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Table of Contents
How we’ll work together
Buyer’s “Homework”
Likes and Dislikes
Why Mary Sheridan?
What’s My Assignment?
What is Buyer Agency
and How does It Work?
HOW WE'LL WORK TOGETHER
When I am working with buyers, I am always Buyer's Agent, since I feel this is the fairest way to work. Tennessee law requires that there be a written agreement that the agent is working for the buyer, and I will be glad to explain why this is good for buyers as well as for me. The only "cost" is that buyers give me the same loyalty I give them.
I have been representing buyers for many years - since long before this was a popular practice, becuase it has always seemed to me the fairest way. Buyer agency is widely practiced, and sellers always pay the fee, so it does not cost buyers extra. Before we decide to work together, we interview each other, so both agent and buyers are comfortable with the obligation of loyalty which buyer agency requires.
You can see any property listed in the Multiple Listing System (MLS), as well as properties being marketed by the owners. FSBOS (For Sale by Owners) are almost always glad to give us access to their properties and pay my fee so you can have the advantage of my representing you on any properties without cost to you.
No agent can work miracles, I don't have a crystal ball, and I'm not an accountant / architect / plumber etc., but you will get the best I can give, with over twenty-five years of experience, and many courses and professional designations.
As your agent, I will owe you confidentiality and disclosure of everything I know or can find out that would help you make an informed decision, and putting your best interests first throughout. This means, among other things, helping you find and evaluate properties, and when you’ve found the best one for your needs, negotiating the best terms I can get - price, seller’s concessions, timing, etc. (Tennessee law restricts sharing of some confidential information about other clients and their properties. Ask how I try to avoid a conflict of interest.)
The confidentiality is not just concerning financial information required to make sellers and listing agents comfortable with an offer. I do not talk about my clients to anyone. (The reverse is true of you - you have my blessing if you want to tell anyone how I work. In fact, I'd be delighted; most of my clients come from the recommendations of their friends, co-workers and employers.)
The aim of our relationship is to get you as close as I can come to your perfect place, on the best terms I can negotiate, with as little hassle as possible for you. I will respect your schedule and will do all I can to use your time wisely.
There is no question you cannot ask. If I don't know the answers, I know experts who do. Part of my job will be to point out times when you will need to have other professional opinions - building inspector, financial advisor, lender, architect, etc. If there are family members or friends with special expertise whose advice you respect, please include them in your decision making.
My job is to inform and counsel you, and to make available the properties that seem most likely to meet your need. That does not include making decisions for you or pressuring you to make a decision. If I should ever seem to be doing that, it will be because I feel very strongly that we've found something very special and don't want you to miss it. I promise that I will never compromise your interests in order to make a sale.
When you're excited about a find, then my job is to do thorough research on market, area, etc., then to negotiate on your behalf for the best terms I can and get it to settlement with as little hassle as possible.
WHY AM I WILLING TO WORK SO HARD FOR YOU?
Because I want more than a "satisfied client." I want what someone called a "raving fan." I expect to do such a good job for you that you'll tell all your friends about it.
That way, I can spend all my time working for buyers and sellers and won't have to spend time trying to find people to work with. But I can't do it without your help, and I understand I have to earn the right to ask for it.
Let me get started on that project!
Mary Sheridan, Realty Executives
E-mail: Mary@marysheridan.com
Web site: www.TNTriCitiesHomes.com – new site
Web site: www.MarySheridan.com
Cell: 423-943-7655
BUYERS' "HOMEWORK"
Some things to think about that will help me help you most efficiently. You may want to get some of this information to me before we meet, or you may already have told me some of this.)
Have you owned a home before? Are you comfortable with your knowledge of the process, the decisions, the financing, or do you want the "introductory course" in home buying which I often give as we work together? At any rate, there's no question you can't ask, and the aim of all this is to make you as comfortable as possible with the process and to give you all the relevant options and information, along with the best advice I can give. Even if you've owned before, there are a lot of changes in the market, so you may still have questions. I want to give you all the information you want, but not to bore you with elementary things you already know.
Financing: This obviously involves some "need to know" information that we'd usually prefer to keep private. If you prefer, I am perfectly comfortable with your using the enclosed information and any other information I can provide to help you make general decisions, so that you would need to give details only to a lender who can help you decide how much you want to spend, how much cash will be required, and what kind of financing you want. On the other hand, you may wish to give me that information so I can help you evaluate choices more easily. It's up to you.
One advantage of having a buyer's agent representing you is that I can give you confidentiality. If I were representing the sellers, I'd have a legal obligation to tell "the other side" all I knew or could find out which would help them decide how to counter any offer you made. I was never comfortable with that, which is one reason I began offering to represent buyers several years ago. When I am representing you, they need to know only enough to be sure you are qualified for the offer you make, which may be something as unrevealing as a letter from a good lender saying that based on a credit report and preliminary application, you appear to qualify for ... whatever you need for the house you want to make an offer on.
