The Difference Between A Real Estate Agent And A Home Buyer

Pitt Home Buyers | The Difference Between A Real Estate Agent And A Home Buyer

Transcription: hey everyone scott johnson here with pitt home buyers hope you’re having a great day today what i want to do is go over with you the difference between a real estate agent and a home buyer and i know i’ve covered this before but recently i’ve been going through the real estate courses uh because i’m actually going to be getting my broker’s license all of our family is actually you know heading in that direction going ahead and getting the license so we have it so that we can provide you guys more options so a couple of things i wanted to cover are kind of how it works with each one so let’s start off with if you’re listening with a real estate agent the fiduciary responsibility of said agent all right so obviously fiduciary means trust you have to have a trusting relationship and they have and you they have to give you all the information that is required for you to sell or buy your house but they also need to make sure that they protect all the information you want to keep private unless it’s a material fact which we can go over at some other time okay the interesting part about the fiduciary relationship with a real estate agent is it ends okay so let me put see this way there’s a couple ways it ends first of course when the contract is up and maybe the listing has gone away well guess what all the information that you gave them that was private is now up in the air if they end up working with another buyer and you know or they will end up working with a buyer who said is going to sell your property when you start listing with another agent they got to tell the buyer everything everything that you told them this could be oh i’ll take a little less or oh i’m not gonna fix this whatever right um so they have to tell the buyer the other way is let’s say i am a buyer and i don’t have a written contract with that seller or with that real estate agent well if i do not sign a contract or a a buyer’s exclusive buyer’s agency agreement with that person right before they put an offer in for me they have to tell the seller everything that i have said even if i said oh i’ll pay a little bit more but don’t tell them that right the reason is because if i do not have that agreement with them right then they they um are actually working as what’s called a sub agent of the seller so it gets really interesting because they’re working for the seller and they have to tell them everything because they have a fiduciary responsibility right now obviously their fiduciary responsibility is on paper so what does a home buyer like homebuyer have pit home buyers have that is comparable to this well honestly we have our values and you can go ahead to our um about us page to learn about our values of communication transparency and honesty and those are things that we hold dear these are things that if you’re doing business then damn it you need to have these things all right we want need to be completely transparent with you to the point where we literally tell you how much profit we’re gonna be making on a deal why because that allows you to make a more informed decision for yourself when you’re selling your house in greenville north carolina winterville north carolina or wherever right so it’s extremely important another thing is we don’t have any contracts aside from the uh agreement to purchase so you don’t have to worry about a literally 16 page contract when you’re listening with a real estate agent um and uh you know it’s literally just a simple process now we of course want to make sure that you read the contract it is only two pages so it’s not that hard come on now work with me but we do make sure that you read through it and we will we want to answer any questions prior to you actually signing it and us closing on your property now another big difference between a real estate agent and a home buyer or credible home buyer here in greenville is that the process tends to take longer when you’re trying to sell your house using a real estate agent now that is not always the case there are certain instances where it goes like that and normally it’s when a person is when the real estate agent brings a cash buyer to the table a cash buyer who says savvy investor knows what they’re doing but more often than not it is not an investor purchasing that property it is actually someone who will live in it and they are going to get a loan on it that’s why things take longer it’s because they’re working with a bank and there’s a lot of back and forth between the bank and the real estate agent and the seller and you know you have to get all the approvals and all this so obviously if you are buying a house in greenville just get pre-qualified because it makes things a lot easier for you and saves you you don’t take as many hits to your credit because you’re getting all these credit checks i digress anyway um so that’s why it takes a lot a lot longer in most cases but another reason it takes longer to sell your house when using a real estate agent in greenville is because you are not dealing directly with the person buying it you can’t give them that direct information and sign those agreements immediately and just get everything hashed out right up front you tell your sellers agent or you tell your listing agent the listing agent then tells the buyer’s agent then the buyer’s agent then tells the buyer and then when they want to respond and the buyer says oh okay that’ll work or oh no we want to change this well then the buyer tells the buyer’s agent and the buyers buyers agent tells the listing agent and so on and so forth rounded around it goes now obviously it’s not a huge deal in today’s um in today’s world because of all the technology but there’s still that time lapse and so when you’re working with a credible home buyer like pit home buyers you’re working directly with the buyer you’re working directly with the buyer and we always feel that regardless of whether we have something written down or not we have a fiduciary responsibility to be honest with you to be transparent with you to communicate and answer the flip and phone oh my god the small things right but they make a massive difference you can see there’s a fork back there my daughter’s working on we’re actually building a fort sorry side note there it’s like a shiny object um but you know so that’s another reason why you know working with a real estate agent is is good i i never say it’s a bad thing it is a good thing to work with them but in certain situations when you need to sell your house quickly and you need an honest proven approach um on how to do it then contacting a home a credible home buyer like pit home buyers is a really good option for you so just to recap two big differences between real estate agents and home buyers right the first one is going to be the fiduciary duties are not written on paper because they’re for a home buyer they’re ingrained in us but for you know and and they do not end but for a real estate agent when you write it down and sign it after that contract’s up woohoo goodbye right um the next thing is uh the time it takes to close which we’ve talked about we’ve beaten it like a dead horse but it is absolutely true on average it’s going to take between 30 to 90 days to close on a property when you’re selling it on the mls in contrast it takes us less than 15 days in most cases there is some situations where we’re working with a probate property where the family has it they’ve inherited the property they have to go through the probate process which takes a lot longer right um but you know we can actually talk to you about our experiences with properties that are in probate so you kind of have a good idea of what to expect all right guys well i went way long in this video i really appreciate you hanging out and i hope it helped to kind of help you understand uh the difference between a home credible home buyer and a real estate agent um if you like this video please subscribe by hitting the subscribe button below also give us a thumbs up if you liked it and if you thought it was complete trash by all means give it a thumbs down but how could you think that um and also uh you know if you have any questions definitely reach out to us 252-227-0274 this is scott johnson with pitt homebuyers have a fantastic day

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