Benefits of a
Buyer's Agent

For most of us, buying a home is the biggest single investment we’re likely to make – and we’re only likely to do it maybe once or twice in a lifetime. The process is, by nature, filled with checks and balances – and many complex details. Traditionally, agents were legally obligated to protect the interests of the home seller. Today preferences are changing. One of these changes is that more homebuyers are choosing to have their own real estate agent, known as a buyer's agent, to legally represent them.

A buyer’s agent represents you, the buyer, not the seller, and has full fiduciary duties, including loyalty to you. By definition, the buyer’s agent has your best interests in mind throughout the transaction. The percentage of homebuyers with buyer representation has grown significantly in the past decade. According to a recent National Association of Realtors® survey, nearly half (46%) of home buyers used the services of a buyer’s agent last year, and four out of every five buyer’s agent agreements were in writing.

The benefits
of buyer representation is the dedication of a buyer’s agent to the home buyer. The buyer’s agent and homebuyer establish a mutual agreement, known as a buyer agency agreement, that will entitle the homebuyer to, but is not limited by:

Loyalty
The real estate agent must act in the best interest of the buyer.

Disclosure
All material facts such as relationships between agent and other parties, existence of other offers, status of earnest money, seller’s financial condition, property’s true worth, commission split with other brokers, and legal effect of important contract provisions.

Confidentiality
Any discussions, facts, or information that should not be revealed to others but does not include responsibility of fairness and honesty in dealings with all parties.

Accounting in dealings
Reporting of where any money placed in the hands of the broker is kept.

Reasonable Skill and Care
Arriving at a reasonable purchase price and advising the buyer of such, affirmatively discovering material facts and disclosing them to the buyer, investigating the material facts related to the sale. With a buyer agency, the interests of the homebuyer will be represented in the purchase of the home. This scenario is different from a typical transaction where the buyer is not technically represented.

Six Questions
That Can Help You...

...Gain Insight on a Prospective Home

Unlike an automobile, you can’t test drive a home before you purchase it. You have to base your decision on other factors such as layout, condition and much more. And, of course, the seller is obligated to disclose the property’s condition that may alert you to issues such as previous mold, defective water heater or leaky roof. Yet, that still doesn’t always paint the entire picture. Here are six questions you should consider asking the seller to gain additional insight about the prospective home before you make a final decision.

1. Why is the seller selling the house?

This question may help you evaluate the “real value” of the property. Is there something about the house the seller does not like? If so, you may be able to adjust the purchase offer accordingly.

2. How much did the seller pay for the home?

In some instances, the answer to this question may help you negotiate a better deal. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the home. The original purchase price might not have anything to do with the current value of the house.

3. What does the seller like most and least about the property?

By asking the seller what he or she likes most and least about the property, you might get some interesting information. In a few cases, what a seller likes the most about a home might actually be something the buyer is looking to avoid. For example, if the seller describes his house as being in a “happening neighborhood,” the buyer might consider this a negative factor because the area may be too noisy or busy for his or her taste.

4. Has the seller had any problems with the home in the past?

It is also a good idea to ask the seller if he or she has had any problems with the home while living there. Has the seller had problems with a leakage from the upstairs bedroom in the past? If so, even if the leak has been corrected, the floor and walls around the bathroom might have been damaged. You should check that these items were repaired properly.

5. Are there any nuisances?

Use this question to find out about barking dogs, heavy airplane traffic or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.

6. How are the public schools in the area?

Because the value of a community is usually greatly influenced by the public schools in the area, finding out the buyer’s perception can give you some insight about the quality of the area’s schools.

Knowing all you can about a prospective home will help you make a more informed decision as well as offer. Your real estate professional can be a great resource in helping you get your key questions answered and give you advice on how to evaluate your findings.

Is a "Green" Home
For You?

Making your home a greener place is a commitment – to yourself, your family, your community and the world. But more than that, it is a learning process. As exciting new technologies, products and scientific breakthroughs constantly emerge, staying educated on the hows – as well as the whys – of maintaining a green home is the best way to ensure your efforts are as effective and beneficial as possible.

