A question asked by Chris in my previous blog post comments: Metro Vancouver Housing Inventory drops almost 37%… prompted this post.
Did you know that a potential buyer of a new home walking into the developer’s pre-sale office without a professional REALTOR® is compromising their position by automatically limiting their representation?
It is not possible for the developer’s agent to fulfill all the duties to both parties in a situation where, what is called, a limited dual agency relationship has been agreed to.
Don’t be confused or misled about the role of a full-service REALTOR® and how you will benefit.
Far too often new home buyer’s sign up for a “V.I.P.” pre-registration, and then not realizing all of the consequences, consent to Limited Dual Agency in writing.
Perhaps this explains why so many new home buyers don’t feel so “V.I.P.” after the fact, and protest; not that any good generally comes from complaining then though.
It may be a new condo but I will always recommend a Pre-Delivery Inspection (PDI) for the buyer’s protection. I will also recommend this CBC Marketplace video: Condo Crunch.
New home buyers often need help with many things, including completing their due diligence; making arrangements with other professionals, i.e. Lawyers, Mortgage Brokers, etc., is just one example.
My job as a REALTOR® is to protect the best interests of the buyer while ensuring that they receive the best possible representation available, and let’s be clear, this representation is limited in a Limited Dual Agency arrangement.
Considering that real estate transactions may be among the largest investment decisions made by a buyer, using the professional services of a full-time REALTOR® is a smart business decision.
I live by the golden rule by doing unto others as I would have them do unto me; you don’t need to compromise your situation.
Please contact me for a completely free, no-obligation consultation to see just how I can best serve you. You might want to start here.