Hi John and Leo,
I have lost a substantial amount of business because I did not explain why everyone needs their own realtor. here’s a letter I wrote this morning. it may need some tweaking but it might help you save some deals.
Here’s the letter:
Thank you for your interest in homes in the Jacksonville area. I will begin to send you current listings of homes that meet the criteria you have provided. I just ask that if you see any that look interesting to you please give me a call or email so I can pave the way for you in the process and give you the legal representation you deserve.
Some buyers make the mistake of walking into a listing or a new construction site and beginning the process without the aid of their Realtor. When this happens you will usually lose the ability to have legal representation in the transaction. What’s even worse is that you are still paying for the service of a Realtor but not getting his or her services. When you see a sales price of a listed home or a new construction home, your Realtor’s commission is built into that sales price and it does not matter if you use a Realtor or not, you’re still paying for one.
For example, let’s say you’re looking at a home with a sales price of $250,000. That sales price pays a 3% commission to the listing agent and a 3% commission to the office of your Realtor. If you don’t bring your Realtor into the picture from the very beginning you are still paying a whopping $7,500 for a Realtor and not getting anything for your hard earned money. Now you have tilted the deal in the favor of your seller because they have a Realtor and you don’t. Buyers that go this route never get all they are entitled to because they don’t have a Realtor fighting for their best interests.
Another way to look at it is that in reality you are paying $15,000 for both Realtors since both commissions are built into your sales price. If you don’t have a Realtor you’re actually paying another Realtor $15,000 to legally represent the seller of the home. This is true for both resale homes and new construction homes. Listing agents and site agents really love when you don’t have a Realtor… for obvious reasons. Always insist that you are working with your own Realtor and don’t sign anything until you’ve gotten your Realtor there to help you.
Keep in mind that my services are totally free to you in the sense that you don’t pay me a thing out of pocket (except a $195.00 transaction fee at the closing table as part of your closing costs). The commission for my services are built into the price of the home. The reason the Realtor on the other side of the transaction does not tell you this is because if you don’t have a Realtor, he or she gets to keep that whole commission for their own pocket, not to mention that they won’t tell you what you can ask for and require in the deal in terms of inspections, repairs, closing costs, etc. Not having your Realtor fighting for you could actually cost you thousands of dollars.
I share these things with all my homebuyers so you can be best equipped and get everything you’re entitled to in the purchase of your first home.
Call me if you have any questions.
