Know The Three Types Of Agents
The type of agency you choose can make a big difference. Even though more than ninety percent of home buyers use a Realtor® – often because they value help accessing the Multiple Listing Service (MLS) – many do not know there are different types of real estate agencies.
To really understand why an exclusive buyer agent is the home buyer’s best choice, it helps to learn more about the different types of real estate agents. Choose the right type of real estate agency and you can get more choices of homes, better information, better guidance and a higher quality home, all for a lower price.
Learn about The Home Buyers, Inc. and how, as an exclusive buyer agent, it fills a vital niche amoung the three type of real estate agencies.
Exclusive Buyer Agencies:
Representing Home Buyers One Hundred Percent
This is by far the best option for home buyers, since exclusive buyer agent are the only Realtors® that represent the interests of the home buyer. Although less than one percent of active agents qualify as exclusive buyer agents, the exclusive buyer agent advantage makes them worth seeking out.
The defining characteristic of an exclusive buyer agent is that it never lists homes. If it does, it is more acurately a dual agency. (See below.) One way to confirm that an agency is an exclusive buyer agent is to see if it is a member of the National Association of Exclusive Buyer Agents (NAEBA).
Exclusive Seller Agency:
Representing Sellers One Hundred Percent
Exclusive seller agencies represent the seller. Since they never work for home buyers, they are free to admit that are devoted one-hundred percent to the interests of the seller. They want the highest price for the shortest time on the market. And, unless required specifically by law, they have no reason to reveal any information that could impede their goal.
Since an exlcusive seller agent doesn’t represent home buyers as a matter of practice, there’s almost no danger of a home buyer winding up with one.
Few agencies call themselves an exclusive seller agency. Instead, most fall into the dual agency category. (See Below.)
Most real estate agencies offer to represent both buyers and sellers, working as dual agencies. Agency Disclosure.
For the home buyer, this raises questions of conflict of interest. Did their real estate agent really show them all the houses that fit their home search? Did the dual agent really give the best advice when it came to making an offer? Who will the agent work for if the home buyer wants out of a deal, but the seller does not?