There are some differences in representation between our 2% and 3% programs.

AGENCY--In the 2% By-Owner Program we represent both buyers and sellers since other agents usually are not involved. When we are the only agent, we are required by law to act as a "dual agent." which requires that we be impartial and work honestly and ethically for both parties. This means that we cannot reveal any confidential information about either party to the other party nor withhold any information from either party that would affect a decision.

With our 3% MLS program we usually represent only sellers since buyers usually have their own agents. However, occasionally we find the buyer ourselves and represent both parties as a dual agent. We always disclose to buyers and sellers our agency status.

OFFERS & NEGOTIATIONS--We advise sellers to relay all inquiries on their property to us and we initiate negotiations. Our first job is to get the initial offer.

If we are the only agent involved in the transaction, we provide potential buyers with comparable sales information and work with them to come up with an offer.   At the same time we make sure they are qualified for a loan.  We then formally write up the offer and provide the buyer with a estimate showing the amount of money they will need to close the sale and the amount of their monthly obligation.  We then present the offer to the seller along with another estimate showing how much the seller would walk away with if the offer is accepted.  We provide the sellers with information and help them evaluate details of the offer.  If the offer is not accepted we proceed with a counter offer and repeat the process until both parties finally agree to a deal.

If another agent presents an offer, we represent only the seller. However, our procedures are essentially the same.  We help the seller evaluate the offer and provide a estimate of the funds he will receive. 

BUYER QUALIFICATION-- We strive to have all buyers pre-qualified for loans before recommending our sellers accept any offers. Based on our experience, we may ask buyers for additional documentation beyond simple loan pre-qualification letters. For example, we may ask to see documentation showing proof of funds, income and credit.