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John Piekos
SplitRock Real Estate, LLC
9 Windy Way
West Tisbury MA 02575 |
SPLITROCK REAL ESTATE, LLC
PO BOX 1690
WEST TISBURY MA 02575
508-696-9009
©2004-2016 SplitRock Real Estate, LLC
All rights reserved.
Martha's Vineyard Real Estate Exclusive Buyer's
Agent |
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Peter C. Fyler
Owner/Broker
REALTOR®, CRS®, GRI® |
Do you want to learn about the home buying process step-by-step
from identifying the right property to that all important day
when you receive the Deed to your dream home?
Do you want to learn about all the various financing and tax issues?
Do you know the difference between a TRUE Exclusive Buyers
Agent who exclusively represents Buyers and an agent working
in a traditional real estate office who can represent you one
minute and the next minute 'transition' to work as a Dual Agent
representing neither you the Buyer nor the Seller?
Do you know what services a TRUE Exclusive Buyers Agent who
exclusively represents Buyers can guarantee you that a Dual
Agent cannot promise you?
Do you want to know how a TRUE Exclusive Buyers Agent who exclusively
represents Buyers gets paid?
The answers are all here at SplitRockRE.com.
So, please take your time and read through the user friendly
information I have put together FOR BUYERS ONLY. Start your
real estate education today. You don't have to be rich
to be represented by SplitRock Real Estate, you just have to
be SMART!
You will want to bookmark this page in your Favorites folder
so you can come back often to review Peter's
Picks to preview what I believe are potentially above average
luxury home and land opportunities in Edgartown, Oak Bluffs,
Vineyard Haven, West Tisbury, Chilmark and Aquinnah, or to research
the most recent Sold Property Transfers and Sales Trends.
Martha's
Vineyard Real Estate
BULLETIN BOARD
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Martha's Vineyard Quarterly LINK Sales Report
Read here> MV Third Quarter 2021 Sales Summary
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Buyers Beware
"Fake" Exclusive Buyer Agents on the Rise
Over the last several months, the National Association of Exclusive Buyer Agents
(NAEBA) has seen an increase in the number of real estate agents claiming to
be Exclusive Buyer Agents in spite of working within a company that takes listings
or even taking listings themselves. Per the industry definition, an Exclusive
Buyer Agent never works with sellers and works within a company that does not
take listings. Because an Exclusive Buyer Agent has no inventory to sell, they
can work as a true advocate for the buyer regardless of which home is viewed
or purchased.
According to the President of NAEBA, the definition of "Exclusive Buyer
Agent" is based upon the company the agent is affiliated with taking no
listings. This concept goes back to the Common Law of Agency. In most states,
when hiring a real estate agent, a consumer is actually contracting with the
principal broker (company) and the agent is simply acting on behalf of that
broker. Therefore, in order to state that one works with buyers exclusively,
the broker, and as such the whole company and all of its agents, must actually
work with buyers exclusively, not just one specific agent. In spite of a few
states no longer following the Common Law of Agency, the legal industry definition
stands.
About NAEBA
The National Association of Exclusive Buyer Agents (NAEBA),
created in 1995, is an organization reprsenting real estate companies dedicated
to providing representation to BUYERS ONLY. In order to be a member of NAEBA,
a company (brokerage) cannot list homes for sale or represent a Seller in any
way. This restriction to represent one side of the real estate transaction
only avoids conflicts and ensures that the interest of the Home Buyer is
protected at all times from searching for the right property, negotiatiing the
best price and terms, the home inspection, receiving the financing commitment,
and straight through to the all importnat Closing.
The President of the National Association of Exclusive Buyer Agents suggests
that it is easy to verify if you are hiring a TRUE Exclusive Buyer Agent. Simply
ask this one question when interviewing the agent you are considering to represent
you: "Does your brokerage take listings, sell homes, or represent sellers
at any time?" If the answer is no, you have a true Exclusive Buyer Agent.
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A
Former Client tells me why he believes the decision to
Hire an Exclusive Buyer
Agent is a "No Brainer".
Dear Peter,
As an Island homeowner, I find that friends often ask about our home buying
experience with the hope that we will provide guidance to facilitate their search.
My first and only recommendation: Hire an Exclusive Buyer Agent. They will represent
you throughout the process from start to finish. Although I am not a real estate
professional, I feel the lessons learned and the experience gained during my
own home purchase with you by my side provided me the unique perspective to
offer advice to others seeking the Martha's Vineyard lifestyle experience.
While I sense more people today contract for the services of Exclusive Buyer
Agents than in the past, many home buyers still just don't think about it or
don't believe they can actually have someone passionately represent their best
interests at all times. This was certainly my friend's mindset. In part, I think
it is because people believe it will be more costly. They think there has got
to be a catch. I thought you might be interested in how I describe the benefits
of your type of service to my friends. (Read
More)
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Just looking?Subscribe now to my FREE Buyers
Basic e-Newsletter. Once a week, you will receive an up
to the minute market analysis report of all newly listed properties
in all towns on Martha’s Vineyard as well as price reductions,
properties sold and properties that are under agreement. My
subscribers include home buyers, home sellers, bankers, mortgage
lenders, appraisers, attorneys and even real estate licensees.
