OUR VALUE PROPOSITION
(It is to your advantage for us to represent you)
This letter formalizes why our working relationship with you can easily be to your financial advantages. Here are the services you are entitled to and what we expect from you in return. It is an important and helpful tool for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive. You may end the relationship early if things aren’t going well.
Purchasing a luxury property is a complex process involving a major financial commitment. With so much at stake, buyers want a trusted guide who can help them with many good decisions and minimize risk. As experienced real estate professionals, we know that getting the process right is crucial. However, there is much more than following the letter of the law. Our success is determined by matching our services to our client’s motivations, concerns and needs. We provide service, information, knowledge and guidance.
We use our market knowledge and connections to find suitable properties that fit our clients’ requirements and price parameters. We encourage our clients to focus on factors that are most important to them and be willing to accept some tradeoffs on lower priorities. We present a realistic picture of the current market and make certain that the promises we say we provide coincide with what the client expects.
We use the “no stones unturned” property search approach and even promote the buyer’s search through a variety of media and channels, including “word of mouth” efforts. We have access to the entire market including For Sale by Owners, REO’s and even off market properties. When it comes to our new on the market listings, our buyer clients get the first look. There are really no limits on the property search except those determined by the buyer client.
As a buyer’s representative, we owe you a fiduciary duty. We are expected to exercise discretion when acting on your behalf, including adhering to very specific responsibilities, obligations, and high standards of faith and loyalty. Following are some examples.
- If you are a client, we will negotiate the most favorable transaction terms for you—and will not disclose any material facts about your situation that could hurt your negotiating position. If you were only a customer, we wouldn’t be in a position to answer such basic questions as “Why are they selling?” because we would be acting as a sub-agent of the seller.
- As a client, we pay full attention to your needs as opposed to maintaining loyalty to the seller’s needs.
- Rather than telling the seller all about you, we tell you all we know about the seller.
- We keep information about you confidential, as opposed to keeping information about the seller confidential.
- The focus is on choices which satisfy your needs rather than on the seller-client’s property.
- We provide price counseling based on comparable properties and professional insights. Without this, we provide price information which supports the seller’s listing price.
- We protect and guide you as opposed to protecting the seller. We negotiate on your behalf.
- All attempts to solve the problems are to your advantage and satisfaction, as opposed to that of the seller.
HERE IS HOW WE GET STARTED
- We first provide the client with a recap of their needs, wants, and priorities in a checklist form.
- We provide an advanced list of the properties to give the buyer-client an opportunity to check out the physical location and condition of the property.
- We provide a sample purchase offer agreement so the buyer-client can be prepared with the required information when ready to make an offer.
- We use a wants/needs checklist to evaluate properties.
- We review the properties and evaluate which come closest to meeting the buyer-clients needs, wants and priorities.
- In presenting your offer:
A. We require of the seller that we be present when making an offer for the following reasons:
- We know your objectives, concerns and priorities.
- In presenting the offer, we learn more about the seller’s situation and concerns and are better prepared to advise you in a counter offer situation.
- The terms we present will be described objectively and hopefully in a way that favors the client.
- Prior to presenting the offer, we ask the seller to sign a confidentiality agreement to keep the client’s offer and information confidential.
- Also, prior to presenting the offer, we review the objectives and priorities which we have identified. This is important as buyers review properties, learn about the market, and experience the give-and-take of offer and acceptance which commonly takes place in the hotel industry.
- At this point, we consult with the buyer/client to prioritize and reprioritize, if necessary, the importance of price, terms, closing date and personal property to be included in the selling price.
OUR PLEDGE OF PERFORMANCE
A. BECAUSE WE ARE COMMITTED TO PREPARE YOU TO BE AN EDUCATED HOTEL BUYER, WE WILL:
- Give you the most vital information on available properties.
- Keep you aware of changes in the real estate market.
- Arrange tours of the areas of special interests and key points of the area.
- Provide neighborhood information which affect future growth potential
- Check applicable zoning and building restrictions.
- Disclose all known facts about properties we show you.
- Collect pertinent data on values, taxes, utility costs, etc.
- Point out strengths and weaknesses of all properties you choose to view.
- Explain forms, contracts, escrow and settlement procedures.
- Discuss current loan markets available and loan qualifications and processing.
B. BECAUSE WE ARE COMMITTED TO HELPING YOU SAVE TIME, WE WILL:
- Provide ready access to all listed properties.
- Assist you as needed on all unlisted properties.
- Help you select for viewing only those properties that fit your needs.
- Show you only in the price range most suited to your finances.
- Provide you a list of qualified advisors and service providers.
- Arrange for necessary property inspections.
- Working together to form realistic goals so we understand your motivation, qualifications, needs wants and focusing on the information you share with us.
- Eliminate as much of the stress as possible out of the property buying process.
- Present a realistic process of the current hotel market.
C. BECAUSE WE ARE COMMITTED TO HELPING YOU FIND THE BEST VALUE,WE WILL:
- Prepare studies of property values in chosen areas.
- Perform a market analysis on chosen properties.
- Assess the strengths and weaknesses of potential offers and negotiation positions of both the buyer and seller.
- Use the most advanced valuation tools.
- Discuss logical financing alternatives.
- See that you get a complete estimate of all costs involved.
- Advise on offers on properties.
- Write and present your purchase agreement to the seller.
- Negotiate on your behalf based on an agreed negotiation strategy.
- Guide you through the offer and counter offer process.
- Discuss how to cope with a multiple counter offer situation.
- Guide you through the required actions between contract and closing.
- Bring the transaction to a successful close.
D. BECAUSE I AM COMMITTED TO YOU, I WILL DO ALL THIS, PLUS:
- Keep your personal information confidential at all times.
- Stay in touch with you from the day you start your search until the day you close on the properties you purchase.
- Coordinate all aspects of the sale and closing.
- Be reimbursed with a commission only when we have a successfully closed transaction.