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IN SC- USE A BUYER'S AGENT

Welcome to CoastalSCListings.com
 
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I know in some cases folks are under the impression it's going to cost them directly or think without me they have the ability to negotiate a better deal without my help or by contacting the listing agent directly. This common myth couldn't be furthest from the truth! My services are completely free to you in in MANY cases can end up saving you thousands by the time we close. Here's a quote from a recent article in US News. They had this listed as the #1 common myth in the Real Estate process. "Folks believe you can get a better deal as a buyer if you don't use a real estate agent. "That's a completely false premise," Elika says. If the house is listed with a real estate agent, the total sales commission is built into the price. If the buyers don't have an agent, the seller's agent will receive the entire commission".

"One of the MOST overlooked steps in the buying process "The Buyer's Agent"

There Are Many Benefits Of Using A Buyer's Agent! Now of course the best part are the benefits you'll receive at absolutely zero cost to you. However, there are many more perks associated with using the right agent. Agency in the state of SC is structured to make sure both parties are treated equally and fairly. Having the assistance of a local Realtor can help you in many ways and it's absolutely free on top of that. How is the buyer agents commission paid?... Well, it's ALREADY set up in a MLS listing to be paid by the seller and the price DOES NOT change just because you decide to deal with the listing agent directly! How great is that?!  Free helpful service that could potentially help save you (with the right agent) a ton of money in the process.

Please use my services to your advantage. I'm here to help.

Here's a simple example breakdown:

6% Commission ALREADY in listing in the MLS to be paid by the seller. Here's an example of how our commission is generally split.

3% for Buyer's agent

3% for Listing agent

If listing agent represents both sides in what's known as "dual agency" in SC. He/She would then be entitled to full 6% commission. THIS DOES NOT CHANGE JUST BECAUSE YOU USE ONE AGENT!

Exclusive Buyers Agents:
100% Loyalty To Home Buyers 100% Of The Time!

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Fiduciary Duties Of A Real Estate Agent

A real estate broker who becomes an agent of a seller or buyer is deemed to be a fiduciary. Other examples of fiduciaries are trustees, executors, and guardians.

The listing agent will be required by law to represent the seller using 5 major fiduciary responsibilities, but will he/she be doing the same for you? As a fiduciary, a real estate broker is held by law to owe specific duties to his/her principal (the person who they are representing), in addition to duties or obligations set forth in a listing agreement, buyer representation agreement, or other contract of employment. Subagents of the broker also owe the same fiduciary duties to the broker's principal. These specific fiduciary duties include:

  • Loyalty
  • Obedience
  • Disclosure
  • Confidentiality
  • Reasonable Care and Diligence
  • Accounting

Loyalty

One of the most fundamental fiduciary duties an agent owes to the principal. The duty obligates a real estate broker to act at all times, solely in the best interests of the principal, excluding all other interests, including that of the broker.

An example of breach of loyalty is when a broker purchases a property listed with his/her firm, and immediately resells it at a profit. Such conduct is usually considered appropriate and lawful by persons who act at arms length, but a fiduciary would be considered to have stolen an opportunity for profit that rightfully belongs to the principal.

Sellers Agent


Must do everything possible to gain an advantage for the Seller.

Exclusive Buyer's Agent


Must do everything possible to gain an advantage for the Buyer.
 

Obedience

An agent is obligated to promptly and efficiently obey all lawful instructions of his/her principal that conform to the purpose of the agency relationship. However, the duty does not include an obligation to obey unlawful instructions, such as instructions to not market a property to minorities or to misrepresent the condition of a property.

Sellers Agent


Must obey all lawful instruction of the Seller, is not obligated to obey instructions from the Buyer.

Exclusive Buyer's Agent


Must obey all lawful instruction of the Buyer, is not obligated to obey instructions from the Seller.
 

Disclosure

An agent must disclose to the principal all known relevant and material information that pertains to the scope of the agency. The duty includes any facts affecting the value or desirability of the property, as well as any other relevant information pertaining to the transaction, such as the other party's bargaining position, the identity of all potential purchasers, information concerning the ability or willingness of the buyer to offer a higher price, any intent to subdivide or resell the property for a profit.

An agent's duty of disclosure to his/her principal must not be confused with a real estate broker's duty to disclose any know material facts about the property value to non-principals. The duty to disclose known material facts is based on a real estate broker's duty to treat all persons honestly. The duty of honesty does not depend on the existence of an agency relationship. 

Sellers Agent
 

Must reveal any known material defects in the property.

Must NOT reveal information about traffic problems, poor school system, declining property values, etc. since these items might make the property less desirable to Buyers.

