This is our most commonly used relationship by Colorado Heritage Real Estate Agents when working with buyers. In this agency agreement, the realtor represents the Buyer exclusively (exception-see Transaction Broker) with a written Colorado mandated real estate contract which identifies the type of properties the buyer wishes to purchase, price range and agent's duties to the Buyer and Buyer's obligations to the real estate agent.

A seller's agent works exclusively for the seller. At Colorado Heritage Real Estate, all our listings are initiated as Seller's Agent with the provision that if the listing Broker is working with a buyer interest in buying that seller's property, both the buyer and seller agree to a change of status to Transaction Broker. (exception-see Transaction Broker) This relationship is established with a Colorado approved listing contract which identifies the price, listing period, commission and the agent's duties to the seller and the seller's obligations to the real estate agent.

If a buyer represented by a buyer's agent chooses to see information on a property listed by the buyer's agent, then, the agent, by Colorado law, will become a Transaction Broker. The terms to convert to a Transaction Broker will have been previously agreed to by the seller and buyer through their respective Listing Agreement or Buyer's Agency Agreement.

As a Transaction Broker, any adverse material facts are to be disclosed to you, the buyer. What you, the buyer, are willing to pay for the property for what the seller is willing to accept for their property is never disclosed to either party. Any personal information about either party remains confidential unless that information is detrimental to the transaction. (Example: Buyer has no credit, seller is in foreclosure.)

As a buyer you can also choose the Transaction Broker relationship in an purchase instead of a Buyer's Agency agreement. A Transaction Broker is not an agent or an advocate for the buyer with this relationship.

Once you have found the "right" property, do not wait to make and offer. Other buyers who have seen the property, my be writing their own offer while you are still "contemplating." The majority of properties (sold) in this area are within 3 percent (3%) of the listing price. A typical (accepted) offer would be within 97 percent (97%) of the list price. While there are always exceptions, do not expect to find a "steal" in this market. In our experience, it is generally the "low-ball" offer that ends up with a higher counterproposal from the seller who probably feels that you are not really serious.

In our market area, it is not uncommon to see multiple offers on the same property. If you would be very disappointed to lose a property to another buyer, make your first offer as strong as possible. If a seller receives more that one offer, he/she can respond to whichever offer he/she chooses. Even if you are the first to make and offer, the first response you receive could be "sorry, someone else just bought your dream home."

First and foremost, select a realtor you can trust. Look for an agent that has been in the market for sometime and really knows the area. Make a commitment to one realtor, or team, who will be dedicated to your goals and who will constantly keep you informed about the market conditions and available properties.

When you choose a realtor, look for an agent who has the experience and education to benefit you. Whether it is a Certified Residential Specialist (CRS) or a Graduate of the Realtor Institute (GRI), you will know that you are working with one of the top agents in the business.

The Mohrlang, Jones, Ward team will provide information on any property currently listed on the market through the Multiple Listing Service (MLS). Once the agent knows your needs, he/she will make sure your preview all the appropriate properties, no matter which company has the listing. As a final note, look for enthusiasm, professionalism and a service oriented attitude.

If you use these criteria to select your agent or team, buying a home will be an enjoyable experience.