Buyer Representation in Texas

This information about buyer representation in Texas is so important that the Texas Real Estate Commission REQUIRES that we discuss this before seeing houses.

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Things Are Different in 2024!

There are BIG changes hitting the entire real estate industry as of August 2024, so make sure you watch my videos to understand those changes and how they will impact you.

RECOMMENDATION: Change the video Quality setting to 720p. You can also change the Playback Speed.

 

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Buyer’s Agent vs Listing Agent

There are different rules for how a Buyer’s Agent can work with a home buyer vs. how a Listing Agent can work with a home buyer. 

 

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How Can I Make Sure My Agent is On My Side?

As you can see, if you want all the pertinent information available to make the best buying decisions, then it is important that you obtain your own representation with a Buyer’s Agent.  Having a Buyer’s Representation Agreement benefits you by:

• Protecting your confidentiality
• Allowing me to provide you with all the information at my disposal, including advice on the price
• Allowing me to negotiate based on your best interests
• Giving you a partner who is loyal to you

 

 

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List of My Value-Added Services for VIP Home Buyers

My job isn’t “just” helping you find a house to buy…I’m helping you through the entire 2-4+ month process of buying a home. There are over 100 action items on my checklist during the purchasing process. I’m looking out for you every step of the way and keeping my eye on the listing agent, the seller, the builder (if applicable), the lender, the inspector, appraiser, HOA, and the title company. I’m on YOUR side because I’m YOUR agent and have a fiduciary duty to take care of you to the best of my abilities.

I help with house pricing data/analysis, contract negotiations, legal paperwork and deadlines, inspections, appraisal issues, repair negotiations, home warranties, HOA issues, hazard insurance, surveys, title insurance, home warranties, and more. I have the expertise to help solve complicated problems that often occur in the transaction and I work to prevent, to the best of my abilities, you losing your earnest money or worse.

My goal is to make the process as easy as possible and to guide you every step of the way. You’re not trained in all the legal deadlines and requirements regarding Texas real estate, but I am! Real estate is a huge financial and legal commitment. Don’t you deserve to have a Five Star real estate agent on your side?

 

How I Add Value To Your Home Buying Process

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1. Premium, customized home search (based on my knowledge of the area school ratings and flood zones) to filter out homes that don’t meet your criteria. You can’t get this level of a home search on your own!
2. Online home review BEFORE you tour a house, to look for potential defects such as high-risk flood zone, high-voltage power lines, MUD tanks, previous flooding, and other issues…so you don’t waste time touring undesirable homes.
3. Detailed home tours (in-person or via VIDEO* for out-of-town clients), where I help identify the features and benefits of each home and neighborhood as well as any potential home defects (so you don’t end up with a “money pit”).
   

   *I’ve sold many homes “sight unseen” to out-of-state an out-of-country clients, via my HD video walkthroughs (view sample). I will even video the inspector summary and final walkthrough for you. 

4. Hyperlocal knowledge and expertise so I can point out the amenities, PROs and CONs, and HOA details of most neighborhoods in this area.
5. “Sheila’s Home Buyer Guide” for THIS AREA (not generic) that includes helpful info about the INs and OUTs of the home buying process here in Texas. Remember that real estate laws are different from state to state.
6. Detailed pricing data and expert Comparative Market Analysis (CMA) on the house you select to purchase, so you can make a good decision regarding the price. Pricing homes is my superpower! 😊
7. Expert contract creation and negotiations to help you get the house you want…even in multi-offer situations.
8. Assistance with hiring home inspectors, reviewing inspection reports, and guiding you on necessary repairs/costs so you make the wisest decision.
9. Floorplans! I can create a floorplan of any home you purchase, whether provided by the home seller or not.
10. Project management of all the legal deadlines and requirements throughout the transaction. You’ve got enough to deal with the packing, moving, and job/school relocation activities!
11. Assistance in managing the title commitment/insurance process and working with the title company.
12. Assistance with home surveys and their impact on your transaction.
13. Assistance with appraisals and their impact on your transaction. I know how to protect you if the appraisal “comes in low” (which can happen in super-hot seller markets).
14. Assistance with HOA compliance documents, fees, and procedures.
15. Help with obtaining home owner’s insurance and flood insurance.
16. Guidance with choosing a home warranty as needed.
17. Helpful information regarding all the utilities (MUD info) applicable to the home you purchase.
18. Helpful “Planning the Move” information and “Info About New Home” that will help make your transition easier.
19. “Moving Survival Kit” provided as my Closing gift. This contains the things you will need on your moving day (but are usually packed) such as: soap, trash bags, paper plates, cups, toilet paper, snacks, box cutter, etc.
20. Guidance on your homestead tax exemption and how to apply for it in a timely manner to reduce your property taxes.
21. Helpful monthly home maintenance reminders, to take care of your investment!

Whew! That’s way more than “just” showing houses. 😄

Here are some other articles about “buyer representation”…

• Should You Use a Buyer’s Agent?
• What is a buyer’s agent, and do I need one?
• How a Buyer’s Agent Can Help Your Home Search
• Do I need a Realtor to buy a house?

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But I’m Buying From a Home Builder – So I Don’t Need An Agent

A home builder is a seller…so you still need your own representation! Believe me when I tell you, that sales rep sitting at the builder’s model home may be a super-nice guy or gal, but he/she is paid to look out for the builder’s best interest, not yours. 

The builder’s sales agent is not going to tell you that they are building in a high-risk 100-yr flood zone, or that there is a landfill or prison a half-mile away from the neighborhood or that the specific schools zoned to the neighborhood are low-performing (notice how they talk about the school district?), or that the neighborhood is struggling to sell homes (and home values are falling).  The builder’s agent will not tell you that the last three buyers who bought the same floorplan that you want, paid $30,000 less than the price he or she is showing you now…but I will! What’s more, the sales agent will show you that the house originally listed for $100K more than current list price to make it sound like a great deal. 

By the way, the number of home buyers buying directly from a builder or builder’s agent is only 2 percent. Whereas 86 percent of home buyers choose to do so through are real estate agent or broker (see below).

Source: National Association of Realtors Profile of Home Buyers and Sellers

 

Please know that you are not necessarily going to save money by not having your own agent. 

And always remember that you still need a home inspector when you buy a new-construction home. The builder’s inspection process is not for your protection…it is just part of their system. In my experience, new homes typically have longer inspection reports (more stuff to fix) than good-condition resale homes because the “kinks” haven’t been worked out yet…by the first owner.

Once you have a Buyer’s Representation Agreement in place, you should always state that up front to builder’s sales agents (if touring new home models) because, by law, they need to know that you have representation.

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Read More

• Buying New vs. Resale Home
    
• What To Expect When You Buy a New Construction Home