Let's say you decide to buy a Georgia mountain property that has a home and acreage or just acreage. You think about the ideal setting and qualities you want on this property. You decide that anywhere from 10 to 20 acres would be ideal and that the property should be no more than two hours from your home in the Atlanta area. You know a little about the different mountain areas so you decide to begin your search.
The next step you take is to make plans for a Saturday and/or Sunday trip to drive the mountains and "take a look". In the course of your trip, you write down information from twenty "for sale" signs you pass. You repeat this process every other week for a couple of months. If you're like most people, you call a few of the agents listed on the signs and find that each agent has several properties that they believe you may be interested in buying. You make appointments for the following or subsequent weekends to see these properties, mixing in different agents as well as additional time driving and looking on your own.
The sale process now begins. The first agent, with TreeTop Realty Co, has four properties to show you. Agent "A" is the listing agent on all of these properties. She wants to sell you one of these properties for two very good reasons. First, she has a duty to the sellers who have chosen her as their listing agent. If any of these properties even closely fits your described requirements or the agent thinks there is a chance the property will interest you, then she will show you the property. Secondly, if one of her listed properties results in a sale to you, then she will receive a full commission, both the listing commission and the selling commission. She is entitled to this commission because she has performed her duty to the seller she represents, plus she has found the buyer for the seller's property.
Agent "B", with ABC Realty, has six mountain properties to show you. Agent "C", with High View Realty has four mountain properties to show you, and so on.
However, If agent "A" does not have a listed property that meets your needs then she will try to find you a property in the MLS (Multiple Listing Service ). This plan is agent "A"'s second choice because she will be splitting the commission with another Broker. Agent "A" will call other listing agents for other listed properties in the MLS. The other Brokers will be the Listing Agents, and agent "A", if she can find a property through these other agents, will be the Selling Agent. Having to split a commission is better than losing you as a customer so she will try hard to find something else. But remember, you called four different agents about property you saw on your first drive in the mountains. Each of these agents will do exactly the same thing that agent "A" did when you first called her. They will show you their listings first if they believe one or more may fit your requirements, or will interest you. They will then follow up with other agent's listings, which is exactly what they should be doing in order to sell you property that meets your needs.
The process described above results in confusion. All these agents trying to show and sell you real estate. They will call you frequently and ask that you allow them to show you other properties as they become available. They will drive you all over the mountains, involving countless trips and much wasted time. What's wrong with this process?
1. This is the most inefficient process you can use too find your ideal property. You spend too much time traveling in unfamiliar areas and seeing too few properties that actually meet your needs. Listing agents are trying their best to find a property for you and know full well that you are talking to other agents as well. This loyalty factor is important to all agents. After a period of time they become less confident of doing business with you as you go from agent to agent. Can you blame them for becoming discouraged?
2. You begin to take calls from all these agents regularly and each call is about another property that may meet your needs. All these calls consume hours of your time.
4. Importantly, you will miss seeing properties that are not listed mainly because you won't have the time to see all the agents that work in all the different areas. There is a good chance that these unlisted properties may very well be your ideal mountain property.
5. You deal with all these different agents and all the different styles and personalities. The properties begin to fade and mix together. Missed opportunities come and go without you even knowing about them or having an opportunity even to look at them. You become confused as to the importance of each of the features of the different properties.
Compare the "Do It Yourself" Method above to"TheBuyerAgency" method below.
We meet to discuss your real estate interests and requirements. For you to become my customer or client I must know that your are ready, willing, and able to purchase real estate that meets your stated requirements. And I must know that you have made a commitment to remain loyal to me throughout the search process. You must feel confident in my ability to find you property that meets your stated requirements. And you must be confident in my ability to help you, advise you, and guide you in the real estate transaction process.
Together you and I thoroughly explore the concept of your ideal Property. I ask you detailed questions about your short, medium, and long term goals for this property. I guide your choices by providing you with insight, based on my experience, about the different mountain areas and the different features of each property. How are you going to use the property? What do you think you will want to do with the property after your purchase? What recreational or other needs do you want the property to have or be near? To what entent are real estate prices rising differently in each area. We will talk about the different mountain areas and the differences between them.