Exclusive Buyer's Agent
 

Must tell Buyer everything they can find out about the Seller including the motivation for selling and any reasons the Seller may have for wanting a quick sale.

Must tell Buyer everything they can find out about the property, including traffic problems, poor school system, high crime rates, etc.

 

Confidentiality

An agent is obligated to safeguard his/her principal's lawful confidences and secrets. Therefore, a real estate broker must keep confidential any information that may weaken a principal's bargaining position. The duty of confidentiality precludes a broker who represents a seller from disclosing to a buyer that the seller can, or must, sell a property below the listed price. Conversely, a broker who represents a buyer is prohibited from disclosing to a seller that the buyer can, or will, pay more than what has been offered for a property.

The duty of confidentiality does not include an obligation by a broker who represents a seller to withhold know material facts about the condition of the seller's property from the buyer, or to misrepresent the property's condition. To do so constitutes misrepresentation and impose liability on both the broker and the seller.

Sellers Agent
 

Must tell the Seller everything they can find out about the Buyer, including all financial details they can obtain.

Must conceal anything about the Seller that would help the Buyer gain an advantage, such as impending foreclosure, need to move in a hurry, need to sell to settle divorce, etc.

Exclusive Buyer's Agent


Must keep all information about the Buyer confidential, including the Buyer's ability or willingness to pay more for the property than they are offering as well as the Buyers motivation for buying.
 

Reasonable Care and Diligence

An agent is obligated to use reasonable care and diligence when pursuing the principal's affairs. The standard of care expected of a buyer's or seller's real estate broker is that of a competent real estate professional. By reason of his/her license, a broker is considered to have skill and expertise in real estate matters superior to that of the average person.

As an agent who represents others in their real estate dealings, a broker or salesperson is under a duty to use superior skill and knowledge while pursuing the principal's affairs. However, no broker is expected to perform tasks or know information outside the scope of his/her real estate license. Real estate licensees are not expected to perform services normally provided by engineers, lawyers, accountants, or other professionals. If concerns arise outside the scope of a broker's responsibility, the broker should acknowledge that and suggest that the principal seek assistance from a reliable outside source.

Sellers Agent


Must prepare themselves through education and study to competently represent the Seller in all matters.

Exclusive Buyer's Agent


Must prepare themselves through education and study to competently represent the Buyer in all matters.
 

Accounting

An agent is obligated to account for all money or property that belongs to his/her principal entrusted to that agent. The duty compels a real estate broker to safeguard any money, deeds, or other documents entrusted to them relative to their client's transactions of affairs.

Sellers Agent


Must account to Seller for any money or documents entrusted to them.

Exclusive Buyer's Agent


Must account to Buyer for any money or documents entrusted to them.
 

Before buying a home or real estate you should ask your agent these questions:

  • Will you point out all the negative aspects of each property as well as all the positive aspects so I will be fully informed when making my decision?
  • Will you provide information on comparable sales and help me formulate an offering price and negotiating strategy?
  • Do you have a list of lenders, home inspectors, insurance agents and other professionals that you recommend?
  • Will you tell me everything you can find out about the seller and their reasons for selling?
  • Will you show me all the homes on the market that meet my needs including foreclosures, short sales, and other properties?
  • Will you guarantee that any information I give you will be kept confidential?
  • Will you guarantee me your undivided loyalty?
  • Will you guarantee me you will not try to change your relationship with me to "dual agency", "designated agent", transactional agent", or any other form of agency that offers reduced levels of service?
  • Can you guarantee me 100% loyalty 100% of the time?

Only a Buyer's Agent can answer "Yes!" to ALL of the questions.
 

In the case of SNIDER v. OKLAHOMA REAL ESTATE COMMISSION, June 1, 1999 the Oklahoma Supreme Court said: "Sellers' agents and dual agents do not and cannot by law give a buyer the same degree of loyalty as an agent who acts on behalf of a buyer. Sellers' agents owe their allegiance to the seller. Dual agency invites a conflict of interest. A buyer who relies on the seller's agent or on dual agency does not receive the same degree of legal protection as that afforded by an agent acting solely on behalf of the buyer".
 

Buyer's Agent acts solely on behalf of the Buyer. They aren't trying to "sell" you but their specialized knowledge and expertise in assisting home buyers.

I understand you may just be shopping and are currently in the preliminary stages of your home search. Please know, I'm not here to bug you. I do understand you may not be ready to talk with a Realtor. This email is nothing more than a quick explanation of how our state guidelines are in place to help you. So for now, just go ahead and enjoy the benefits of my website and service..... I'll be here when you need me. No question is too small. I'm here for you!
 
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