WHAT IS AN EXCLUSIVE BUYERS AGENT?
DUAL AGENTS – are real estate agents whose company lists property for sale, but act as buyer agents on those properties. Unfortunately, for buyers and sellers, dual agents are legal in most states. While dual agents attempt to justify this practice, consumer advocates warn NEVER to use a dual agent. The National Association of Realtors wrote that the practice of dual agency is as dangerous as playing Russian Roulette. If a real estate company lists property and represents the seller–you can strongly doubt any attempted claim that their agents can properly represent homebuyers. Funny how some folks like the CIA do not like dual agents, because they know them as “double agents!”
EXCLUSIVE BUYER AGENTS – represent homebuyers–never sellers. These agents are required by law to get the best price and best terms for the Homebuyer. All consumer advocates recommend that homebuyers take advantage of the benefits offered by exclusive buyer agents. Exclusive buyer agents are specialists in the home buying process. This higher level of professional service for buyers has resulted in an average of over 5% savings and greater satisfaction for homebuyers. Because WHAT IS AN EXCLUSIVE BUYER BROKER, ANYWAY?
Research shows that most homebuyers understand very little about whom their agents represent and its vital importance. While State law requires agents to disclose whose side they are on, most required disclosures are woefully inadequate, poorly explained, glossed over, minimized, and downright confusing. A growing number of brokers represent only the buyer, which is known as Exclusive Buyer Brokerage or Exclusive Buyer Representation. I am proud to be one of approx ten or so realtors who own and operate a true buyer only real estate brokerage. Sign up for free Report, on things to watch out for as a home buyer, the dual agent offices will not tell you these agents do not list property, they do not have company listings to try to sell to you first. Instead, all homes are available to homebuyers without bias, including For Sale By Owner, New Build Construction by homebuilders, and Multiple Listing Service homes (other Realtor listings). Exclusive Buyer Brokers will better protect the interests of buyers than dual agents, sub-agents, designated agents, or so called split agents. They are more likely to negotiate a lower sale price on a home. An Exclusive Buyer Broker does not take listings and never represents sellers. They will not “steer” you into looking at their company inventory of homes for sale, because they do not have any!