Buying a Home and Planning a Wedding at the Same Time: Should You Do Both?
Congratulations on Your Engagement!
Wedding Planning and Home Buying: Can You Do Both at the Same Time?
Now the fun begins! Planning a wedding is both exciting and stressful. However, our Exclusive Buyer’s Agents like to think that with careful wedding planning and an ample lead time, these few months will be filled with excitement, anticipation, joy, and love.
During this whirlwind engagement period, many couples choose to buy a home or condo together. Buying a home at the same time as planning a wedding can add another layer of pressure. Buyer’s Edge has worked with many newly engaged couples over the years, so we understand the information overload and the time constraints of planning for and orchestrating both a wedding and buying a home.
How to Find a Buyer’s Agent in the DMV?
At Buyer’s Edge, we know that homebuyers are tech-savvy and can do a lot of the initial legwork independently. We welcome you to do that. The more educated you are in the home buying process, the better it is for everybody. However, somewhere along the line, most buyers reach out to a professional Realtor to help them through the complicated process.
What is an Exclusive Buyers Agent, and Why Should You Care?
Today most consumers understand that they need to hire a Buyer’s Agent, so they have representation throughout the entire home buying process. But did you know that not all Buyer’s Agents are created equally? There is a difference between an Exclusive Buyer’s Agent (EBA) who works for an Exclusive Buyer’s Brokerage Real Estate Company and a Buyer’s Agent who works for a Traditional Real Estate Company. By choosing one side in a real estate transaction, the clear-cut, single-focus agency relationship of EBAs offers homebuyers a better way to buy a home or condo. They represent homebuyers 100% of the time – never sellers. They have no company MLS listings to sell and receive no bonuses for selling in-house listings. As a consultant for homebuyers, EBAs are in the unique position to offer homebuyers complete transparency and 100% loyalty with no conflicts or competing interests.
Buyer's Agents who work for a large, traditional real estate company do not provide this same level of real estate services, commitment, representation, or guarantees as an Exclusive Buyer's Agent (EBA) who works for an Exclusive Buyer Brokerage Real Estate Company. A Buyer's Agent and an Exclusive Buyer's Agent (EBA) are different animals. Luckily, for homebuyers in VA, DC, and MD, there are many reputable and experienced Exclusive Buyer's Agents to work with.
How to Chose Your Buyer’s Agent - What is Real Estate Buyer Agency?
It is critical that homebuyers choose their real estate agent with purpose and understand how buyer agency works.
Most consumers are aware that lawyers and law firms should not represent opposing parties in litigation. Unfortunately, in the traditional real estate model, this is exactly what happens. They represent both sellers and buyers in the same real estate transaction every day. In order to try to work around the inherent conflicts of interest, the industry has come up with a number of “hat-tricks” to confuse consumers.
The classic hat-trick is to ask buyers at the eleventh hour to switch to another buyer agent within the same company or team if they want to buy a company listing. They also may ask buyers to consent to dual agency.
With an Exclusive Buyer’s Broker (EBA), homebuyers are never asked to consent to dual agency or “designated buyer’s agent” representation. Since EBAs and their Broker choose not to represent sellers, they are never in the shady position of “representing” both the seller and the buyer in the same real estate transaction.
Some homebuyers dream they can avoid conflicts if they work with a dear family friend or their "Great Aunt Mildred the Realtor." They think, “Surely, a trusted friend or relative will be loyal to me.” Unfortunately, as much as they would like to be, even Great Aunt Mildred has to abide by the laws of the land and real estate agency. If she works for a large, traditional real estate company, and you want to buy her listing or one of her Broker’s company MLS listings, she must either represent you as a Dual Agent, or you must agree to Designated Buyer's Agency. She must ask you to change your agency relationship in writing in the MIDDLE of the home buying process. In both these cases, Great Aunt Mildred or any agent in her real estate company can no longer represent your best interests over the sellers.
Sometimes You Need to Trust That Someone is 100% On Your Side.
Buying a Home is One of Those Times.
Many homebuyers still don't see how these conflicts are such a big deal. Don’t forget, you hired a Buyer's Agent in the first place to represent your best interests, negotiate hard on your behalf, and secure the best possible terms and conditions for you, not the seller. Here’s some homebuyer help. If you’re planning a wedding and buying a house at the same time, this wedding day analogy may be a fun way to understand what you’re up against if you don’t choose your real estate agent with purpose.
