Advantages of Buyer Representation vs. Customer Service

Sales Representative

Kingsway Real Estate Brokerage

During Qualification Process

Confidentiality

Buyer “Client”   -buyer can feel secure to divulge information without fear of harming their negotiating position

Buyer “Customer” – all information gained about the buyer will be shared with the seller to enhance the negotiating position of the seller

Needs

Buyer “client” – salesperson is obligated to pay full attention to buyers needs, like, financial, timing, motivation

Buyer “Customer” – salesperson not obligated to satisfy any particular needs other than dealing fairly, honestly and with integrity

During the home selection process

Full Access

Buyer “client” – salesperson is responsible to ensure that buyer has access to the entire market, which includes private sales, exclusive, etc.

Buyer “customer” – salesperson is acting as a sub-representative and has no such obligation to the buyer

First Opportunity

Buyer “client” – buyer clients will have first access to any new opportunity that arises, e.g. MLS, or any other means

Buyer “customer” – will have access after the buyer client has been given first opportunity, and not if it conflicts with the buyer-client’s desire for the property

During the Home Showing Process

Educating the Buyer

Buyer “client” – salesperson is obligated to assist the buyer in making an objective comparison of all competing properties so that the buyer can make an informed decision based on value of the property and any other important facts

Buyer “customer” – salesperson only obligated to present known comparable facts that protect and enhance the value of the property

During the Negotiating Process

Price

Buyer “client” – salesperson is obligated to present all sales statistics in order to make the most informed pricing decision, irrespective of the seller’s asking price

Buyer “customer” – provide price information to the buyer that supports the seller’s listing price

Clauses

Buyer “client” – salesperson is obligated to protect their client by advising them on proper clauses that suites their client’s best interest, e.g. Home inspection, financial, closing dates, inclusions, etc.

Buyer “customer” – clauses will be negotiated for the best interest of the seller

Financing

Buyer “client” – salesperson is obligated to assist the buyer in finding the most suitable, or best financing available

Buyer “customer” – salesperson is obligated to negotiate the best financing clause in the interest of the seller. This may include: the time it takes the buyer to get financing, removing financial conditions, etc.

Negotiating

Buyer “client” – salesperson is obligated to provide negotiating strategies and techniques that are in the best interest of their buyer

Buyer “customer” – salesperson is obligated to provide the seller with the strategies and techniques that are in the best interest of the seller

Previous Offers

Buyer “client” – must share all known details of previous unsuccessful offers, or any other information that strengthens the buyer’s negotiating position

Buyer “customer” – must share knowledge of previous negotiations the buyer has been in, enhancing the negotiating position of the seller

Personal Information             

Buyer “client” – knowledge of any personal information about the seller must be shared with the buyer, including but limited to the price the seller is willing to accept, a price that has already been accepted or rejected, as the case maybe and the seller’s motivation

Buyer “customer” – must share information about the buyer which may include but is not limited to: financial information, and ability and/or willingness to pay more, and ability and/or willingness to change closing date

Sales Representative

Kingsway Real Estate Brokerage

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