FAQ for Buyers

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Does the buySmart! Buyer Plan apply to any house?
In short…yes. It doesn’t really have to do with the house, but more to do with the work and time involved in finding the house.

When is the retainer fee due?
It is due when you hire us.

Is the retainer fee refundable?
In most cases no. There are some exceptions to this rule. Contact us if you would like to discuss your situation.

What’s the difference between the showing agent and the buySmart! buyer agent?
When considering if the buySmart! plan is for you, please remember this plan is targeting a very specific type of buyer. This type of buyer doesn’t need the agent to consult them on the pros and cons of every house they look at or need the agent to do thorough market analyses. A well experienced buyer may simply need to look at houses in order to eliminate them from consideration. A showing agent is a licensed real estate agent employed by VerraTerra for the express purpose of getting you into houses. Their time is billed on an hourly basis whereas the buySmart! buyer agent relies on a successful closing to earn any money. A showing agent’s responsibility to the client is just getting them in to see homes. The buySmart! buyer agent is responsible for writing the offer, negotiating on behalf of the client, inspections, etc.

What happens if the commission offered by the seller isn’t enough to cover the buySmart! closing fee?
The buySmart! closing fee is a flat fee and is collected regardless of the amount of commission being offered to the buyer’s agent. If there is not enough commission to deduct our fee from, then the buyer will need to cover the remaining balance out of pocket. To put it into perspective, at a typical 3% buyer agent commission, .. to fall under our $4500 closing fee, the property would be less than $150,000. If you are considering a property in that price range, you might as well hire us under the traditional buyer plan.