Exclusive Buyer Agents Protect Buyers
An exclusive buyer agent helps home buyers purchase the right home at the most reasonable price possible. A traditional real estate agent works to efficiently sell homes for the maximum price possible, protecting the interests of the home seller.
Exclusive buyers agency was started to protect the interests of the buyer because the buyer is not protected as much as possible by the traditional real estate process.
1) Exclusive Buyer Agents do not have their own listings.
A listing agent has an added incentive to sell you one of their listings. This is great for the agent, because they have the potential to earn double commission.
This is not great for you, the buyer because it may limit the homes that you view to the agent’s or company’s listings. Also, the agent will be playing a sales role; it’s their job as a listing agent. A buyer should work with someone that can be objective and direct.
2) Exclusive Buyer Agents do not have a conflict of interest.
Since the person buying the home and the person selling the home have opposite interests, their respective agent’s will have opposite interests as well. The most obvious example is: the seller wants to receive the highest possible price for the home. The buyer wants to pay the lowest possible price for the home. Can one person represent these competing interests?
A traditional real estate agent is legally required to protect the interest of the seller. An exclusive buyer’s agent is legally required to protect the interest of the buyer, it is one of their buyer agent responsibilities.
3) Exclusive Buyer Agents work exclusively for the buyer.
Because the EBA works exclusively for buyers, they are in the best position to protect buyer’s interests. This results in the best possible buying experience for the buyer.
If you are interested in buying a home, it is important that you understand your representation options. There is no difference in cost, but there is a difference in motive and role between exclusive buyer agents and traditional real estate agent.
Interested in working with an exclusive buyer agent? We can answer any of your questions and connect you with an agent in your area.