|HOME | WHAT IS AN EXCLUSIVE BUYER AGENT | BUYER AGENTS IN THE MEDIA | HOME BUYERS BEWARE | FAQ | VIDEO | USEFUL LINKS|
Home Buyers Beware
It is important for home buyers to know who they are working with and who their real estate agent is working for.
Beware of Buyer Agents who are NOT exclusive. Many buyer agents also take listings, which means they may not be 100 percent loyal to your best interests. Having a buyer agent who also has loyalties to the seller can severely constrict your purchasing options, not only because the agent will likely show you houses predominantly from his or her own listings but also because they will be looking to get the best price for the house, which will not necessarily be the best price for you.
Beware of any agent that could be considered a Dual Agent. They will not likely advertise this conflict of interest, but any dual agent would be representing the buyer and the seller. This would mean any information the agent has regarding you, your finances, your home-buying timeline, etc. would be fair game for the agent to give the seller. This could be detrimental to you in terms of buying the right house at the right price. Any agent that is not exclusively your agent will not be looking out for your best interests. Important Questions to ask a Buyer Agent
Beware of settling for limitations. If your agent is not working exclusively for you, you may be limited by their loyalty to their own listings or their loyalty to the seller. If you were in court, you would not hire the prosecuting lawyer to represent your defense case, so why would you hire an agent working for the seller to represent you as a buyer? By working with an Exclusive Buyer Agent you can be assured that your agent is 100 percent loyal to you, so you will have access to everything you need to find the right house at the best price.
So Be Aware that Exclusive Buyer Agents have access to a wide variety of listings and will be familiar with the area you are looking to buy a home in, so whether you have very specific idea of the home you are looking for or you have no idea what you want, an Exclusive Buyer Agent has the resources to find you exactly what you wanted, even if you didnít know you wanted it.
A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent."
Buyers Brokers Only, LLC © Copyright 2010.
All Rights Reserved.