How can Potential Buyers Bext Use BuyItNext.com?

Potential buyers can sign up for free on up to 50 off-market properties, which automatically notifies the registered current owner or the current owner's registered last selling agent of potential buyer interest.   Registered current owners or their registered last selling agents can view buyer interest surveys, but cannot determine the identity of the registered potential buyer. 

When the current owner is getting ready to sell, the registered current owner or the current owner's registered last selling agent can change the property status from "off market" to "ready to sell". BuyItNext.com generates ready-to-sell notifications to registered potential buyers with the contact information of the current owner or the current owner's last selling agent.   

To learn the property location registered interested buyers must contact the current owner or the registered last selling agent to discuss opportunities to buy.   

Consumers always have the choice of what agent they work with, including the last selling agent, or a marketplace sponsor agent who specializes in helping sellers and buyers of off-market properties.

The information on this website is for general informational purposes only. BuyItNext.com and its affiliates make no representation or warranty, express or implied. Your use of the site is solely at your own risk. This site may contain links to third-party content, which we do not warrant, endorse, or assume liability for.

 

What does it cost potential buyers, or licensed agents on behalf of potential buyers to subscribe on a property in order to receive ready to sell notifications?

Prospective buyers, or agents on behalf of potential buyers can subscribe to receive ready-to-sell alerts on up to 50 properties for free.

Why Does BuyItNext.com limit the number of free subscriptions?

Individual potential buyers and couples are more focused over a short period of time on specific neighborhoods within cities when they become serious about their next purchase.  

Investors and real estate agents who are longer-term users on BuyItNext.com can subscribe on more than 50 properties and pay a monthly subscription fee.
Important:  Users with over 50 properties subscribed must keep their monthly fees paid current to receive ready-to-sell notifications and to add and remove properties.

 
See examples below:

A number of properties subscribed on.	Monthly Cost
Up to 50 properties	FREE
51 properties	$5.00 +(1 x $.02) = $5.02
150 properties	$5.00 + (100 x $.02) = $7.00
1,050 properties	$5.00 + (1,000 x $.02) = $25.00
10,050 properties	$5.00 + (10,000 x $.02) = $205.00

Important: Review Terms of Use policy for user account limitations per household and per company. 

  

What is a potential buyer interest questionnaire?

Buyer interest questionnaires are anonymous, but at the same time, help registered current owners of off-market properties and their registered last selling agent know about potential buyer interest throughout the duration of ownership. 

Completing a buyer interest questionnaire does not obligate potential buyers to make an offer of purchase or retain the services of a real estate agent not of their choosing.   

Completing a buyer interest questionnaire, or bidding to hold the right of the first offer does not obligate potential buyers to make an offer of purchase or retain the services of a real estate agent not of their choosing.   

Registered potential buyers may update their questionnaire responses at any time.

important To Know  When the current owner is ready to sell the property, the status on BuyItNext.com must be changed by the registered current owner or the current owner's registered last selling agent.  Changing the property status from "Off-Market" to "Ready To Sell" will generate notifications to registered potential buyers to contact the registered current owner or the registered last selling agent.

Also Important To Know:   The "Ready To Sell" notification to registered potential buyers does not contain any property location information.   Potential buyers must contact the registered current owner or the current owner's registered last selling agent to obtain property location information.

 

How can a potential buyer save money working with the current owner’s last-selling agent?

When customers (sellers and buyers) have experience buying and selling real estate and simply need a non-fiduciary agent to help them consummate a transaction without the benefit of advice, counseling, or negotiation representation, they often can save money and time by having a licensed real estate agent facilitate the next sale as a Transaction-Broker”.

Experienced potential buyers can save time and money by having the last selling agent facilitate the next sale as a Transaction-Broker”, (aka Intermediary or facilitator), and may negotiate their commission structure to be properly compensated for their services.

When there is no listing agreement designating a commission payment structure, all three parties (current owner, current owner's last selling agent, and potential buyer)  can negotiate the sales price and commission to be paid to facilitate the off-market transactions.   It is important for the parties to negotiate a commission structure to properly compensate real estate professionals for their services.

Below is an example of a potential buyer saving in the form of a buyer commission rebate when the parties agree to use the professional services of the last selling agent as a non-fiduciary intermediary. 

Important: The seller's net proceeds are not adversely impacted by buyer commission rebates being paid.