In addition to the privacy factor, this gives you a negotiating advantage in that if you do choose to let them see the financial information sheet that is required traditionally, it need have on it only enough to reassure them, not a full disclosure which would let them see how much higher you could go if necessary.
Seeing properties:
Once you're comfortable that I know what you're looking for, do you want to see a lot of choices, or do you want me to preview for you and show you the best of what I find? Either way is fine.
Have you already decided:
Rent or buy (I can help you weigh tax advantages, etc.)
Single family house
Style: Colonial/ranch/split/cape/patio home
Mood: Traditional/Contemporary /Formal/Informal
Condo - high-rise / garden unit / recreation facilities / party room / security
Townhouse - end / number of levels / walkout basement / parking
YOUR LIKES AND DISLIKES
(The more I know about you, the more easily we’ll find what will make you happy.)
LOCATION:
Where do you work and how close do you need to be? For example, balance the considerably higher prices of some areas with the convenience of proximity and perhaps the "status" of the address. (I.e., a similar house on a much larger lot might be far less expensive if you were willing to drive a little farther
Proximity to place of worship/schools/work/recreation/public transportation
Traffic patterns - commuting routes/busy streets/easy access etc.
Resale considerations
Essential - or desirable?
Living room fireplace; family room fireplace
Garage / patio / deck / garden
Big kitchen - eating space / work space
Library / home office / computer room
Kind of heat - is this important?
Special interests to accommodate (e.g., piano, books, pet, hobby space)
Accommodation for people with disabilities
Entertaining:
Sit-down dinners at home for _____ (maximum) people
Relax by the fireplace / informal in the yard
A few friends / a "crowd" / some of both
Sleeping spaces:
How many bedrooms and bathrooms do you need?
Do you have guests for whom you prefer bedroom and bath on different level from other bedrooms? Long-term? short-term? How often?
Do you have large bedroom furniture? Need large closets?
Exterior/Yard:
How important is curb appeal? What appeals to you?
How much yard to you want, and what kind?
Small, easy-care / Large enough for back-yard cookouts/gardening
Is privacy is more important than size?
Trees/sun/formal yard/natural - Are deck / patio important?
Would a pool be desirable, undesirable, or a "maybe"?
Condition:
New or older. If older, do you want to consider only already-renovated homes?
Would you consider one that needed some redecorating (as opposed to renovation)?
Personal taste: favorite colors, dislikes, hardwood or carpet, etc. - whatever occurs to you.
Sometimes it helps to know what you've liked/disliked about other homes.
WOULD YOU TRUST THIS PERSON
WITH AN IMPORTANT MISSION?
Here's some information to help you answer the crucial question.
Outside of business, who is Mary Sheridan? I've been married to Michael Sheridan, medical school teacher and administrator, for many years. Our three daughters have married three great sons-in-law, and there are four special grandchildren. I’m a cancer survivor, in excellent health and with lots of energy. We've lived in Texas, Idaho, Georgia, Virginia, England, New York, Maryland and now Tennessee. Mike retired from USUHS, (medical school) in Bethesda, Maryland, when we came to Tennessee, but I enjoy what I do too much to quit.
When I have time, I enjoy playing the piano, reading and quilting. My main hobby, however, is people - I’ve been blessed by knowing a lot of wonderful ones.
I collect "small world" coincidences. It's amazing how often I meet people who have known other people I knew, or who have some unexpected tie to something that's important to me. (I have a lot of stories to tell, and I understand I’ve come to a good place for storytellers.) Let’s see where our lives might have touched.
I take what I do very seriously - it's a big responsibility. But I have a great time doing it and have over the years made lots and lots of good friends this way. If you think you might like to join the group, you're more than welcome.
Mary Sheridan, 423-943-7655
Email: Mary@MarySheridan.com
Web site: www.TNTriCitiesHomes.com
Newsletter: www.homeownernews.com/c/marysheridan
WHAT'S MY ASSIGNMENT?
The more specific you can be before you arrive, the more of my "homework" for you can be done when you get here, so we can get you settled quickly and without hassle. Please answer the questions below that are relevant to your situation, and give me any other information you think might help me understand how I can best serve you.
1. Do you want me to help with evaluating "rent or buy" options? Usually in this area there are many more choices if you're buying, and frequently the sellers will give so much help with closing that you need very little cash and may well be paying about the same after-taxes as you'd be paying for rent. Crucial issue is often how long you expect to be in the area. (I understand you may not know, but this helps us get to the best "rent or buy" decision.)
2. Whether you want to rent or buy, what locations are important to you (job, base, exchange, church, family, recreation, etc.)?
