Why Use a Buyer's Broker?
Traditional real estate agents are sales people.
They contract with sellers to sell their homes for the best price possible
on the best possible terms for the seller. An Exclusive Buyer’s
Agent works to get the lowest possible price and terms for the
Exclusive buyer’s agents don’t take listings,
they have no inventory. They have no built-in incentive to show
you their own listings so that they get compensation from both the buyer
and the seller. Exclusive buyer’s agents work as brokers, a service.
An intermediary, a negotiator who works for only buyers.
Often, people walk past a real estate office
and see a photo of a home posted in the window that interests them.
They enter the office to inquire about the details. The person they
speak with represents the seller. The agent is legally contracted with
the seller, a fiduciary responsibility to them. In other words, you
are speaking directly to the seller. Many buyers are not aware of this.
In the course of conversation, they may inadvertently disclose information
that would compromise their bargaining position, such as price point,
In the spirit of consumer protection, many
states have passed disclosure laws that require real estate agents to
disclose who they are working for at first contact with the buyer.
Even so, many buyers slip information that weaken their leverage:
“We would like to be settled when school starts” or “we only have
eight weeks before we close on our present home.” They have no
counsel to speak for them, to caution them.
Exclusive Buyer’s Agents remove any conflict
of interest. Traditional real estate companies may offer you something
called “dual agency,” where they represent both the buyer and the seller
in the same transaction. Beware. A parallel would be the
same attorney representing both the plaintiff and the defendant in a
law suit. Even the National Association of Realtors has
cautioned buyers against the use of dual agency.
Dual Agency: Legal? Yes.
Smart? Of course not.
Buyer’s Agents have the buyer’s interests in
mind. They act as personal advocates. Statistics have shown
that those who have used buyer’s brokers pay 91% of the offering price,
whereas those using traditional brokers pay 96%.
Buyer's Brokers can offer you full representation
FOR NO ADDITIONAL COST. The listing agent and the seller negotiate the
commission rate of the real estate agents involved, and the commissions
are subtracted from the seller upon settlement. There is no additional
cost for full buyer representation...
Why wouldn’t you use an Exclusive Buyer's Agent,
one who will offer you full fiduciary representation, diligence, disclosure,
loyalty, accountability? FOR NO ADDITIONAL COST.
Why not get it right the first time??