Ever wondered how to get the most protection and loyalty from your real estate buyer agent? The following videos do a great job of informing consumers about the advantages of a dedicated buyers agent.
Below is a video produced by the Colorado Exclusive Buyer Agents Association, and below that are some amazing interviews from the members of the Massachusetts Association of Buyers agents, another state not-for-profit that seeks to educate consumers about the advantages of buyer agency.
Under the videos is a response made in 2018 to a consumer who had heard he must stay away from the dual agency and only get a buyer’s agent.
Good morning Edie and Nicholas,
Thank you for your feedback! Yes, the dedicated buyer agency office of Peter & Laurie Bell is an excellent one and can provide you representation without any conflict of interest whatsoever. To my knowledge, they are the only 100% buyer service office in the area.
Since you are in the interview stage, I always like to give you a few options, and so you can see who fits your needs the best. Dual agency is exceedingly rare. It only occurs only with your consent when your chosen agent has a personal listing you are interested in. A way to avoid that is to see if the agent has any listings that might be of interest to you prior to engaging them.
The large companies like Houlihan Lawrence may have many listings listed by other seller agents within that company that might be of interest to you. In those cases, you would select a designated agency. The consumer must count on the two representatives (seller agent and buyer’s agent) to not discuss your situation with one another, and they are also bound by the Professional and Ethical standards of their license to not do that.
Thus, I pick agents in these kinds of offices with excellent reputations for integrity, but there are of course no guarantees and you are in more of a safe harbor if you have a whole company dedicated to representing buyers, such as the Bell office.
One thing you want to watch out for with a traditional agency that has listings is to make sure they are not favorably showing their own listings or talking to their peers about your motivation, price point, etc.
Association Manager for Consumer Inquires for the Colorado Exclusive Buyer Agents Association (CEBAA) and the Massachusetts Association of Buyer Agents (MABA)
PS: Associations like MABA do allow their members to have listings, but they pledge “single agency”, which means they can never make money on both sides of the transaction.