Who's Your Agent?

More often than you’d expect, homeowners refer to the person they bought their insurance from as their agent. It sounds reasonable but it is definitely not accurate. That person is the agent of the insurance company and they legally represent the company, not the customer. Even an independent agent who can place a policy with different companies is still an agent of the company.

A mortgage officer, in most cases is an employee and represents the company. And the same is true for a title or escrow officer. It’s important to understand the actual relationship to know what you can expect from them. Any businessperson who wants to stay in business must treat their customers fairly and with a high degree of service. As a customer, you should be able to reasonably expect honesty and accountability. The difference is that employees owe their loyalty to their employer and agents owe their loyalty to their principal.

An agent owes more than just honesty and accountability. The principal can expect complete disclosure, obedience, loyalty, reasonable skill and care and confidentiality from their agent. This advocacy is very beneficial during the buying or selling process to coordinate all aspects of the transaction. The agent can bring valuable experience to your side of the transaction to provide confidence that your best interests are being represented from start to finish.

Most states have a recognized procedure for the real estate professional to create a formal relationship between themselves and a buyer or seller. This requires a fiduciary/statutory responsibility that places the principals’ interests above the agent’s own personal interests.

In Massachusetts real estate brokers and salespeople/agents are required to provide consumers the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form at the first personal meeting with you to discuss a specific property. The form explains the types of agency an agent can provide. Although, this has been mandatory for years, many buyers who have looked at properties with other agents often tell me they have never seen the form! Consumers have a right to know who an agent represents.

Additionally, while a home seller is required to sign a written agreement in order to list their home for sale with a REALTOR (member of the National Association of Realtors), it is also in a buyer's best interest to have a written agreement with an agent who is going to represent them as a buyer agent. It clarifies expectations so there are no surprises or misunderstanding about responsibilities and makes for a less stressful transaction. Click for more information about buyer agency

 -------------------------------------------

About the author: Marilyn Messenger is a local real estate broker associated with Andrew Mitchell and Company, Concord. She has been representing buyers and sellers in Concord, Wayland, Sudbury, Maynard, and the towns west of Boston since 1993. She is a Certified Residential Specialist (less than 4% of Realtors have achieved the CRS® designation), an Accredited Buyer Representative and is an active member of the Real Estate Buyer Agency Council. Messenger is also a Certified Luxury Homes Marketing Specialist and a Million Dollar Guild Member. Visit www.MarilynMessenger.com

Who Is Your Agent?

Buyer Agent or Seller Agent? Who's Working for You?

More often than you’d expect, homeowners refer to the person they bought their insurance from as their agent. It sounds reasonable but it’s definitely not accurate. That person is the agent of the insurance company and they legally represent the company, not the customer. Even an independent agent who can place a policy with different companies is still an agent of the company. A mortgage officer, in most cases is an employee and represents the company. And the same is true for a title or escrow officer. It’s important to understand the actual relationship to know what you can expect from them.

Any business person who wants to stay in business must treat their customers fairly and with a high degree of service. As a customer, you should be able to reasonably expect honesty and accountability. The difference is that employees owe their loyalty to their employer and agents owe their loyalty to their principal.

An agent owes more than just honesty and accountability. The principal can expect complete disclosure, obedience, loyalty, reasonable skill and care and confidentiality from their agent. This advocacy is very beneficial during the buying or selling process to coordinate all aspects of the transaction. The agent can bring valuable experience to your side of the transaction to provide confidence that your best interests are being represented from start to finish.

Most states have a recognized procedure for the real estate professional to create a formal relationship between themselves and a buyer or seller. This requires a fiduciary/statutory responsibility that places the principals’ interests above the agent’s own personal interests.

In Massachusetts real estate agents are required to provide consumers the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form at the first personal meeting with you to discuss a specific property. The form explains the types of agency an agent can provide. Although, this has been mandatory for years, many buyers who have looked at properties with other agents often tell me they have never seen the form! Consumers have a right to know who an agent represents.

