Exclusive Buyer Agents, or sellers with exclusive negotiating power, are valued in the real estate marketplace. They are a must in today’s market. With new home construction hitting all-time highs, the demand for luxury properties is soaring. With this high demand, there is a corresponding high supply of properties on the market. As a result, many more sellers are competing to get the sale of one of these prized properties off the market. This can cause an enormous imbalance in price when it comes time to negotiate the purchase agreement. With so many properties available and so few buyers competing for them, a negotiation that doesn’t go their way could result in the property going to the market at full price or a discount. When this happens, as they say, “win-win” for both the agent and the seller, the exclusive agent has an advantage over other agents and their competition.
How to Find an Exclusive Buyer Agent?
The best way to do this is to start by researching the current roster of Buyers’ Agents in your area. Please contact each of them and find out DDP Property & what they have to offer and how they got started. A Buyer Agent will be experienced in finding properties to purchase and will have a strong network of properties available. A Buyer agent will also work with a real estate investor who has some capital to purchase a luxury home.
It would be best if you also made contact with the homes themselves. Look for open houses and properties listed but not yet sold by the agent. You will often find that there may be other Agents advertising for these properties and are willing to take them on at a discounted rate. They may be willing to give you a reduced price to receive your business.
It would be best if you also kept your ears open for “For Sale By Owner” (FSBO) signs. Often these will be next to expensive homes on the MLS. You can often find exclusive buyers by listening to these signs. If the seller does not want to sell their FSBO property with the MLS, that is something to consider.
Also, ask your real estate agent if any FSBO properties are currently for sale in your area. Often they will list these on their own or list the properties for sale by the owner on their website. They may have several, or even a large number, of properties listed. You may be able to find some exclusive deals by contacting the owners directly. Keep in mind that these properties will have to be FSBO properties, and they will not have the same type of listing as the MLS. You may have to pay a small fee to become the actual owner of an FSBO property, but you will be getting the first crack at the offer.
Once you find a few potential buyers, you should schedule face-to-face meetings. Arrange to meet them all in one specific location, and have a contract in place. This contract should include the offer price, when it is made, who pays what costs, the purchase agreement, and other important terms. Your agent should know if you can find an exclusive deal before the meeting.
Once you get a contact, you should make an appointment to view the properties. Many agents find that viewing the properties is more helpful and helps them feel good about their progress. They will also feel better about your ability to find an exclusive buyer agent once you have completed this process with a few potential buyers.