Taos Real Estate

I've just announced that Gallery Realty of Taos is now a Buyer Brokerage, no longer taking listings. Buyer brokerage isn't new, but it has only recently evolved into a respected and essential method of practicing real estate. In a few states, the practice of "sub-agency" is still around, but is disappearing quickly. Sub-agency occurs when the broker or agent showing properties to the buyer is a sub-agent of the listing broker. This places them in the position of owing fiduciary responsibilities to the seller, not their buyer customer. In other words, they work for, and must protect the interests of, the seller.

Of course, this leaves the buyer in a precarious position, as they are really not represented at all, and the agent showing them properties is required to try and help the seller get the highest possible price for their property. For this reason, most states have done away with sub-agency. In New Mexico, I do receive a split of the commission offered by the seller through their listing broker. However, I owe no allegiance or fiduciary responsibility to the seller. I am working solely in the best interests of my buyer.

As the Internet has brought about change in the way real estate is marketed, buyer agency has become more necessary in my opinion. There are so many websites out there that display listings. The information they display can come from many sources, taxing government records, or even from for sale by owner information entered by the seller. A few, like Realtor.com, actually display listing information directly from local MLS's (Multiple Listing Services). However many, such as Trulia.com and Zillow.com, get their information from a variety of sourcs.

The accuracy of listing information found on the Internet varies from the best (from regulated MLS's) to the worst, entered directly by sellers or from out of date tax records. I believe that, as a buyer broker, a large part of the value I provide to a buyer customer/client is my understanding of the local market and my knowledge of which of the online resources you can trust, and which you cannot. I also find that Taos real estate has some very unique characteristics in the areas of easements, septic systems, and topology. Helping my buyers to avoid problems, make their best deal, and buy with confidence in their resale prospects is very important to me.

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