Additionally, it is in the consumer’s best interest to have a written agreement with an agent who is going to represent them as a buyer agent. It clarifies expectations so there are no surprises or misunderstanding about responsibilities and makes for a less stressful transaction. Here are some of the other advantages of a written buyer agency agreement.
-------------------------------------------
About the author: Marilyn Messenger, a local real estate broker associated with Andrew Mitchell and Company, has been representing buyers and sellers in Wayland, Sudbury, Maynard, and the towns west of Boston for 20+ years. She is a Certified Residential Specialist - less than 4% of Realtors have achieved the CRS® designation, an Accredited Buyer Representative and is an active member of the Real Estate Buyer Agency Council. Visit www.marilynmessenger.com.

Home Buying: Written Agreements Benefit Home Buyers

Most consumers know that if they want to “hire” a real estate broker/agent to sell their home and represent their interests, they are going to sign a contract. Realtors® are not allowed to list a property without one. The contract clearly spells out the terms of the agreement including length of time, compensation, who the agent represents and each party’s responsibility.

While buyer agency is not a new concept - it has been legal in MA for almost two decades and a few years ago the law that governs agent-consumer relationships was updated to further ensure consumer protection - many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract.

Buyers often call to ask for help finding a home and many talk about their disappointing experiences with "their buyer agent." When asked if they had a contract with the agent, the answer is almost always “no”.  Well, of course they are disappointed! How did the agent know what the buyer expected? And were the buyer(s)' expectations realistic?

The benefit of a contract is that both the buyer and the agent know what to

Move-Up Buyers in Sudbury

expect and that each is accountable. The buyer knows which geographic areas the agent covers, they know how the agent is going to be compensated, and that the agent is legally obligated to act in their behalf.

Buying a home is a process that takes time, effort and tenacity; it's a long way from finding a house that suits your needs to getting to the closing table. Successful negotiations are based on trust, confidentiality, and mutual respect. Buyers, you are entitled to have a qualified buyer agent on your side to ensure you get the representation you deserve and a written agreement is the first step.

First-Time Home Buyers

While any agent can call themselves a buyer's agent, an ABR, Accredited Buyer's Representative, has additional training and is a member of the Real Estate Buyer Agency Council, the network that provides ongoing education and resources for representing buyers.

Before you start looking for a house find a qualified buyer broker/agent who will listen to you and respect your needs; one who knows the market in the area, knows how to negotiate, has a network of resources - lenders, home inspectors, attorneys, movers, etc.; and who will educate you so you can make the best decisions about your new home. Real estate is about relationships, so make sure you have your own agent who knows and cares about your well-being.

Visit www.marilynmessenger.com for easy homes searches and get the latest real estate news and community information about about Wayland, Sudbury, Concord, Maynard, Stow from your local real estate specialist. 
-----------------------------------------
Marilyn Messenger is an Accredited Buyer Representative/Buyer Agent and is an active member of the Real Estate Buyer Agent Council (REBAC). She has been representing home buyers and sellers for 21+ years. Marilyn Messenger is a top 1% recommended agent/broker on Trulia. 

The Perfect Last Minute Gift

It’s part of holiday tradition to celebrate with family and friends and to share gifts with our loved ones.  There’s no measuring how much is spent on the combined effort and money to find the perfect gift.

The challenge is to identify the right gift in the right color and size; something they really want and need; and something that won’t break the budget.

“Eight Gifts That Do Not Cost a Cent” are suggestions that have been offered on numerous Internet sites attributed to an anonymous writer.  They may be just what you need to find the perfect gift.

• THE GIFT OF LISTENING...but you must really listen. No interrupting; no daydreaming; no planning your response; just listening.

• THE GIFT OF AFFECTION...be generous with appropriate hugs, kisses, pats on the back and handholds.  Let these small actions demonstrate the love you have for family and friends.

• THE GIFT OF LAUGHTER...clip cartoons and share articles and funny stories.  Your gift will say “I love to laugh with you."

