Charlotte Katz

From Melanie Payne at the Fort Myers News Press:

I don’t think most people are any match for an experienced salesman. That’s why I’m advocating that, when buying property, people hire what’s called an exclusive buyer’s agent.

I know this will anger my real estate agent friends – even the one I’m married to – but I think the cards are stacked against homebuyers in sales transactions, and they need someone on their side.

As an example, here’s the story of Dinah Sgrignoli.

Sgrignoli bought in the manufactured home community of Jamaica Bay in south Fort Myers.

Sgrignoli worked with Thomas Wyant, who works at Jamaica Bay. Wyant, who holds a real estate license listed as inactive, steered her to a $12,500 home, promising a roof leak and air conditioner would be fixed before she moved in.

Sgrignoli, who was living in Hershey, Pa., developed what she considered a friendship with Wyant and the staff at Jamaica Bay as they worked through the purchase.

So when they told her that the items were taken care of, she believed them.

But about two weeks after moving in, Sgrignoli had to dole out $15,500 for repairs, a new roof and air conditioner.

“I’m not a stupid person, but I trusted him,” Sgrignoli said of Wyant. “He took advantage of me.”

I tried numerous times for over a week to speak with Wyant. He and the general manager were not available when I called and didn’t respond to messages I left.

Sgrignoli made a wrong assumption that Wyant was her real estate agent. Actually, he was working for the mobile home owner and not selling real property at all. If Sgrignoli had contracted with a buyer’s agent when she came looking to buy property here, she would have been protected from this raw deal.

“Their client is not you,” said Benjamin Clark, president of the National Association of Exclusive Buyer Agents. “That (agent) has a legal obligation to try to convince you to buy the home for the most money they can sell the home for.”

Clark said that doesn’t mean agents are unethical, but agents at exclusive buyer agencies are free of conflicts of interest.

You avoid a lot of problems when you don’t give the other side the opportunity to cheat you,” Clark said.

Clark said consumer agencies encourage the use of an exclusive buyer’s agent when purchasing a home. Even HUD, in its brochure on buying a home, states: “If you want someone to represent only your interests, consider hiring an ‘exclusive buyer’s agent,’ who will be working for you.”

Charlotte Katz is one of the few exclusive buyer’s agents I found in the Fort Myers area.

Katz said that after getting her real estate license in 1994 she tried selling homes, “and I hated it.”

But she loved helping people buy homes. Katz, a broker, doesn’t have agreements to sell homes, so she’s not steering you to her inventory. Also, you don’t have to pay Katz; she gets her money by splitting the seller’s commission fee.

“This whole idea of a buyer’s broker is beginning to catch on,” Katz said. Still she cautions people to be careful when choosing a buyer’s agent. Make sure the agent’s license is not with a regular broker.

Although I really do think most real estate agents wouldn’t take advantage of someone to make a deal, it doesn’t mean consumers shouldn’t protect themselves from those who would.

And getting an agent who puts the buyer’s needs first seems the best way to get that protection.

To contact the National Association of Exclusive Buyer Agents go to naeba.org or call 800-986-2322.