HOMES FOR SALE

Frequently Asked
Questions

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No doubt you have questions of your own. Contact Ken for prompt answers.

FAQ: HOW DO I HIRE A BUYER AGENT?

There are agents, and then there are agents. Sound confusing? That's because the term "agent" is most often used in a casual manner, referring to anyone who is licensed to sell real estate.

But the word "agent" in the strictest sense refers to someone with whom you have established a formal agency relationship—someone who represents your best interests in a real estate transaction and who owes you fiduciary responsibilities.

Most folks are familiar with the concept of a Listing Agent. This is the agent who performs marketing services for the seller and who negotiates on behalf of the seller. He has a formal written contract with the seller which obliges him to look out for the seller's best interests. If you are bidding on a house, the listing agent is definitely not on your side!

But many folks are a bit hazy about the concept of a Buyer Agent. If you talk to a listing agent at an open house, does that automatically make him your Buyer Agent? If you ask an agent to show you a house, does that automatically make him your Buyer Agent? If you ask an agent to tell you what he knows about home prices in a neighborhood, does that automatically make him your Buyer Agent? If you sit down with an agent to write a bid on a house, does that automatically make him your Buyer Agent?

The fact is, none of these activities, in itself, automatically establishes an agency relationship.

The way to be sure you have proper representation as a buyer is this:
1) pick out an agent who seems to have a good working knowledge of the market that interests you,
2) discuss the fact that you are looking to form a fiduciary relationship, and
3) reach an agreement (preferably in writing) that makes it clear what services the agent is going to perform, how he is going to be paid, and what obligations you owe the agent in return.

Then you will have a Buyer Agent in the proper sense of the term—a licensed real estate agent who is legally obligated to perform the following duties:

• Loyalty - A Buyer Agent is legally obligated to act at all times solely in the best interest of his buyer client, to the exclusion of other interests.
• Obedience - A Buyer Agent is legally obligated to obey promptly and efficiently all lawful instructions from his buyer client.
• Disclosure - A Buyer Agent is legally obligated to disclose to his buyer client all relevant and material information that the agent knows, pertaining to the scope of the agency.
• Confidentiality - A Buyer Agent is legally obligated to safeguard the buyer client's confidences and secrets, especially any information that might weaken the client's bargaining position.

WHEN KEN LAMPTON IS YOUR BUYER AGENT ...

Ken will supply you with all the information and support you need to make a well-informed decision.

Ken will be easy to contact and will respond quickly to your phone calls, emails, and text messages.

Ken will be patient and respectful of your viewpoint even when you get a little bit crazy.

Ken will share with you everything he has learned about homes and the home buying process in 20-plus years as a REALTOR.

Ken will negotiate vigorously and effectively to get you the best price and terms for the house you choose.

Ken will not pressure you to choose a home quickly just so he can move on to other buyers.

Ken will not forget this is your home search, not his.

Ken will not treat you with more or less respect depending on your position in society or the size of your pocketbook.

Ken will not try to persuade you to buy a RE/MAX listing just because he is affiliated with a RE/MAX office.

Ken will not expect you to bid on a property without seeing a thorough analysis of home sales data for the neighborhood in question.

Contact Ken to discuss buyer representation.