• THE GIFT OF A WRITTEN NOTE...it can be a simple "thanks for the help" note or a full letter.  A brief, handwritten note may be remembered for a lifetime and may even change a life.

• THE GIFT OF A COMPLIMENT...a simple and sincere, "you look great in red" or "you did a super job" or "that was a wonderful meal" can make someone's day.

• THE GIFT OF A FAVOR... go out of your way every day to do something kind.

• THE GIFT OF SOLITUDE...there are times when a person wants nothing more than to be left alone.  Be sensitive to those times and give the gift of solitude to others.

• THE GIFT OF A CHEERFUL DISPOSITION...the easiest way to feel good is to extend a kind word to someone.  It’s really not that hard to say, Hello or Thank You.

Wishing you all the best at the holidays and throughout the year; enjoy!

------------------------------

Of course, the gift of home is always a great gift to yourself! Holiday time is when families often talk about moving - people get engaged, change jobs, combine households, down-size, announce new babies on the way, need more room, finding a better place for parents who need assistance...If you find yourself having these kinds of conversations and would like to talk about your next move, please contact me or visit www.marilynmessenger.com to search for homes, get the latest market reports for Concord, Wayland, Sudbury, Stow, and Maynard; learn about buyer agency, or request a valuation report for your home. 

Type article title here

Inventory is dramatically shrinking and it is commonplace in many markets to have multiple offers on a home. While the sellers would prefer to be able to choose the best offer for them, it can be incredibly frustrating for the buyers who might consider the following tips to get their offer accepted.

1. Remove the uncertainty that you may not be approved for a mortgage by having a pre-approval letter from your mortgage company.  

2. Show your sincerity by increasing the normal amount of earnest money customary for the area and price of the home. The earnest money will be applied toward your down payment and closing costs.

3. Specify a closing date in the contract but acknowledge that you can be flexible to accommodate the sellers moving date. If it becomes an issue, it still must be mutually agreed upon.  

4. Make the contingency periods shorter if possible to make the seller feel that they’ll know sooner that the offer is solid.  

5. If the contingency really isn’t important to you, leave it out of the offer. The more contingencies included in a contract, the more the seller will feel might happen to keep it from actually closing. However, do not waive contingencies if it means risking your deposit. Even in a hot market, be careful.

6. Write a personal note to the seller explaining why you like and want their home. Consider including a picture of your family and pets. 

7. Physically sign the offer with a felt tip pen of contrasting color. You’d be surprised how this adds a personal touch to the offer.

Offer a fair price for the property in your initial purchase agreement. It shows sincerity and good faith that you’re actually trying to purchase the home and not trying to take advantage of the seller. The old adage that you can always go up later may never happen if there are multiple offers on the property in the beginning.

And, remember as a buyer you are entitled to have your own agent represent you and negotiate on your behalf. Sometimes buyers either don't understand what a buyer a can do for them or else they think going directly to the sellers' agent will benefit them. This could not be further from the truth - the sellers' agent is legally bound to act in the best interest of the seller.
-------------------------------------------
Marilyn Messenger is an Accredited Buyer Representative (ABR) and a Certified Residential Specialist (CRS) who has been representing buyers and sellers in Wayland, Sudbury, Maynard, Stow, Concord and the suburbs west of Boston since 1993.

Call Marilyn at 508-596-3501 or visit www.marilynmessenger.com for more information about buyer agency.

Connect with Marilyn Messenger on Google+

Buyer Agency - Written Agreements Benefit Buyers

Most consumers know that if they want to have a real estate broker/agent sell their home and represent their interests, they must sign a contract. The listing contract clearly spells out the terms of the agreement including length of time, compensation and each party’s responsibility.


While buyer agency is not a new concept – it has been legal in MA for more than a decade and a half and a few years ago the law that governs agency relationships was updated to further ensure consumer protection, many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract.