3. What are your preferences for kind of housing - apartment, townhouse, single family, and styles within single family (ranch, split, colonial, cape cod, etc.)? Family size, age, and life style are important, and sometimes cost and/or time for upkeep are the determining factors.
4. Tell me about your family - the more I know, the more easily I can get you into the place that best suits all the needs. (This gets into children's ages, spouse's likely kind of job, hobbies, etc.) Don't forget special needs - health-related needs like wheelchair access or first-floor bedroom and bath or special wall spaces to accommodate some treasured furniture you're bringing home.
5. Income, cash and debt information will help me put you in the best possible place on the best terms, whether it's a rental or a home of your own. If you think buying might be likely, I can get you a long way toward pre-approval if you can send such information (along with copies of the last two Leave and Earnings Statements if you are active duty). Then you'll be in a strong position to make a good offer and get in quickly if you decide to buy, or to be quickly approved for a lease.
As soon as I know a little more about you (or others you know who may be making a similar move), I can see that you get information about the specific areas that seem most likely for you and either get to work for you or put you in touch with someone who specializes in the area that you want.
You will want to be sure, whether buying or renting, that the professional working with you is also working for you. I am proud that I was one of the pioneers in this movement toward "equal rights" for buyers and tenants. Please ask me how I can help you as buyer’s agent, beyond what I could do if I were a traditional agent. An agent who is representing you can give you more help with negotiating, choosing building inspectors and evaluating their findings, making financial decisions, and taking care of all the other details of seeing that you get the best possible place and terms.
I look forward to hearing from you.
Mary Sheridan, Realty Executives
Cell: 412-943-7655
Web site: www.TNTriCitiesHomes.com
Email: Mary@marysheridan.com
WHAT IS BUYER AGENCY
AND HOW DOES IT WORK?
I have been explaining this for over twenty-five years. For several years, it was to agents who couldn’t imagine that anyone could represent buyers instead of sellers, but we’ve “won the revolution” and the real estate industry is much more balanced and fair now. Now almost all buyers have someone representing them, forms protect both buyers and sellers, and the public is getting what they thought they were getting all along, but which we were not able to give them all until the industry changed.
A buyer's agent represents buyers rather than sellers, in a contractual relationship which enables (and more important, requires!) the agent to do what is best for you - such as keeping confidential any information about you that might hurt your negotiating power, telling you everything the agent knows or can find out about properties or sellers' situations, helping you ask the right questions and evaluate the answers, negotiating in your best interests, - putting your interest first.
Not all agents offer this extra service, and not all who do are equally trained and experienced in working for buyers. One way to evaluate is the ask about their credentials. Accredited Buyer Representatives (ABR), for example, have had a very thorough course and have documented experience. If you have to ask an agent about representing you, chances are they don't prefer to do the extra work involved. (Law almost everywhere requires that any agent not representing you at least tell you so, and Tennessee law requires that you have a written agreement, just as you must have a written agreement to list your home. Otherwise, the agent has no responsibility to you other than being honest and not really being on one side or the other.
I've been representing buyers since long before it became popular. It is very gratifying now to see so many articles recommending that buyers be represented, and to watch the growth of the Real Estate Buyer Agent Council and other similar organizations.
As you interview agents, ask about professional credentials and experience. For example, I have earned several designations: Certified Residential Specialist, Graduate Realtors Institute, and Accredited Buyer Representative. I am member of several national professional organizations also and have won RE/MAX International awards over the years.
An occasional newspaper article says you should not have an agreement to work with one agent. I disagree. A better strategy is to educate yourself, interview agents just as you would if you were listing property, and put your confidence in someone who demonstrates in a trial period that she knows what she’s doing and works hard.
Only an agent who knows the loyalty is shared will give you the kind of service you want. Otherwise, you may find that agents call you only when the special homes they find do not meet
the needs of those clients who have contracts with them. Or they’ll be hesitant to tell you about properties for fear you’ll see them with some other agent. Or, the other extreme, they’ll try to show you everything whether or not it is close to what you need, just to be sure someone else doesn’t get to you first. Life is simpler when one agent knows what you want, has seen your reactions to properties, and can be trusted to preview and be selective, balancing that efficient use of your time with your desire to be sure you don’t miss good possibilities.
Some agents work only with buyers. Others, like me, market properties also. I choose to represent some sellers because I enjoy that aspect of real estate also and because after many years in real estate, people I helped to buy houses want me to help them later with selling them. And they tell their friends. But I do everything possible to avoid conflicts of interest. Ask me how I work. On my own listings, I always represent the seller. On everything else, I represent the buyers.
Please feel free to ask any questions or to talk to others I have worked for.
Mary Sheridan, Realty Executives
E-mail: Mary@MarySheridan.com
Web site: www.TNTriCitiesHomes.com Cell: 423-943-7655
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