About Jim Helms
I organized Knoxville Discount Realty to give home buyers and sellers a choice on purchasing less than a full bundle of services that traditional brokers provide. You may not need or want all these services. We are Fee-For-Service Brokers, also called “flat-fee” brokers or “limited-service” brokers. We offer an MLS only package to the seller for a flat fee of $299.00. If the seller wants additional services, we have an itemized list to choose from for an additional fee. We will not represent the seller on the buy side of the transaction. We will not act as a “dual agent” putting our selves in a position to engage in a conflict of interest.
The Internet
The internet has enabled consumers more easily to educate themselves about all facets of home buying and selling. We want our clients to be informed. The Federal Trade Commission and the Department of Justice has some great information about real estate. We agree with them on competition and giving the consumer all the information they need to make informed decisions.
Who’s On Your Side?
Even if “your” broker learns that the seller is willing to cut the price or pay some of the closing costs, you may be kept in the dark. At the same time, information you give to “your” broker, such as how much you really can afford and how soon you need to buy, must be reported back to the sellers, giving them a negotiating advantage.
Straight Talk
Tennessee now requires “Disclosure of agency” by which any agent is required to disclose his or her legal relationship with a buyer or seller “at first substantive contact,” That if you, as a prospective buyer or seller, start telling an agent information that would compromise your bargaining position in any way, the agent should immediately explain “agency” and give you a choice in how you want to move forward. Unfortunately, some don’t so it’s up to you to protect yourself.
Why choose KDR, a buyer’s agency? While any agent will arrange property showings, suggest sources of financing, provide accurate information, explain the forms and agreements, and monitor the entire process, a KDR buyer’s agent can perform services for you that many of the seller’s agents can’t, such as show you reasons not to buy a particular property; negotiate the best price and terms for you; include contingencies in the contract that protect you, rather than the seller as in most standard contracts; and keep confidential any information that could hurt your bargaining position.
We at KDR will be in your corner all the way. We play HARDBALL as your advocate. We act in a sense like an attorney or an accountant to protect you the buyer, so that you can make an informed decision and buy the best home. Under the law of agency, we have a fiduciary responsibility only to you the buyer. Those responsibilities include undivided loyalty, confidentiality and full disclosure. Any information offered by a buyer to seller’s agent, for example, must be passed on to the seller. We don’t put ourselves in a position where their’s even the potential for a conflict of interest. We do not represent sellers on the buy side, we will put the sellers home in the MLS for a fixed one time fee of $495.00, signing an exclusive agency listing agreement.
Please read our whole Web Site and when you are finished, I think you will be sold on a buyer broker agency and what it can do for you in buying a home. We at KDR will appreciate your business and we think you will be well pleased with our work .