Potential Buyer Savings Calculator
Sale Price	$500,000
Real Estate Commission Percentage	5.00%
Real Estate Commission	$25,000
Seller Net Proceeds	$475,000
Buyer Commission Rebate Percentage	1.00%
* Buyer Commission  Rebate	$5,000
Buyer's Effective Purchase Price	$495,000

How are registered last-selling agents able to help potential buyers of off-market property?

Registered last-selling agents are uniquely positioned to help prospective buyers of off-market properties because they often are the first to know when the current owner is getting ready to sell and they've actually been in those homes.

Registered last-selling agents can help potential buyers with their request for right of first offer.   

Savvy potential buyers may choose to utilize a last-selling agent to help facilitate the transaction, which could simplify the process for all parties and save money.

Learn more here about Transaction Broker | Facilitator | Intermediary services.

When is it best to contact a current owner or the current owner's last selling agent.

Potential buyers are able to contact current owners or the current owner's last selling agents at any time to express their interest in buying property.

Registered potential buyers can get notified when the property status on BuyINext.com is changed from "off-market" to "ready to sell" by the current owner or the current owner's last selling agent.    It is up to potential buyers to contact the current owner or the current owner's registered last selling agent to discuss off-market or active listing opportunities. 

Important:  Current owners or the current owner's last selling agent are not obligated to send registered potential buyers ready-to-sell notifications.

Important:  Based on BuyItNext's Privacy Policy and Terms of Use a prospective buyer’s personally identifiable information (PII) is not shared by BuyItNext.com with the current owner or the current owner's last selling agent.

 Sign Up now!

What if there is not a registered last-selling agent on a property you're interested in buying?

Potential buyers have five options, some of which are better than others.

1. Wait for a property to be listed for sale.
2. Contact the owner directly by writing a letter or knocking on the door.
3. Contact an agent you know who is willing to contact the owner on your behalf by writing a letter or knocking on the door.
4. Contact the local Off-Market Advisor on BuyItNext.com who is willing to contact the current owner on your behalf by writing a letter or knocking on the door.     
5. Sign Up on BuyItNext.com to get notified when a registered current owner is getting ready to sell.

What is an Off-Market Property Advisor on BuyItNext.com?

Off-Market Property Advisors are licensed real estate professionals on BuyItNext.com who assist sellers and buyers in their local marketplace. 

1. Off-Market PropertyAdvisors involved in their community.
2. Off-Market Property Advisors live, walk and drive in their community.
3. Off-Market Property Advisors stay ahead of the most current local market trends.
4. Off-Market Property Advisors understand the nuances affecting value from one block to the next.
5. Off-Market Property Advisors educate consumers on the benefits, opportunities, and challenges of off-market transactions. 

For Potential Buyers:

• Off-Market Property Advisors can help prospective buyers by getting connected with current owners of off-market property with or without registered last-selling agents.
• Off-Market Property Advisors have a connected network and hyper-local market knowledge base that allows them to often learn of properties coming to the market before they hit the MLS. This puts potential buyers in a distinct advantage of being able to put in an offer ahead of the competition.  
• Off-Market Property Advisors may be willing to provide experienced potential buyers intermediary (aka transaction broker or facilitator) services to save both sellers and buyers time and money.

Important:  Off-Market Property Advisors understand the nuances, importance, and benefits of helping sellers and buyers of off-market properties.

Sign Up now!

How can Off-Market Property Advisors help potential buyers of off-market properties?

Off-Market Property Advisors help potential buyers by reaching out to current owners of off-market properties.

Maybe the current owner has not considered selling but may be open to entertaining an offer. 

A knowledgeable and focused Off-Market Property Advisor can create a brand-new off-market opportunity for current owners, their last selling agent, and potential buyers.

How is an Off-Market Property Advisor able to help sellers and prospective buyers of off-market property?

Off-Market Property Advisors are licensed, experienced real estate agents who assist sellers and prospective buyers of off-market properties in their local marketplace.

Off-Market Property Advisors are willing to reach out to current owners without a last-selling agent to explore off-market opportunities.

Savvy potential buyers may ask an Off-Market Property Advisor to help facilitate the home sale transaction as a Transaction Broker (aka intermediary or facilitator), in which case the Off-Market Property Advisor may be representing the seller and buyer in a non-fiduciary capacity to facilitate the next sale transaction. When all parties agree, there may be an opportunity to save sellers and buyers time and money.

An Off-Market Property Advisor is positioned to help facilitate potential buyer visits to homes with the current owner’s permission. Merely visiting a home with a real estate agent does not establish an agency or contractual relationship with the agent. BuyItNext.com always encourages sellers and buyers to seek proper representation from the agent of their choice.

