Showing our own listings at R+K Real Estate is part of taking a listing in the first place. But, it's important for the home buying public to know there are some ethical boundaries and procedure to consider. If you're interesting in seeing a listing presented by R+K Real Estate, here's how to go about it!
We often find that the public doesn't fully understand exactly how real estate agent represent their clients. That's OK, it can actually get a little complicated! To keep this as simple as possible here's a few basic points. First is that if we have the listing, we are representing the Seller ONLY. Dual Agency is not allowed in Kansas, and for good reason. Ethically, you can't represent two opposing parties at the same time. However, a buyer can choose to be unrepresented in a transaction. So if you're interested in seeing one of our listings, there are two basic paths to chose from:
- If you're already working with a Buyer Agent or plan to use a Buyer Agent, they should be the one to get you into the home. We do not wish to step on your agents toes! Showing the home is part of their duty to you. So call your agent and have them schedule your showing!
- If you don't have an agent or don't wish to use one in buying one of our listings, we do have a solution: it's called a variable-rate commission. Our agreement with the seller defines the commission and any percentage being offered to the Buyer Agent. However, if there is no Buyer Agent we do not charge our seller as if there was one. In such circumstances we reduce the Buyer Agent fee down to 0.5%. This may be an opportunity for our seller, a buyer, or both to save some money on the price of the home!
We do not offer the 2nd option to everyone. First time home buyers should really have an agent. If they don't, we will help them find one! For more experienced buyers, the 2nd option may have some appeal. We take each on a case-by-case basis.
If, after reading this, you wish for us to show you one of our listings here's the how to proceed: In order for us to show it, we have to have either a pre-approval from a local lender or for cash buyers, a proof-of-funds letter. We will not show any listing without one or the other!
For a local lender, we recommend you contact any of the two lenders below:
- Casey Bowman, Prime Lending 785-760-1109
- Diane Fry, Fairway Mortgage 785-423-6721
After you have that pre-approval in hand, email it to Ryan at ryan@exploringlawrence.com and give us a call to set up a day and time to check it out!