Exclusive Buyers Agent

 Buyers can avoid falling into this trap by finding an agent that they like and trust before starting to look at houses.  Working with an agent met at an open house or a model home may mean that the buyer will be under-represented.  While all real estate licensees are required to treat all parties honestly and fairly, when an agent represents the seller only, the buyer may not be represented in a transaction as completely as would be expected from a buyer agent who knows the buyer's needs and desires before the home search begins.

What are the advantages for buyers who have their own representation?  

A buyer's agent or buyer's representative works for and owes fiduciary responsibilities to the buyer and keeps the buyer's interests protected throughout the transaction, looking out for the buyer's interests throughout the inspections and other contract contingencies until closing.  Also, any information that buyers share with their agents is confidential and any information that the seller or seller's agent shared with the buyer's agent must also be disclosed to the buyer by the buyer's agent.  Below are is a comparison of the difference between an ordinary agent and Exclusive Buyers Agent

Ordinary Agent	Exclusive Buyer's Agent  100% Committed to the Buyer
Can show you all the homes in the MLS (Multiple Listing Service.	Will show you all the homes in the MLS, For sale by owner properties, foreclosures, even properties that are not on the market!
Can tell you the price the sellers are asking for homes but cannot suggest an offering price.	Will tell you the price the sellers are asking for homes; will calculate the fair market value of the home for you, and assist you in developing an offering price by using comparable sales data!
Can provide "raw" information on comparable homes that have sold in the area.  Not allowed to interpret that data for you	Will provide and interpret information on comparable homes that have sold in the area and help you formulate an offering price and negotiating strategy!
Can convey your offer to the seller or their agent and convey their response back to you.	Will guide you through the entire negotiation process offering advice and information every step of the way!
Can provide you with a "list" of title companies, home inspectors, and other professionals for you to choose from.	Will recommend title companies, inspectors, and other professional services you will need!
Can tell you some general information about the seller.	Can tell you everything they can find out about the seller and their motivation for selling!
Must tell the seller everything they know about you, your financial status, and your motivation for buying.	Will keep any information about you confidential if it would weaken you negotiating position!
"Thinks" in Seller's terms (i.e.:  Get the highest price possible for the home)	"Thinks" in Buyer's terms (i.e.:  Get the lowest possible price and best terms for the Buyer, not the Seller)!

 

 Shouldn't you be using an Exclusive Buyer's Agent?

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