The Importance of Home Buyer Representation

Posted by Tim Parker on Tuesday, November 12th, 2013 at 9:03pm.    1381 Views

Caveat Emptor Ohio Home Buyers

Let the Buyer Beware!  Purchasing a home is typically one of the largest investments you can make and it only makes sense that you would want to be assured that you were doing so in the most informed way possible.  Hiring a representative who understands the complications and implications of the home buying process is the first step many people take.  A professional real estate agent, especially one who is a member of the National Association of Realtors and whom carries the Realtor designation, is typically the best option for most buyers.  

What Does Buyer Representation Mean?

It is not uncommon for a buyer to enter into a written exclusive agreement with a Realtor.  This agreement obligates the Realtor to the interests of the buyer and the buyer to the services of the Realtor.  Most buyers do not understand that this type of agency is even available because it is not commonly advertised.  Others shy from Realtors out of ignorance about compensation because they do not understand that real estate representative's fees and commissions are built into the market price of a home.  

Buyer Representation

When a home buyer and a Realtor enter into an agreement of representation, the Realtor is then bound to: follow the buyer's lawful instructions, be loyal to the buyer, promote the buyers' best interests, disclose material facts to the buyer, maintain confidential information, and account for any money that is handled in the transaction.  The majority of homes for sale involve a real estate agent who has listed the sellers' property for sale.  This representative of the seller promotes the home to other real estate agents and to the public.  This agent has an obligation to the sellers' best interests, not to any buyers who contact them because of their advertising and open houses.  A buyers' agent is the adversary of the sellers' agent.  It is important that all home buyers understand this.

Buyer Representation by a Realtor

The Ohio Revised Code sets the educational requirements for becoming a licensed real estate agent.  It also includes laws for real estate brokers and agents to comply with in their individual practices.  In order to be compensated for representing a home buyer in Ohio you must either have a real estate license or a law license.  Licensed agents can become Realtors by joining, and agreeing to a-bide by the very strict National Association of Realtors Code of Ethics.  Everyone who wishes to have representation in a real estate transaction has the choice of going through the process alone, with a lawyer who typically deals with many legal issues, a licensed real estate agent who meets the minimum requirements of the State, or with a Realtor who is held to the highest standards in the industry.

I am a full time, profession Realtor and would be happy to take the time to explain Ohio home buyer representation, commissions, or agency.  Please contact me for all of your real estate questions.

Tim Parker
Call me  (614) 551-7341
or email me  

3 Responses to "The Importance of Home Buyer Representation"

Paul wrote: Interesting read there Tim,

Sounds like the kind of help I need, can you tell me about home values in the Lima area? Relocating for work and selling off a house in indiana. Are prices going up or down, are they holding value or should I just rent for now?

Posted on Saturday, November 16th, 2013 at 4:04pm.

Tim Parker wrote: Paul,
Thank you for asking. The housing market in Lima is solidifying and now is a great time to buy a home. I would love to meet with you to discuss the buying process and why renting instead of buying may actually cost you a lot of money.
Call, e-mail, or text me anytime to schedule a sit-down buyers preparation session.

Posted on Saturday, November 16th, 2013 at 9:43pm.

Tim Parker wrote: Following Up - Just a note to you readers: Paul and I have connected. He scheduled a Buyer's Counseling Session with me and we shared a lot of information. I found out exactly what he was looking for which was that he really wanted to buy a home. He found out what the process of buying is and got a list of steps to take, paperwork that he would need to gather, decisions that he would be making, and contacts that could help him.
We are working together now with many other professional service providers to get Paul what he wants; when he wants it. Congratulations Paul!

Posted on Thursday, December 5th, 2013 at 12:33pm.

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