How I Work With Buyers

I know that you are actively searching for a property and would seriously consider purchasing it if you found what is right for your needs.

You know that I am experienced real estate agent in both Oregon and Washington state and would be willing to represent you as your agent in a real estate transaction.

In the past, we could immediately start looking at available homes or parcels of land. When you decided to make an offer on a listed property, you would then officially acknowledge my representation of you as your buyer's agent in a legal real estate transaction with seller. This acknowledgement was significant because it was how a buyer's agents was paid (more on that later.)

However, due to recent national lawsuits, recently enacted laws in Washington state as well as anticipated laws being passed in Oregon - all of this has changed. 

Now, before I can officially counsel you in real estate, my policy is to enter into a Buyer's Agency Agreement (BAA) with you. The BAA is a legal document that says the buyer will pay their Buyer's Agent Commission fee for a completed real estate transaction. 

The Buyer's Agency Agreement can be non-binding which means once you do find a property to make an offer on, you are not obligated or legally required to acknowledge me as your buyer's agent - you can work with whoever you want in the transaction. 

However, once we have toured a few properties or you are confident you want me as my agent, I will ask that you sign a binding BAA which does require you to acknowledge me as your Buyer's Agent in a real estate transaction. The BAA formalizes the Buyer - Agent relationship analagous to how the Listing Agreement formalizes the Seller -Agent relationship in terms of how the agents received compensation.

There is quite a bit more to this and I would be happy to talk to you about the details so that you will be fully information and not only comfortable but confident when you sign the BAA.

“I highly recommend Paul Rago as a real estate agent. As a first time homebuyer, I found Paul to be thoughtful, patient, and well knowledgeable. He found the perfect home for me, for the perfect price.”   

– A Satisfied Buyer 

Utilizing the technology of the Multiple Listings and Realtor® Associations I am a member of, I will design a custom search of available properties which will automatically e-mail new listings to you. You might send me back a message such as: “The house on May Street looks interesting…How big is the workshop?” More than likely, I have already viewed the property when it was newly listed and I'd be able to answer you quickly. If not, I will preview the house for you, and/or obtain additional information from the listing agent, and/or meet you at the house for a private showing.

My goal is to develop an intuitive and accurate sense for recognizing homes that will excite you, and you will be prepared and confident when it is time to make an offer.

Once we find a property you’d like to purchase, I will devise a strategy based on many factors. Some considerations include the your finances, the condition of the property, the location, asking price, the listing agent, how many other offers there are, the seller’s situation, how long the property has been for sale and how much you love the property. I will advise a plan of action, which we follow if you concur, or modify if you don’t.

When your offer has been accepted, we enter the escrow period. “Escrow” is the period of time after offer acceptance where there is a simultaneous payment to the seller and transfer of title to you, the new owner. An escrow officer from a Title company acts as a neutral third party and hold funds and documents during the escrow. A typical escrow lasts 30 to 45 days, and it is during this time that you act on any contingencies you may have (a contingency in the offer allows you to terminate the purchase without liability), such as inspecting the home or obtaining final loan approval.

Closing the escrow involves signing a lot of paperwork and paying out a significant amount of money. During escrow, I will keep you apprised of exactly what you need to do and when, interpret for you and do my best to ease what most people find to be an emotional and stressful time. The end result is me handing you keys to your new property.

“Paul was very responsive and an absolute joy to work with. My wife and I both have recommended him to our friends and would do the same to anyone looking to purchase a home.” 

– Satisfied buyers