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| Buying With Us | |||||||||||||||||||||||||
 1% Buyer Representation* Let us help you buy your next Oahu home or condo - both professionally and financially. We may save you thousands of dollars when you buy with Hoku. We offer over 35 years of real estate experience working with buyers, and do so for only a 1% buyer representation fee. The buyer representaion fee is usually written into the purchase contract as being paid by the seller. This fee is negotiated, and included in the purchase contract, just like all other contract terms. When this fee is included in the purchase contract, it becomes part of the purchase price, and the buyer is still in effect paying that fee. So, the lower the fee is, the larger the savings are for a buyer. Other brokerages charge much higher fees to represent a buyer. Sometimes as much as 3%. This is where your primary savings comes from when you use us. Hoku offers buyers years of experience, along with significant savings. We are a full-serivce company, and are at our buyer's side from showing to closing. The table to the right gives you an approximate idea of how much you might save with our 1% buyer representation fee (the below guidelines apply). This is money you save, which you might otherwise have to try to negotiate with a seller to cover. Using Hoku may also make your offer look more attractive compared to offers using a brokerage with a higher representation fee. A seller will easily see that an offer with a 1% representation fee is better for them. You may be wondering what do you do if a seller is offering to cover the cost of a higher fee from the start. You have two options: You can either include just our 1% fee in your offer contract, which makes an offer look very strong. Alternatively, you can include our 1% fee in your offer, along with a seller-credit to buyer for some, or all, of the unused portion of what the seller is offering. In the latter scenario that seller credit is usually applied towards your closing costs, and may save you cash that you otherwise would need to bring to closing. This would be your potential secondary savings of working with Hoku. Both scenarios show how we may help you save thousands on your Oahu real estate purchase, make your offer look more competitive, and provide the services you are looking for. As the real estate marketplace changes, Hoku will continue to adapt how best to offer buyers savings. Since 2009, Hoku has been known for its 50% buyer rebate. We have usually given half of the commission which we received from the seller, or seller's brokerage, to our buyer-clients at the end of the sale process as a 50% buyer rebate. With new real estate industry practices and contracts taking effect in mid-2024, a classic buyer rebate approach will no longer be the simplest method to offer savings to buyers on most purchases - the above scenarios using a 1% buyer representation fee and seller-credit to buyer is more advantageous. Occasionally, for a particular buyer and property, a classic 50% buyer rebate approach may be worth consideration. Please contact us to discuss the best path forward for you. For new construction buyers in particular, it may be better to use a classic 50% buyer rebate approach since developers use their own proprietary purchase contracts. If you are considering a new construction purchase, please visit our Rebate page regarding our 50% New Construction Buyer Rebate*, which offers new construction buyers similar savings. Please contact us with any questions you have, or to start working together! Buyer Services: - Your Hoku agent will be by your side throughout the entire buying process beginning with the first search for properties for sale - and showing you properties - until you receive your new keys. Great customer service is our goal. - Help with arranging a financing pre-qualification letter, if needed. - Automatic daily email search results sent to you for properties matching your search criteria. - Scheduling and showing of properties of interest to you. - Comparable Market Analysis, CMA, to see what recently sold and what currently is available to help determine pricing strategy for the Oahu home or condo you decide to make an offer on. - Write and present your offer. - Effectively negotiate the purchase of your next home or condo. - Help with access for property inspector and appraiser. - Regular updates from your agent on the various steps in the escrow process. - Guide your purchase through escrow to a successful closing. Contact us: We'd like to hear what your buying plans are, what you're looking for, and discuss how we can help you both professionally and financially when you buy with Hoku. Mahalo *1% buyer representation fee guidelines: - Hoku Real Estate (Hoku) uses a written buyer representation agreement covering our fee and the terms of how it is paid in various scenarios. - This buyer representation agreement can be for a short or long period of time, and can cover the entire Hawaii real estate marketplace, or simply a single property. - A buyer representation agreement needs to be signed by all parties prior to the first showing of a property to a buyer, including virtual showings. - The buyer representation fee needs to be included in a purchase contract in order for it to be covered by a seller. If a seller does not agree to cover that fee, then a buyer can decide either not to proceed with negotiations, or to go ahead and pay the fee themselves at closing. - Buyer agrees to provide Hoku with a financing pre-qualification letter from their lender, loan officer or mortgage broker prior to the first showing of a property to a buyer. - If you signed a buyer representation agreement with another broker, then you may be locked into them and we can't be your broker. Buyer affirms that they don't have any currently valid buyer representation agreement with any Hawaii real estate broker. - If you decide to buy a property because of the recent efforts of another broker, then we may not be able to represent you for that purchase. Buyer affirms that no other broker was the "procuring cause" of your decision to buy the property that you are currently buying with us. - For new construction properties, your Hoku agent must accompany buyer on first visit to the new construction sales office in order for Hoku to be able to represent you. - Hoku has a minimum commission fee of $4,000. If the purchase price is below $400K, then $4,000 is our buyer representation fee. |
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