8502 N Rio
Linda
Fresno, CA 93711
Phone/FAX:
(559) 438-8282
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Free:
(888) 222-9160
Email Steve
Fresno's
only member of
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| The 4
types of Agency |
There are basically 4 types of real estate agents or
agencies you may encounter as a home buyer. Most people are
unaware of the differences and assume that any person
showing them a home will act in their best interest. Nothing
could by further from the truth! Hopefully the information
below will help clarify these differences for you. Buying a
home is a serious decision and as I learned in school, “What
you don’t know, CAN hurt you”.
1). Traditional Agent
This is how real estate has traditionally been done for many
years. An agent or agents company try to solicit as many
potential sellers as possible and list those properties for
sell acting as a traditional sellers agent. These properties
are made available to any and all buyers, and this is where
problems for a buyer can occur.
2). Non Exclusive Buyers Agent
This is where a buyer is represented by an agent/company
that claims to represent buyers, but also represents sellers
as well. Many times the buyer agent is under the same
broker/company affiliation as that of the seller. Discussing
your transaction around the water cooler between the buyer
and seller agents is NOT in your best interest. A non
exclusive buyers agent that also handles sellers is not
giving buyers 100% representation, 100% of the time.
3). Exclusive Buyers Agent
An exclusive buyers agent/firm, represents 100% buyers,
giving 100% loyalty, 100% of the time. They will never
represent sellers or list properties for sell. Their agency
designation as that of “exclusive buyer agent” will not
change for any reason. This type of agent works just for
you, the buyer. For anyone buying a home, this is the best
kind of agency.
4). Dual Agency
This is by far the most dangerous type of agency to a buyer
and yet a very common practice by many agents. This is where
a traditional agent list a property representing the seller.
The buyer is shown the house by the listing agent/firm, and
agrees to purchase and be represented by the same agent.
This is known as “dual agency”, where buyer and seller are
represented by the same agent/broker. This has been widely
practiced because it obviously doubles the broker’s
commission. However, the conflict of interest here is
inherent. It’s easy to see why this is so dangerous for you
as a buyer when the same agent is legally obligated, by
contract or listing agreement, to the seller. Don’t fall
into the Dual Agency trap.
Protect Your Interest By
Working With An
Exclusive Buyer’s Agent
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