How can you know enough about the properties to represent them to the buyer.
We pride ourselves on the use of newest technologies that often help us know more about properties we offer than does the listing agent. Please click our fact sheet for some to fhe innovations we use to make you the most knowledgabe party to the transaction.
How does ListingScout earn money from its services? |
As a broker for the buyer, our commission is usually paid by the seller. You, the prospective buyer, pay the same price as if you'd bought the property soley from the seller's broker, but with ListingScout you receive the many benefits of having your own experienced broker.
If the buyer is ever expected to pay a fee on a particular property the buyer is notified of that fact before an offers are taken and asked to sign a fee agreement detailing the arrangement. |
What forms do I need to sign to use ListingScout to find my property? |
Once a property is located on which you would like to write a Letter of Intent or an Offer, we will provide for your signature a:
- Confidentiality Agreement stating that you will keep the property information confidential;
- Buyer Agency Agreement detailing the principal-agent relationship in which ListingScout is the agent for the buyer. This agreement also spells out compensation details.
- Agency Disclosure Agreement that further details what type of agency agreement you have with ListingScout. In most cases ListingScout acts as the buyer’s agent, owing obligation to you, the buyer. This is in contrast to many brokerages who attempt to represent both the buyer's and seller’s interests;
- Lender Letter is usually submitted with the Purchase Agreement stating the buyer is qualified to borrow to the purchase price;
- A government issued ID such as a driver's license is also routinely requested to verify the identity of prospective buyers.
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Are these properties listed by ListingScout? |
Not usually. ListingScout acts as the buyer's broker in most transactions. Not being tied to our own in-house listings allows us to best work for you by selecting a property from the many thousands available. Regardless of who listed the property, we bring you the properties that best fit your requirements and not our own agenda. We believe there is an inherent conflict of interest that exists when the listing broker is pushing his own listings or claiming he can represent the interests of both buyer and seller.
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How do you analyze the properties you will be presenting to me? |
| First we make certain the property fits the detailed property information we take from you over the phone. We then take the financial information about the property from the listing broker and seller and make sure the information conforms to the norms for that property type. For example, if a seller claims his expenses are 30% when the norm is 50%, we reject that property pending an update from the broker. This process does not take the place of a thorough buyer investigation.
If you agree that the property is an exceptional value, you may like to write a letter of intent. If you would like, we will work with you during this period in preparing pro forma financials and other analytic services.
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What is the usual offer/purchase process? |
When you register, your assigned broker will contact you for details on the property you seek. These details will be given to our ListingCrawler programmer who inputs them into our proprietarty ListingCrawler™.web spider. You will receive email containing matching properties as they are found.
Your broker will work with you in writing the LOI or Purchase Agreement and present it to the listing broker or seller. Upon acceptance, our administrative staff will follow up with all involved parties to make sure to keep the transaction on track to closing. A Sharepoint Services web site will be created for you to track the documents, timeline and other important data related to the transaction.
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