Buyers often call me to ask for help finding a home and many tell me they have had disappointing experiences with "their buyer agent." When I ask if they had a contract with the agent, the answer is almost always the same: "we didn't have anything in writing..."  Well, of course they are disappointed; how did the agent know what the buyer expect from each other? And were the buyer's expectations realistic?

The benefit of a contract is that both the buyer and the agent know what to expect and that each is accountable for what they say and do. The buyer knows which geographic areas the agent covers, they know how the agent is going to be compensated, and that the agent is legally obligated to act in the buyer’s best interest.

Buying a home is a process not an event - there is a lot more involved than finding a picture on the internet or going to open houses to "look." Successful negotiations are based on trust, confidentiality, and mutual respect. Buyers, you are entitled to have a qualified broker/agent on your side to ensure you get the representation you deserve and a written agreement is the first step.

While any agent can call themselves a buyer's agent, an ABR, Accredited Buyer's Representative has additional training and is part of a network that continues to provide education and new tools for representing buyers.

Before you start looking for a house find a qualified buyer agent/broker who will listen to you and respect your needs; one who knows the market in the area, knows how to negotiate, has a network of resources - lenders, home inspectors, attorneys, movers, etc.; and who will educate you so you can make the best decisions about your new home. Real estate is about relationships so make sure you have an agent who knows and cares about your well-being.

About the author: Marilyn Messenger is licensed broker, Certified Residential Specialist (CRS), and an Accredited Buyers Representative (ABR) associated with Andrew Mitchell and Company, Concord MA. She has been representing buyers and sellers in Wayland, Sudbury, Maynard, Stow, and the towns west of Boston since 1993. Visit http://www.marilynmessenger.com/ to search MLS and get the latest informaton about real estate and buying a home.

Attention Home Buyers - Great Time to Buy in Sudbury MA!

It’s a great time to buy a home in Sudbury MA! There are 94 single-family homes for sale and both median and average sale prices have dropped during 2008. There were only 6 closed sales during November compared with 23 in November 2007, and 12 during October for both years. The median sale price was $547,500 –down 18.5% from Nov. 2007; the average sale price was $617,917 - a 17.5% drop from the previous year. Average time on the market is up to 201 days from 189. Year-to-date sales decreased 23% from 2007. Both median and average sale prices dropped by approximately 10%.


Overall, the number of homes for sale is the same as last year at this time. However, inventory levels vary by price-range: the ranges with the largest increases are: $700k to $799,900 – 13 for sale compared to 5 last year; $1,000,000 to $1,499,999 – 19 compared with only 8 last year; and over 2 million – there are 12 compared with 4 last year. The price-ranges with the largest decrease in inventory...MORE...

Complete MLS listings, information for home buyers - buyers deserve to have an agent on your side, learn about buyer agency.

Written Agreements Benefit Buyers

Most consumers know that if they want to “hire” a real estate broker/agent to sell their home and represent their interests, they must sign a contract. Realtors® cannot list a property and represent a seller without one. The contract clearly spells out the terms of the agreement including length of time, compensation and each party’s responsibility.

A buyer agency agreement/contract does the same thing. It is an agreement for an exclusive arrangement between a buyer and a broker/agent for a period of time. It spells out how much the agent is to be compensated and by whom – it is in the buyer’s best interest to be clear about this. It describes each party’s responsibility and obligation. It lists the geographical areas covered, as well as the home search method. The contract also explains the terms “dual agent” and “designated agent” – very important to understand before the negotiation process.

While buyer agency is not a new concept – it has been legal in MA for about 15 years and a couple of years ago the law that governs agency relationships was updated to further ensure consumer protection, many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract. I have had many buyers call me to ask for help finding a home and they tell me they have had disappointing experiences with their “buyer” agents. When I ask if they had a contract with these agents, they answer is almost always “no”. Well, of course they are disappointed!

Satisfaction is tied to expectation. Know what to expect – get it in writing!

Find your next home at http://www.marilynmessenger.com/ - complete MLS listings with addresses and maps, news and information from an Accredited Buyer Representative and Certified Residential Specialist - Sudbury MA and west of Boston.