Jeremy,

It looks like most of what you were looking for was probably answered below. It is beneficial to you as a buyer from the standpoint of protection and information. You have someone that represents you and is out for your best interest. Not to mention the access to information and expertise a Franklin Buyer's agent has is exactly what you want.

Don't forget, the only money in the transaction comes from the buyer in the end, but why not have representation in quite possibly the largest financial transaction you will ever make. It is already paid for! Take care and let me know if there is anything I can assist you with.

Luke
615.429.3836
Luke@Agent615.com

Wed Jul 23 2008, 12:38

Hi Jeremy,

It is always in your best interest to have a buyers agent represent you. Although dual agency is legal in TN, which is the agent representing you and the seller with full disclosure, sometimes it is not always the best. This is one reason I personally went into real estate. You want to make sure your agent is protecting you and your families needs only and not walking into something that may potentially become a "one-sided" contract. I always suggest to my friends and family that what you truly want in a good agent is not just referrals or certifications, but that they truly hear what you want in a home and what your needs are. Buying a home is an emotional purchase and you want a good agent that will help you find that perfect home.

Sat Jul 19 2008, 10:05

Dena, Brian, & Pete have pretty much summed up the reason why you need to invest in an exclusive buyer's agent to represent you during the real property transaction. Your goal at this point is to find which agent will "fit" your specific requirements. My suggestion is to
A) write down at least 10 questions to ask this realtor professional (how long in the business, certifications, area of practice, marketing strategies, methods of media, etc..)
B) contact your friends/business collegues, neighbors - get some referrals from them.
C) Contact/interview a min. of 3 agents to a max of 5.
D) Review each interviewee's answers.
NOW you are ready to determine which agent will best represent you and your family at this point.
Good Luck!
Tina Evans, Principal Broker

Mon Jul 14 2008, 20:34

Choosing a buyer's agent can be like having a $10,000 gift card to West Elm. You can splurge a bit on something you wouldn't normally get the chance to splurge on because you got something for free. A buyer's agent is paid by the seller's agent and has only your best interest in mind. In the "shopping spree" of finding the right one, you will have lots of great options in Nashville. I've been honored to work with some of the best buyer's agents in this city as well as working as a buyer's agent alongside some of Nashville's best agents. Make sure you choose an agent who has been through many transactions, who understands the navigation of today's marketplace and who knows your area. Reputation is also very important. You'll want to find an agent who is involved in other REALTOR activities and associations who have strong negotiating power with her/his peers. Enjoy finding the right agent and interview many...but most important pick YOUR BUYER'S AGENT and have someone in your corner!

Mon Jul 14 2008, 20:18

Hi Jeremy,

You will receive the most protection when you work with a buyer's agent. Your alternatives are to either go unrepresented or to let the listing agent for the home you want to purchase also represent you in what is called dual agency. Dual agency is legal in Tennessee as long as both parties are aware and consent in writing, but by definition it is virtually impossible. Here is what I mean. The fiduciary responsibilities of agency are: care, disclosure, obedience, loyalty, confidentiality, and accounting (proper handling of funds). If you "represent" both parties, how can you maintain confidentiality when you owe each full disclosure? It gets pretty tricky. If you go completely unrepresented, the other party that has representation may have an unfair advantage.

A buyer's agent works exclusively for you and is obligated to act in your best interests at all times. If you are just using a buyer's agent without being in an exclusive agreement with them, some of those fiduciary responsibilities named above do not apply with it not being an agreement. Many agents and brokerages will only work with you in an exclusive agreement, but it protects everyone involved. It outlines what is required of the broker and the client and most will use a state written contract that has everyone's interest in mind.

As for going about finding an agent, there are plenty of us in the Franklin area on this board that I'm sure will answer your post. So you may very well find your agent by talking to some of the ones who answer your post. Consequently, the area you are searching is a primary area of my focus, so I'd love to learn more about your needs to see if I can help. Otherwise, I'm sure there will be a good candidate on here any minute.

Mon Jul 14 2008, 16:50

Jeremy,

Real estate professionals work in this business every day; they know the market, and they are familiar with the process of buying a home. Liken it to the familiarity you experience with all aspects of your job because you show up and do that job every day.

A buyer agent’s allegiance is to the buyer, not to a particular property or seller. Your own agent will present choices for you to consider. Your buyer's agent can help you stay on track, and can help you gather the information you need to make the best home-buying decision for your family.

An agent of your own, who works in your best interests, will help you through the home buying process in some important ways. A buyer's agent will guide you as you decide what you want to spend on your home, after providing information about the current prices of homes that fit your preferences. And, your agent should listen to your answers! This is one of the largest, most important decisions you will make, and it is their job as your buyer agent to help empower you to locate and purchase a home that suits your needs. The seller’s agent is not going to do this, and is not obligated to.
Having a buyer agent on your side to guide your negotiations can keep you focused and ready to act on the home you want when you find it. Your buyer's agent will help you determine how to arrange your offer and help you determine how to prepare yourself to finance it should your offer be accepted.

Representing you in purchasing your new home. Representation is an important issue, and as friendly as the seller’s agent can be, they are working in the best interest of the seller. That is appropriate. But who is representing you? Their job, rightly, is to sell a particular home, and to treat you fairly, but it is not their job to advise you about your alternatives.


Please let me know how my team can best serve you.

Pete Prosser
The Premier Group
Village Real Estate
2206 21st Ave. South
Nashville, TN 37212
Office: 615.383.6964
Direct: 615.279.7294
Mobile: 615.423.0890
Website: www.villagerealestate.com
e-mail: pprosser@villagerealestate.com

Mon Jul 14 2008, 16:49

I represent both buyers & sellers. I don't know the percentages but most do represent both. It is our ethical responsibility to equally represent either side. Yes, we may show you our listings but if they fit your needs why wouldn't we? The selling side is where the advertising expenses come in to play. Some just chose not to deal with this expense of the process. A good agent is a good agent. Period.

Mon Jul 14 2008, 16:46

Jeremy,
We are an exclusive buyers agent firm. I have experience as a buyer/seller but I prefer to be just a buyers agent. I am confident that you will receive many options on your question (which is a very good question) and I actually am looking forward to reading the replies.
I think most respectable agents and firms are able to represent both a seller and a buyer. If you are doing what is right for your client, your allegiance should be seamless and this can be a win-win for everyone. But there is a rule in real estate which is most likely a rule in all sales professions, that is 80% of the work is done by 20% of the people. You will find this especially true in real estate. And a sale is a sale. How can you not be motivated to recommend or suggest to a prospective buyer a property you also are "selling" as the listing agent? This is a difficult struggle for most. So is the client best served? This most likely depends on the sophistication of the the client. An educated client will be able to spot this and ensure that he/she is being shown all possibilities and not just the ones that best serve the agent. With the internet this has become much more possible.
I like being a "buyers agent" because of the market we are in "Retirement, Second and Vacation Properties". We cover the entire southeast and rely more on our relationships with the very best agents in select areas to help us narrow down the very best choices. We focus on helping people select the right area in the south then we work with agents/developers to concentrate on the specific property.
I hope this helps. If you need help locating a realtor in Franklin, either a buyer/seller or other, please email me. We can refer you to a few very good ones.
Best of Luck
Marian Schaffer
The Schaffer Realty Group
terry@marianschaffer.com
www.marianschafferrealty.com

Mon Jul 14 2008, 16:24

Hello Jeremy:

An Exclusive buyer's agent represents you, and only you all through the transaction.

Contact me and I will be more than happy to refer you to an agent who can represent you on your search and purchase.

Mon Jul 14 2008, 16:23