What is Buyer Agency?
Buyer agency is a relatively new concept in residential real estate. In North Carolina it has only existed for about 20 years so even if you are not a first time home buyer it’s possible that you haven’t used a buyer agent before. A quality buyer agent is a professional & expert who is in your corner at all times. Home buying is a zero sum game. For every dollar less you pay, the seller gains (pays) a dollar (and vice-a-versa).
As your buyer agent, we have a fiduciary relationship with you. In other words, we are required by law to act in your best interests at all times – above even our own. What this really means is that we will never try to sell you a house. Because of the law, and because the incentives are correct, we have two goals:
- Save you, the home buyer, time & as much money as possible
- Make sure you will be happy the day you move in & 6 months from the day you move in
The kicker? The seller pays our commission fees so we don’t cost you a dime! If we have a signed buyer agency agreement with you, you are our client & we know you want to buy a house so we can fulfill our buyer agency duties to the fullest. We don’t care which house you buy because of the signed agency agreement; our job is to negotiate the best deal & look for red flags.
The McDonald Group Difference?
In 2013 a home buyer using the McDonald Group saved an additional 1.3% off of List Price, or 44% more than the average buyer agent!
We focus on results & we like to compare data. One way to measure the effectiveness of buyer agency is to look at the sales price/list price of transactions. In other words, what percentage of list price was paid? The metric, SP/LP, is specifically tackling how much money a buyer agent saves his or her clients.
From Sept ’12 through August ’13, an average buyer agent (Charlotte, single family homes) was able to secure a sales price at 97.04% of list price. Not bad! A savings of almost 3%. But that’s just an average buyer agent. You want a great buyer agent! On average in 2013, the McDonald Group was able to secure a sales price of 95.75% off of the list price.
A big difference! We are above average buyer agents & proudly so 🙂 Here are some home price breakdowns to show you actual net savings to an average buyer:
|List Price||Avg Buyer Agent SP (97.04%)||Avg McDonald Group Buyer Agent SP (95.75%)||McDonald Group Difference/Savings|
Here are what some of our clients have said about us in the past. You can also check out all our Zillow reviews here.
All data used in this post was derived from the CMLS.