For Buyers
Martha’s Vineyard Real Estate Buyers
Real Estate – Preparing to Purchase a Property.
A Real Estate Agent does more than just show houses!
The Island gets into your blood and even though you may move, there is always a draw to bring you back home. The longer you are away, the stronger the pull. For many, the draw becomes too powerful, and they find themselves bringing their families back home. If you are one of these lucky ones, it’s our hope that your family continues to develop this sense of oneness with the Island.
For Buyers
Real Estate – Buyer Broker
Protecting Buyers – Throughout a Transaction
A Real Estate Agent is a licensed professional who works closely with their Client / Customers to find property to purchase. While on the surface this may appear to be a routine task, there are many behind-the-scenes procedures and information that our Agents provide to buyer(s) that protect and make the purchase process easier. The better the Agent, the smoother the transaction appears to the buyer(s).
Once a buyer(s) decide to buy a house or land on MV, our agents help prepare to find a perfect house. We have an extensive understanding of the real estate market and trends. Whether you are looking to move to the Island full time or are searching for an investment property, our Agents are knowledgeable, friendly, and professional.
Our Agents know the Island! We have strong ties to the Vineyard. We have grown up vacationing and living here. We have run Island businesses, sent our children through the local schools, and have made the Island their home.
What is a Buyer Broker?
An individual or couple can engage the services of a real estate Agent (or Agency) to purchase property. Upon signature of a Buyer Representation Agreement, the real estate Agent is now the sole representative for the buyer(s), and the buyer(s) are now the Agent’s client.
Why do I need Buyer Representation?
Without a professional agent to guide a buyer(s) through the purchase process, the buyer(s) is on their own.
One of the most common mistakes a potential buyer(s) can make is to assume the Agent that shows them a house has their interest at stake. This can be a costly mistake because the Listing Agent represents the seller, and their responsibility is to sell the property for the most money and the best terms. They DO NOT look out for the interest of the buyer(s).
By signing a Buyer Broker Representation Agreement, the Agent, as your Buyer Broker, represents the buyer(s) interest and not the seller’s. The Agent now owes the buyer undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality, and accountability. The Agent must put the buyer(s) interests first and negotiate for the best price and terms for their client, the buyer(s)
The Buyer’s Representation Agreement means the Agent’s sole responsibility is to look out for their client’s interest. The Buyer(s) now has one Agent who can provide information and guidance during the search process. Once a buyer(s) has identified a property they like, the Agent is crucial because he/she is their trusted advisor who understands the purchase process, knows their client’s needs, and can negotiate the best price and terms.
“A great way to get introduced to the Island community is to say you are looking to buy a house. With almost 700 real estate agents on MV, it seems like everyone is looking to sell you a house.” You will be inundated with invites and offers.
Another advantage of signing a Buyer Representation Agreement is to eliminate the constant pressure from other agents looking to “show you that perfect property”. While this may seem like a good way to find a property, it’s a very inefficient and time-consuming way to search for real estate. Working with one Agent allows your him/her to filter out repeat and properties that don’t match the buyer(s) requirements. The Agent can also research information about properties on a consistent basis before contacting the buyer(s).
Hiring a Buyer’s Broker doesn’t cost the buyer(s) anything. The Seller pays the real estate commission from their proceeds of the sale.
Real Estate – Transaction Overview
Checklist for Buyer(s)
While no two buyer transactions are the same, there are standard forms and steps necessary to purchase a property. We have created a PDF file to help buyer(s) navigate the purchase process. This is not a complete list, but can be used as a reference and timeline to help understand the process better. If you have additional questions, your Agent can assist you.
Contact Us to Get Started Today:
Please use the contact form below to contact us for our free comprehensive Buyer Checklist (note the Free Checklist in the message area) and let us know if you have any questions about buying real estate in Martha’s Vineyard.
Get InTouch
Email:
Sales@VineyardHomeRealty.com
Phone:
+1-508-627-0506 Phone
+1-508-939-0237 Phone
Address:
eXp Realty, LLC
21A North Water Street, Edgartown, MA 02539