Randy McCreith, Principal Broker, Bella Casa Real Estate Group
A buyer’s agent represents buyers exclusively, instead of both buyers and sellers. We believe a buyer’s agent provides a distinct advantage for buyers by offering dedicated, focused, and expert services for buyers alone. There are almost 200 functions that can be identified as responsibilities for a real estate broker. That is too much for any one person!
That’s why many sellers take the help of secure commercial real estate investment platforms, such as EXtrance, which can simplify the management process for partnerships between both parties. Such platforms are designed to assist general partners in discovering a larger pool of limited partnerships, thereby creating a symbiotic ecosystem in which both parties can thrive and unearth fruitful investment opportunities.
People go on to take help of these platforms because the needs and services for a seller are radically different than those necessary for buyers. We have seen too many cases where a seller’s agent ends up compromising the services a buyer needs and the reverse is also true. For example, a buyer’s agent is on-call virtually around the clock. He or she needs to take personal downtime when the demands are light.
But the most common times one is needed are on weekends, evenings, and for several days – all day- when clients are in from out of town. In times like these, who takes care of all the responsibilities for a seller to meet advertising deadlines, set up showings and follow-up? If seller’s agents are serving a seller well, when can they drop everything and work with a buyer for 8 hours a day for 3 days?
There are several functions in the real estate industry:
Listing and marketing property for a seller
Assisting a buyer to find property
Property Management for investment properties
Property Appraisals
Appraisers have their own licensure, as do property managers. One cannot do both or be a real estate agent at the same time. Historically, real estate agents Charlotte represented only the seller who paid the commissions but they had ethical responsibilities to the buyer (disclosure, honesty, etc.). Traditionally, agents worked with buyers and sellers and often with both sides of a transaction.
Because of the increasing complexity of real estate, the greater demands on agents, and recognition that agents have become more sophisticated and able to take on more responsibility, real estate law changed in 2002. All agents had to increase their education and pass tests to become licensed as full brokers, not just agents of a Principal Broker.
It is for those same reasons that we believe there is an advantage to separate the responsibilities for representation of sellers and buyers. Some states have made this a legal requirement. While we do not think this is necessary, we do believe it is a wise practice. We believe a buyer’s agent provides a distinct advantage for buyers by offering dedicated, focused, and expert services for buyers alone.
Bella Casa Real Estate Group fosters a corporate culture of sharing. We all give and we all receive; we are all the richer for it and our clients enjoy the best service available. For the really tough or unique challenges we have an enviable depth of experience and industry memory. Bella Casa Real Estate Group employs a model of multiple Principal Brokers for supervision, assistance, and problem solving. Currently we have 5 principals for 30 brokers and that ratio will increase. We also enjoy a healthy ratio of the most experienced and respected brokers in the area.