Off-market transactions are not new. However, off-market transactions present a unique opportunity to reduce a buyer's final purchase price without reducing a seller’s net proceeds by having one a licensed real estate professional facilitate the next home sale transaction as a transaction broker, facilitator, or intermediary. Terms used to describe a facilitator's role vary by state and local authority.

Savvy real estate agents can use commission rebates or other inducements to home buyers and sellers. Inducements that go directly to buyers or sellers lower costs on both sides of the transaction.

Commissions are negotiable, and they always have been. 

The Buyer Rebate Savings Calculator below illustrates potential buyer savings in the form of a buyer commission rebate (where allowed by law in 40 plus states*) when a real estate professional provides “transaction broker” services, which has the potential to reduce the buyer’s final purchase price, without reducing the seller’s proceeds or adversely affecting a real estate professionals compensation.

Cash rebates are usually calculated as some fraction of the broker's commission and can result in thousands of dollars being returned to the consumer. See the example below:

Buyer Rebate Savings Calculator
Sale Price	$500,000
Real Estate Commission Percentage	5.00%
Real Estate Commission	$25,000
Seller's Net Proceeds	$475,000
Buyer Commission Rebate %	1.00%
* Buyer Commission Rebate $	$5,000
Buyer's Effective Purchase Price	$495,000

Important:  In Texas AS AGENT FOR BOTH - INTERMEDIARY: To function as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

1. Must treat all parties to the transaction impartially and fairly.
2. May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and conduct the instructions of each party to the transaction.
3. Must not, unless specifically authorized in writing to do so by the party, disclose:
• that the owner will accept a price less than the written asking price.
• that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
• any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

  

Are real estate agent commissions negotiable?

The short answer is yes, especially when a property is "off-market".   Generally speaking, a property home that is “off-market” is not for sale. This means that the homeowner is not actively trying to sell their home - or if they are, they are not doing it through a public channel like the MLS system.

There is no harm in a consumer (seller and/or buyer) discussing whether commissions are negotiable to arrive at a mutually beneficial arrangement.  

Important: There are numerous nuances that need to be taken into account when discussing agent compensation;  like the sale price, the type of representation of each party, and the complexity of the transaction to name just three. 

What is a transaction broker, also known as an intermediary or facilitator?

Customers who have prior home purchase and sale experiences may be inclined to use a transaction-broker (aka intermediary or facilitator) to play a neutral, non-fiduciary role in facilitating the transaction on behalf of both parties. In general terms, transaction-brokers must adhere to the following guidelines:

• Must treat all parties to the transaction impartially and fairly.
• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and conduct the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
• that the owner will accept a price less than the written asking price.
• that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
• any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
• Important:  Terminology to describe two-party representation may vary by state. Specific guidelines for brokers/agents regarding two-party representation may also vary by state.   The roles of the parties in Colorado are below.

Transaction-Broker: A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction, without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property. No written agreement is required.

Customer: A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party’s agent or as the party’s transaction-broker. 

Seller’s Agent: A seller’s agent works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and
acts as an advocate for the seller. The seller’s agent must disclose to potential buyers all adverse material facts actually known by the seller’s agent about the property. A separate written listing
agreement is required which sets forth the duties and obligations of the broker and the seller.

Buyer's Agent: A buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer’s agent must disclose to potential sellers all adverse material facts actually known by the buyer’s agent, including the buyer’s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer.

 

How to remove properties potential buyers are no longer interested in buying?

After signing in, click on the My Properties Icon to view, edit and remove properties you are no longer interested in receiving "ready to sell" notifications. 
 
Note: A potential buyer's registration on a removed property will remain in effect until the end of the subscription period if you are a paid subscriber with more than 50 subscribed properties.

How do buyers select a real estate professional?

To appreciate how buyers select a real estate professional one needs to understand the results of the National Association of REALTORS® - 2022 PROFILE OF HOME BUYERS AND SELLERS

Home Buying and Real Estate Professionals

• Eighty-six percent of buyers recently purchased their home through a real estate agent or broker, and 10 percent purchased directly through the previous owner.

• Having an agent to help them find the right home was what buyers wanted most when choosing an agent at 49 percent. 

• Thirty-eight percent of buyers used an agent that was referred to them by a friend, neighbor, or relative, 12 percent used an agent that they had worked with in the past to buy or sell a home, and 10 percent found their agent when inquiring about a specific property found online. 

• Sixty-seven percent of buyers interviewed only one real estate agent during their home search.

• Eighty-nine percent of buyers would use their agent again or recommend their agent to others.