We discuss the financial aspects of your budget, financing and other matters that allow us to investigate only properties that meet your goals and financial circumstances.
Now you can go about your life and let me go to work. You won't have to drive around on unproductive visits, passing by properties for sale that fits your needs, but are not listed or publicized. You also won't have to deal with all the different agents and spend countless hours looking at properties that don't meet your stated objectives.
This process will last approximately two to three weeks. During this time I will be developing a list of suitable properties. I will visit several of the properties prior to adding them to the suitable list. Finally I will schedule a time for you and me to visit each of these properties. Ideally a single day or two days at most will be needed. Each of these properties will have almost all or all of the requirements you set in our consultations. I care that each of the properties meets your physical requirements and financial ability, while also representing good value to you.
I do not sell customers and clients real estate. It is not my function to sell you any property. I show you properties that meet your stated qualities, answer your questions, advise you, help you negotiate a favorable price and terms, and offer suggestions and opinions for you to consider. You make the final purchase decision based on all that you have learned about the various properties.
Remember, I don't have any preference as to where you purchase the property or who the listing agent is. I care only that I find the ideal property that fits your needs completely. I represent your interests faithfully and completely, while working hard to maintain a professional and working relationship with the Listing Agents.
Do the listing agents cooperate with me? You bet they do! I have a ready, willing and able buyer to purchase a specified property. I don't waste his/her time because I thoroughly qualify my buyer and each property a listing agent tells me about. If I schedule a property to show, then the agent knows I have determined his/her property meets most all of my client's requirements. Listing agents are very happy to work with me. We are both real estate professionals, and, as such, we respect the time and efforts of each other. If my efforts result in a contract then the listing agent has fulfilled his/her obligation to the seller, and I have found my customer or client a property that ideally suits their needs completely.
Typically a seller has agreed to a commission rate with the listing agent for selling the property, and typically Listing Broker split the total commission on a 50/50 basis between themselves and the selling Broker . This is why the commission is paid by the seller. You have received the helpful and valuable time and money saving services of a dedicated agent without any additional costs to you. You have saved an enormous amount of time. You have reduced your costs of finding your property. You are confident of having had fair representation that was thorough in sifting through all the available properties in your area of interest. And you are comfortable in knowing that you have negotiated the most favorable terms in purchasing your property. All this service has been provided to you with no additional fees, and you were guided by a knowledgeable real estate professional in the transaction.
For these reasons professional investors almost always prefer to use the services of a knowledgeable real estate professional. This method is becoming popular with first time investors as they learn of the benefits. Busy people simply do not have the time to drive and drive, bouncing from one agent to another, and wondering if they know enough about the area or specific property to make a reasoned and correct purchase decision. I know what I am doing, and I efficiently track down properties that meet your needs. I do not waste your valuable time. When we go to the contract stage, I will give you advise, help you as you negotiate the best price and terms. In addition I can advise you as to financial alternatives that help you maximize your investment.
Do you want to: 1. Drive all over unfamiliar mountain areas hoping to run into a suitable property. 2. Work with a number of different agents, all showing you their listings. 3. Look at properties that have little to do with what you want. 4. Worry rather you know enough about the area to make an reasoned buying decision. 5. Wonder if the information provided about an area by an agent is objective, or if it is the only area the agent is familiar with. OR Would you rather: 1. Retain the services of a Broker who is not only familiar with all the North East Georgia mountains, but also sells property in all the North East Georgia Board of REALTORS market area. 2. If you desire, have a Broker represent you as a Buyer Broker who is specifically trained, and is an Accredited Buyer Representative (ABR) without cost to you. I work with serious buyers who have committed to purchasing mountain property and want a high skill level to assist buyers in finding the type of property that fit their needs best, not the needs of a listing agent selling their client's property.
Why go it alone when I offer you, without additional cost, the benefit of my personal investment, ownership, and management of investment and mountain properties?
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Georgia Mountain Properties, LLC
Experienced Real Estate Investor and Property Manager.
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