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Buyer Broker
You'll hear the term "buyer agent" a lot these days. That's because consumer
demand for full Home Buyer representation sent traditional real estate firms scrambling to
climb aboard. However, they are determined to have it all -- to work both sides of the
fence -- and they push hard to convince both Buyers and Sellers that they can represent
either, or both, equally. The foundation of traditional real estate is listings and for
these brokers, the bottom line outweighs consumer commitment.
So today's Buyers are faced with traditional agents, buyer agents, designated buyer
agents, single agents, dual agents, transaction facilitators and...Exclusive Buyer Agents.
How to distinguish?
A traditional agent may show you houses, but actually works for the seller. A buyer agent,
designated buyer agent, or single agent represents Buyers, sometimes, and Sellers,
sometimes. A dual agent represents both Buyer and Seller -- at the same time -- a Broker's
dream, because the firm collects the full commission paid. A transaction facilitator
represents no one. The transaction facilitator has no responsible relationship with either
Buyer or Seller and is accountable to neither.
All but Exclusive Buyer Agents have one thing in common: they work for a real
estate Broker whose firm lists homes for sale. No matter what hat the individual agent
wears at the time, if you want to buy a company listing, the Broker's cap always reads:
Dual Agent. The larger the firm, the higher the probability of a Buyer finding himself in
this conflicted situation. And let's be honest. If you had a product to sell, would you
promote the other guy's product first, or your own?
Some agents will tell you they are independent, that they work for themselves. True --
but not exactly. License law dictates that every real estate agent work under a Broker who
is legally responsible for every action an agent takes, and every transaction in the
office. Agents act for the Broker, in the Broker's place. If the Broker or other agents in
the same company list homes for sale, the agents work for a firm that represents Sellers,
even if they print "buyer's agent" on their cards and have you sign a contract.
Thoroughly confused? You don't have to be. An Exclusive Buyer Agent works for an
Exclusive Buyer Broker. An Exclusive Buyer Broker represents Buyers only. All the time,
every time. It's that simple.
Can a traditional agent do a good job for you? Of course. There are fine, hardworking
individuals throughout the profession. But the potential for a conflict of interest that
can dilute your buying power remains. It's a matter of choice. And the choice is yours.

The question of agency is an important consideration in choosing a real estate broker.
Simply put, agency is the answer to the question: Who represents whom? What's the
problem? DUAL AGENCY-- one broker representing both sides of a transaction.
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Meet Tom... Tom is a traditional real estate agent. He works
for a Broker in a large firm that lists property for sale. Tom and his Broker do a great
job selling houses--they advertise, hold open houses, always push the office listings
first, and strive to get the highest price for their client--the Seller. Will Tom show
you, the Buyer, houses for sale? You bet he will! Preferably his houses, or the office
listings. But will he represent you? Protect your confidentiality? Bargain on your behalf?
No! He can't, because Tom already represents--the Seller. |
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Meet Dick... Dick is a DUAL AGENT. He'd like you to believe
he can represent both the seller and you, the Buyer.You'll meet Dick when he takes you
into one of his own company's listings and tells you not to worry--that he'll work for you
and the seller equally. Dick will labor hard to convince you that you have nothing to lose
in a dual agency, that he'll be fair, that you can trust him... Why take a chance? The
only interest fully-protected in a dual agency is that of the agent and the Broker, who
pocket both sides of the commission. In truth, dual agency serves neither the seller nor
the buyer well. |
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Now meet Harriet. Harriet works for the same company as Dick.
If you're a Buyer, Harriet will tell you she's a Designated Buyer's Agent for this
transaction, and the other agent is a Designated Seller's Agent. And she'll be right!
Unlike Dick, Harriet doesn't represent both parties in the same transaction. But her
Broker does. Harriet may say she's independent of her Broker and that the Designated
Seller's agent is, too. After all, real estate agents work for themselves, don't they? Not
exactly. License law dictates that agents may not act independently of their Broker.
Agents act for the Broker, in his place. The notion of independent, designated buyers
agents in a firm that takes listings is nothing short of a hat trick. The agents change
hats. The Broker wears just one. Its label says: Dual Agent. |
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Say hello to
the Exclusive Buyer Broker at Buyer's Data.
I am a fully-licensed real estate broker who provides exclusive Buyer Agency Services.
All my efforts for a Buyer are directed to finding the
best property, at the lowest price, on the best terms. Exclusive Buyer
Brokers are legally obligated to their clients. That means you can trust Buyer's
Data to advise on strategy, protect your interests, preserve your confidentiality
and negotiate on your behalf. Don't trust the purchase
of your next property to just any Tom, Dick or Harriet!
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