People who want to keep current on the market follow me.
Contact me to find out how you can receive my VIP Property
Alert service providing information on newly listed
homes, land, condos and commercial properties. The VIP Property
Alert service is tailored to your specific unique search criteria.
If your interest has gone beyond a casual curiosity and you
are ready to get serious about educating yourself in order to
make the right investment decision in Martha's Vineyard real
estate, then you need representation. I guarantee to provide
you with the in-depth education you must have in order to make
that all important life-changing decision. Contact me to become
an buyer client and receive my client level Inner
Circle e-Newsletter information service.
This is not one of those canned monthly template newsletters
that is 99% generic fluff and 1% Martha's Vineyard area specific.
This is 100% timely information presented from my keen perspective
as a full time real estate professional and published every
week. The Inner Circle e-Newsletter is only available to Buyer
Clients who have a passionate dream and a sincere desire to
make that dream come true. When you sign on with me you will
experience true Exclusive Buyer Client level service. SplitRock
Real Estate represents the Buyer 100% exclusively providing
service, 100% of the time. My task is to find the best property,
with the best terms that suits your needs no matter how long
it takes. I want you to be informed and comfortable with any
buying decision you make. My Clients are pleased with what I
do for them and eager to recommend my service to their friends.
Here is what two of my Clients wrote about the Inner Circle
e-Newsletter:
"Your Inner Circle e-Newsletter is extremely interesting.
Really wonderful. I especially like that you permit a lot
of your personal opinions to seep through, you humorously
point out the foibles of overpricing and price reductions,
and yet you simultaneously identify good opportunities in
all price levels. It seems to me almost anyone, from a young
family with modest assets, to a buyer looking for a very substantial
property, would find your Inner Circle e-Newsletter very helpful."
M. G., Greenwich, CT
“As a client, your Inner Circle e-Newsletter property
commentaries have become a key part of my weekly research. If you
ever move to a fee-based newsletter format, count me in as a paid
subscriber.”
Mike S., East Orange, NJ
Do you have any questions about Martha's Vineyard real estate
-- or real estate in general? E-mail me, or call me. You will
quickly learn that I know Martha's Vineyard, and I know this
real estate market. I am a studied and seasoned professional
and member of the National Association of REALTORS®
with more than two decades of full-time experience in the Martha's
Vineyard luxury real estate market. All communications are held
in the strictest confidence, so do not worry; I will never rent,
sell or share your personal information.
Respectfully,
Peter C. Fyler
SplitRock Real Estate, LLC
Martha's Vineyard Real Estate Exclusive Buyer Agent
"Sellers' Agents and Dual Agents do not and cannot by law give a
Buyer the same degree of loyalty as an Agent who acts on behalf of
the Buyer."
Oklahoma Supreme Court ruling - June 1, 1999
 A Boston Globe article reported, "While
buyers are under less pressure to make quick decisions, there
are many more homes to choose from and thus more homework involved,"
said David Wluka, president of the Massachusetts Association
of Realtors® (MAR).
The Globe went on editorializing, "So buyers: Be patient, but
be ready to strike. Get preapproved for a mortgage and have
other financial paperwork ready. Take advantage of a seller's
calendar; if, for example they're itching to move, or want to
wait until the school year ends. Get to really know an area,
what's available there, and how home prices have moved recently.
And, get help -- a (exclusive) buyer's agent,
that is...because they can often find out what a seller's situation
is for you. It's a good deal for the buyer, too; in most cases,
listing brokers split their commissions with a buyer's agent."
"Having an exclusive buyer's agent gives you more of an advantage
during the negotiation process because the seller is never aware
of the price you are willing to spend -- unlike listing agents,
who are only trying to negotiate the highest possible price
for the seller," said Barry Nystedt, president of Mass Buyer
Agents.org.
Let me ask you a question. How do you begin your search for that
perfect property you’re dreaming of?
- Do you start your search on Zillow or Realtor.com assuming
that the information is accurate?
- Do you surf the Net typing in search phrases on Google,
and then going from one broker’s website to another
looking to see what properties they’re marketing?
- Do you thumb through the newspaper and look at the nice
display ads or scour all the tiny classified ads in the real
estate section?
- Do you pick up one of those colorful real estate books at
the supermarket and try to make sense of all the ads that
look the same?
Of course you do.
But did you know, when you select one of those Zillow, Realtor.com
(etc) ads you will either have to select the seller’s
agent to contact , or an alternative real estate licensee that
most likely knows absolutely nothing about the property, but
is willing to spend a huge amount of money to one of those aggregators
in hopes of capturing ‘leads’.
And did you know, when you call on any of those newspaper or
magazine ads, the listing broker and all of the agents in that
office represent the SELLER, not you. Sure, they can offer you
Disclosed Dual Agency, but they cannot offer you 100%
buyer advocacy (Definition of Advocacy: active support;
especially the act of pleading or arguing for something),
and in my opinion dual agency introduces the obvious possibility
for conflict of interest.
SplitRock Real Estate, a TRUE Exclusive Buyer Agency, does
not list property for sale and works ONLY with Buyers 100% in
order to completely remove the potential for any conflict of
interest.
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