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Nicoya Real Estate

Buyer's Agency

Try buying property on your own in Costa Rica, and you will find that unless you know the region of interest well, speak the language, and have superhuman patience, it will be a formidable and possibly dangerous (to your pocketbook) task. Tico time is a reality in Costa Rica, and it is extremely difficult to explore a variety of properties, choose one, and then negotiate and close a deal in a short period of time. But as you know, besides having a great lawyer, the best and safest deals take time. The problem is, trip after trip to Costa Rica to hopefully find one or two properties of which you have interest can be extremely costly, especially if you continually return back to your home country empty-handed. Another problem is you are dealing with a seller’s agent, who no matter how friendly and helpful, works for the seller, not you, and is trying to make the best deal for his/her client. You may also find you are unaware of the correct price to pay for the property and that it puts you in an uncomfortable bargaining situation.

Enter the BUYER AGENT...

What is a Buyer’s Agent?

Simply put…a Buyer’s Agent, or Buyer’s Broker, represents ONLY the BUYER in a real estate transaction. Contrast this with the fact that Real Estate Agents and Brokers represent the seller, unless hired by you, and are duty bound to the seller. This means the majority of sales agents you meet are loyal only to the seller and must get the highest price possible for the seller. Any personal or financial information you discuss with the agent is NOT confidential and will be passed along to the seller. Therefore, you (the buyer) are not a client, but a customer.

I, as a Buyer’s Agent, will represent only you, the Buyer. I am obligated by fiduciary duty to seek out the lowest possible price for you and pass along all relevant information that increases your bargaining position, while maintaining confidentiality regarding your personal and financial position.

How We Benefit You?

  • We save you time and money. You tell us your parameters, and we locate the property for you at the best price.

  • We are duty bound to you. We work exclusively for you, not the seller, and we always promote and protect your best interests.

  • Stronger negotiating strategy. We view the entire transaction from only your (the buyer’s) perspective.

  • Non-biased approach to selling. Regarding properties of interest, we present the positives and negatives to you.

  • Access to a larger marketplace. We have first-hand knowledge and access to unlisted as well as listed properties, and we are motivated to show ALL properties available which meet your stated requirements, unlike the seller agent who will show you only properties on which they receive a commissions.

  • Confidentiality. Your financial and bargaining position will be kept confidential, as well as your identity, if needed.

  • More counseling, less selling. We will place emphasis on helping you evaluate different properties and alternative courses of action. Then we pursue the best deal possible once you have elected to go forward with negotiations.

  • Information access. We inform you of information that strengthens your bargaining position.

  • All offers represent your best interests. After consulting with you and receiving approval, we present offers with your best interests in mind.

  • Communication. We provide the communication between you and the seller and/or his/her seller agent.

What is the Cost?

Buyer’s Agents work for the Buyer, not the Seller; therefore, they do not collect commissions from listings. Buyer’s Agents are compensated a variety of ways. Here is a list and explanation of some of the more common methods.

  • Retainer Fee. An advanced payment for services returned or deducted at closing by a seller-paid fee, commission split, or percentage fee. Many times, retainer fees are used as a screening device by Buyer Agents to determine the seriousness of a Buyer.

  • Seller-Paid Fee. Some sellers without agents agree to pay all or a portion of the Buyer’s Agent fee on behalf of the Buyer at closing.

  • Commission Split. A Seller’s Agent will sometimes agree to split their commission with the Buyer Agent while the remainder of the Buyer’s Agent fee is paid by the Buyer.

  • Percentage Fee. A percentage fee based on the selling price of the property paid by the Buyer.

  • Flat Fee. A flat fee based on the estimate by the agent for the amount of work and skills involved. This fee can be paid by the Buyer, commission splits, or the Seller.

  • Every Buyer is different. Every Seller is different. Every situation is different. Our goal is to sit down with you and discuss the variety of scenarios that can take place in any negotiation and have everything clear and authorized in a contract, so there will be no surprises.


For more information on Buyer’s Agency, take a look at these sites:

“Does Your Real Estate Agent Work For You?” http://homebuying.about.com/cs/dealingagents/a/agentdisclosure.htm