Green Home Defined
A green home uses less energy, water and natural resources, creates less waste and is healthier for the people living inside compared to a standard home. It’s as simple as that! A home can be built green, or you can make it green later. A green makeover can happen all at once, or it can be a gradual process. But what it all comes down to is a new way of thinking – and a new way of living. From a more energy-efficient kitchen to a tree-filled backyard paradise, your home can be green top to bottom, front to back, inside and out. And it doesn’t matter whether you rent or own, live in an apartment or single-family home, or live in the city, the suburbs or the country.

The Benefits of a Green Home
There are many very real benefits to living in a green home, and every day, more and more Americans are discovering those benefits. That’s why green homes are expected to make up 10% of new home construction by 2010, up from 2% in 2005, according to the 2006 McGraw-Hill Construction Residential Green Building SmartMarket Report. Owning or renting a green home is good for your health, your wallet and our environment.

A Healthier Home
Green homes’ use of toxin-free building materials helps combat indoor air pollution, which can be much worse than outdoor pollution. Unhealthy air inside can pose serious health risks for residents, including cancer and respiratory ailments like asthma. Such non-toxic materials include wheat-derived strawboard, natural linoleum made from jute and linseed oil, paints with little or no volatile organic compounds and toxin-free insulation made from soybeans, recycled paper or even old denim. Green homes have far fewer problems with mold or mildew. Natural ventilation in green homes, as well as use of mechanical ventilation systems to filter and bring fresh air inside and vent stale air outside, keep residents breathing easy.

A Cost-Efficient Home
The net cost of owning a green home is comparable to – or even cheaper than – owning a standard home. If upfront costs are higher, it is often because many architects, homebuilders, engineers, plumbers and other industry professionals just don’t have the knowledge and experience to cost-effectively plan, design and build a green home. Finding a professional familiar with green-building techniques will save you money and ensure you’re getting the best-quality work possible. Month to month, people who live in green homes save money by consuming 40% less energy and 50% less water than standard homes. Over the years, that adds up to big savings. A healthier home means fewer expensive doctor’s visits and fewer days of missed work.  Soon, it will cost less to insure a green home than a standard home. The Fireman’s Fund Insurance Company already offers a 5% discount to LEED-certified commercial buildings. A green home is more durable than most standard homes because of its high-quality building materials and construction processes, requiring fewer repairs. The value of a green home is typically higher than that of a comparable standard home, and the market demand for green homes continues to rise. The Solaire, a green residential high-rise in New York City, brings in rents 10% to 15% higher than market rates, and in Rocklin, Calif., the LEED-certified homes in the Carsten Crossings development outsold the competition 2-to-1. Local, state and federal governments are increasingly offering tax breaks and other incentives for building LEED homes or adding green features to your home.

An Environmentally Friendly Home
Residential cooling and heating alone make up 20% of the United States’ yearly energy use. Throw in household lighting, appliances and other electronic equipment, and homes are clearly a major source of energy consumption. Most of that energy comes from greenhouse gas producers like oil and coal, contributing to global climate change. Green homes use 40% less energy than comparable standard homes.

Some green homes further reduce our dependence on conventional energy sources as they generate some or all of their energy needs through alternative energy sources like the sun, wind, geothermal energy and biomass.
Efficient plumbing and bathing fixtures, drought-tolerant landscaping and water-conserving irrigation systems help green homes use, on average, 50% less water than standard homes.

Far fewer natural resources are used in the construction of a green home. Many green building materials have significant recycled content. Some companies, for example, now make carpets and floor tiles from recycled tires and bottles. Green homes can also be constructed with salvaged materials from demolished buildings. Green homes use materials made from rapidly renewable materials, like bamboo, hemp, agrifibers and soybean-based products. And the use of wood that is certified by the Forest Stewardship Council helps promote socially and environmentally beneficial forestry practices.

Building a standard 2,500-square-foot home creates approximately 2 tons of construction waste that ends up in landfills. Construction of a green home, however, generates 50% to 90% less waste.