will receive the highest level of buyer-representation services.
Evolution of Buyer Representation
Even though buyer representation is now largely available to home buyers across the country, it wasn’t always so. As an advocate for home buyers, The Honeywill Team helps buyers receive the same level of representation in real estate transactions that was previously only enjoyed by sellers.
Prior to the introduction of buyer representation (also called buyer agency), only sellers were represented in real estate transactions and received full fiduciary responsibilities from their agent, including loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and accounting.
Buyers were brought into a transaction with assistance from licensees who treated buyers as customers, not clients, because they were acting as agents or sub-agents for the seller.
Buyer representation aims to level the playing field by offering full fiduciary responsibilities to buyers, typically by signing a buyer representation agreement.
5 Reasons to Sign
a Buyer Representation Agreement
If you’ve started looking for a home—and a real estate professional to assist you–your buyer’s representative may ask you to sign a Buyer Representation Agreement. What is this form? Why should you sign it?
A Buyer Representation Agreement is a legal document that formalizes your working relationship with a particular buyer’s representative, detailing what services you are entitled to and what your buyer’s rep expects from you in return. While the language used in the document is formal, homebuyers should view it as an important and helpful tool for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive.
- Receive a higher level of service. If you’ve formalized an agency relationship with a buyer’s rep, you can expect to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services, relative to customers. While the details vary from state to state, and from one buyer’s agent to another, you can generally assume that being a client means that you’ve formed a fiduciary, or agency, relationship with your buyer’s rep.
- Get more without paying more. In almost every case, home sellers have already agreed to pay a buyer’s agent’s commission. If they haven’t, you can ask your buyer’s rep to avoid showing you any such homes. Or you can still view the home, knowing that you’ll need to factor your agent’s commission into any offer you may write. While buyers rarely pay real estate commissions, this is an important detail you’ll want to discuss with your buyer’s rep and clarify in their representation agreement.
- Avoid misunderstandings. A Buyer’s Representation Agreement clarifies expectations, helping you understand what you should and shouldn’t expect from your buyer’s rep, and what they will expect from you, which usually centers on loyalty.
- Agency relationships are based on mutual consent. While most representation agreements specify a time period, they can be terminated early if both parties consent. Most buyer’s reps are willing to end the agreement early if the working relationship isn’t going well. Some buyer’s reps also offer representation agreements for as little as one day, for the purpose of giving both parties a brief trial period to explore working together.
- Strength as a team. When you and your buyer’s rep work together within a formalized agency relationship, you have created a team dedicated to helping you achieve the best possible home-buying experience.