R.H. BLACKBURN & ASSOCIATES, Inc.,
REAL ESTATE
Main office: 17 Broad Street, Kinderhook, NY 12106
518 758-1788
Fax 518 758-6211 blackburn@berk.com
Branch offices at Hudson, Catskill and Athens
For Potential Buyers
For Potential Buyers
If you are a potential buyer and want to know what we will do for
you to find you the right property, here are points you will want
to consider.
You have already been exploring the Internet for a home in the
upper Hudson River Valley. 80% of potential buyers do this in their
search.
1. Nearly all properties for sale can be viewed on the Internet,
either on Multiple Listing Sites or on real estate agency websites.
The dilemma is that there are so many properties and brokers. Where
to begin if you don't know the region or the real estate market
intimately ? Exploring the MLS listing sites (On our websites go
to: All Properties) will show you basic information on nearly all
properties for sale. You can call the listing brokers/agents to ask
questions and make appointments. Or you can search for broker
websites and do the same. At least the principal agency websites
will show up on an internet search, but not most of them because
they have not tuned their websites to be picked up by search
engines. Use the internet to gather ideas about what is available
at what price and in which county.
2. Brokers and their agents would prefer to sell you a house they
have the listing on, that is, they are the exclusive agent for the
seller and stand to earn the full sales commission. Does that help
you the buyer? Not really. The listing agency owes its loyalty to
the seller, not you. They owe you honesty and the disclosure of
facts, but they work for the seller. As in a law suit, you have the
right to have your own counsel by selecting a broker or agent from
another agency to represent you. You can go it alone and many do,
out of confidence or ignorance, but it rarely costs you more to
have your own agent. But out of the hundreds of brokerage agency,
how do you select one?
3. Selecting someone in a real estate agency to be your "buyer's
agent" may come through a personal acquaintance you are comfortable
with, or from someone a friend or professional has recommended. In
either case, check the agency's policies on what they do for
buyers. These can be sent to you or, more likely, they will appear
on the agency's website (such as the page you are on now). If they
don't have a written policy, look elsewhere.
4. There are several advantages to having your own buyer's agent.
Besides owing you loyalty and honesty (remember seller's agents are
essentially in a position of conflict of interest when showing a
property to a buyer), they have a great deal of experience in their
region so they can quickly answer questions such as: In what
townships are we likely to get the best views? Where are the above
average neighborhoods? Where are there noise problems? Where are
there tax assessment problems? Are there reliable contractors
available? Which lawyers, appraisers and inspectors are problem
solvers, not problem causers? Where are the best restaurants,
medical facilities, culture centers? What do you know about the
history of this place, this house, this town? What are the unseen
adverse developments which are likely to happen here? These, and a
host more of questions, are what a good buyer's agent will help you
with. Use them, they are valuable asset.
5. There are real joys in seeking out a new home. It's a create
activity which should be fun. A knowledgeable agent can paint you a
verbal picture of the past, present and future of each location -
what is great about a place and what is not. There are caveats you
need to be aware of which you can read more about in our Real
Estate Reports:
Why Architecture Matters - How a house becomes a home
Building a Better Way - Construction Management
Pearls of Wisdom (finding or creating the ideal home, an
architect's ideas)
From the Broker's Perspective
Lies, Damn Lies, and Statistics (what's really happened in the
local real estate market
Creating the Home
Learning from Mistakes
Misconceptions in Buying or Selling property
Steps and Stones of Buying a Home
Meeting the Ideal Home
6. Here is a list of what you should expect of your buyer's agent:
A. Prompt response to inquiries and appointments
B. Loyalty and honesty about properties, communities, conditions
and real estate policies and procedures
C. A problem solver, not a problem causer: a willingness and
ability to dig out answers and issues
D. Close attention to the unseen issues of a property: condition
issues, neighborhood issues, title issues
E. Clear presentation and execution of the procedures of buying a
property, which are:
F. Searching for properties based on the buyer's criteria; making
appointments;
G. Accompanying buyers everywhere;
H. Inspecting properties, observing conditions, standards, grades,
amenities; feedback to listing agent;
I. Evaluation and comparative market analysis of property values;
J. Seeking out new listings which meet criteria; preparing and
executing an offer agreement;
K. Negotiating over terms of offer (price, contingencies);
L. Preparing and resubmitting final offer agreement;
M. Following up with lawyers preparing contract, inspectors and
tests, survey, mortgage agent, other contingencies;
N. Following up on all papers and actions required for closing -
inspections and repairs, mortgage application documents;
O. Regular reviewing of progress and actions with agent's brokers;
P. Attending the closing, following up with buyer re contractor
recommendations, repairs and additions
Q. Introducing buyers to key persons and organizations in
community: professional, personal, social