Wedding Day Analogy is a Fun Way To Understand How Real Estate Buyer Agency Works When Buying a Home
1. SETTING THE STAGE FOR A
WEDDING DAY FIASCO.
(Homebuyers Searching for Homes to Buy in the DMV with a Real Estate Agent and Broker that Represent Both Buyers and Sellers.)
Please imagine for a minute that you are the stunning Bride dressed in expensive wedding attire, walking down the aisle to the Groom of your dreams. This moment has been years in the making. Let's be honest, you dated many, many frogs. Then you finally meet this amazing person. There is trust, love, and commitment that has been built over a long period. You’ve shared secret hopes and dreams. Your family and friends also are heavily involved and committed to this union. Finances have been discussed and disclosed. The day is finally here! Yippee! Joy! You nervously walk down the aisle but feel secure in the knowledge that you are on the right path to a happy, successful, and prosperous future.
2. WALKING TOWARDS YOUR PARTNER ON THE BIG DAY, SOMEONE INTERRUPTS THE WEDDING CEREMONY AND YELLS, “WAIT! OOPS! STOP! STOP! STOP! THE GROOM IS ALREADY MARRIED!"
(Traditional Real Estate Company or Your Buyer’s Agent has a Listing Agreement with the Seller of the Home You Want to Buy.)
There's a little problem here that the Groom failed to mention. How would you feel if your Groom had to back out at the last minute for some crazy reason-like this wonderful partner is already married to someone else?! Oh, no, how sad! How did this happen? Is the wedding off?
3. NO, WAIT! THE DAY IS SAVED. LET’S SWITCH AND GIVE YOU A NEW "DESIGNATED GROOM!"
(“Designated Buyer’s Agent” is Offered as an Alternative to your Original Buyer’s Agent When Their Real Estate Broker has a Listing Agreement to Represent the Seller’s Best Interests and to Get the Sellers the Best Possible Price at the Best Possible Terms.)
The Groom has a brilliant idea, so you don't have to lose everything in this sad turn of events. After all, your Groom really, really likes you. This Charmer grabs one of their good-looking attendants up at the altar and offers them up as a "Designated Groom."
They ask, "What do you think? I'm truly, honestly sorry that I wasn't completely transparent with you from the start, but, trust me, this unknown "Designated Groom" is totally experienced! I know it won't really be the same. No one will actually love you or be loyal to you, but at least you still will be married to someone, anyone, at the end of the day."
3. NO, NO, WAIT!
IF YOU DON’T LIKE THIS OPTION, HERE'S ANOTHER FANTASTIC IDEA. WILL THE BRIDE CONSIDER A "DUAL MARRIAGE?"
(Who Does a Dual Agent Represent in a Real Estate Transaction?)
Sensing resistance to this ridiculous new proposal, the Groom explains an alternative plan.
They say, "If you don't like that idea, then maybe, you'll be fine if we have a "Dual Marriage."
This is how dual agency works… “I promise to love you both "kind of" the same.” However, in a "Dual Marriage," you must sign at the end of the aisle that my first Bride/Seller will be in the #1 position. That means I can never do anything that will benefit you over my #1 Bride/Seller. Will you be ok with a "Dual Marriage, honeybun?"
Being married to two people at the same time is not legal in the USA. Law firms and lawyers also never represent people on opposing sides, but in the crazy world of Real Estate Land - it still is possible! Homebuyers in the DMV have many options they should explore before they buy a home or condominium.
4. HERE’S A BETTER OPTION WHEN BUYING A HOME IN WASHINGTON, DC, MARYLAND, AND VIRGINIA. DON’T BE BAMBOOZLED.
(Hire an Exclusive Buyer’s Agent (EBA) Before You Start of Your Home Search. Choose with Purpose.)
Homebuyers can avoid this kind of wedding day altar fiasco if they choose to be represented by an Exclusive Buyer's Agent (EBA) who works for an Exclusive Buyer Brokerage Real Estate Company when buying a home or condo in the DMV.
Since 1991, our Exclusive Buyer Agents at Buyer's Edge | BuyersAgent.com have been helping homebuyers all over the Washington, DC Metro Area locate the best homes that fit their lifestyle. We help our clients evaluate properties critically and correctly. We then negotiate on their behalf with their best interest in mind to secure the best possible price, terms, and conditions for the home with no competing or conflicting interests.
Since 1991, our non-traditional real estate company has successfully served home and condo buyers exclusively in Virginia, Maryland, and Washington, DC.
