Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 1/1/2017

Suburban homesBeing a decisive buyer will optimize your success and your time in today's competitive real estate market. A few decisions you should make before you and your real estate agent start actively seeking prospective properties and making offers to purchase include a definitive price range, a relatively specific location, and your ideal type of property, i.e. a house versus a condominium. Let's face it, you're busy. Sending your agent a precise budget, property type, and a short list of towns ensures you are making the most out of the time you spend visiting properties. Do your research beforehand and get to know the area and the communities you're looking in. You can save yourself some time by recognizing that a certain town may not make the best fit for you and/or your family. Ultimately choosing a maximum of four towns you'd be interested in will help you and your agent set up relevant showings. Deciding beforehand whether you wish to purchase a house or a condo is another great way to save time and ensure a proficient search, limiting the types of properties you're shown to the properties you'd be serious about buying. You don't want to continue to be shown properties that are too far out of your set budget and you certainly don't want to fall in love with a house that is $100,000.00 above your finances. On the other end of the spectrum, you also don't want to be shown houses that may be too small for your needs or that may not meet your ideal expectations when you have more money to spare. Understand that making decisions will optimize your search in the long run. Make decisions and stick with them, for now. If you simply aren't finding what you're looking for, you can always change your criteria further down the road. As your buyer's agent I won't be able to make these decisions for you, but I'd be happy to help you optimize your search and success.  





Posted by Thomas Murphy on 8/9/2015

When you walk into an open house and see the home you want to buy, before you start working with the seller's agent, you need to understand who that agent is working for. Many buyers do not understand that the seller's agent has a fiduciary duty or a duty of loyalty to the homeowner. While agency laws differ from state to state they have the same general principles: Typically an agent represents either the buyer or the seller. However, in some cases an agent will assume the role of a dual agent (representing both the seller and the buyer). Make sure to check the agency laws specific to your state, but in general agents fall into these categories: Seller's Agent: A seller's agent works for the real estate company that lists and markets the property for the seller, exclusively representing the interest of the seller. Buyer's Agent: Some states may have written agreements regarding buyer agency. A buyer agent assists the buyer in evaluating properties, preparing offers, and negotiating in the best interest of the buyer. Dual Agency: Dual agency occurs when the buyer's agent and the seller's agent are the same person or company (depending on state law). Dual agents do not act exclusively in the interests of either the seller or buyer. Dual agents cannot offer undivided loyalty to either party. A conflict of interest can arise because the interests of the seller and buyer may be different or adverse. A buyer and seller must agree to dual agency. Always ask your real estate agent about the agency laws in your state. Many states require buyers and sellers to sign a disclosure form at the first meeting between the agent and potential client.