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“Sellers’
agents and dual agents cannot by law give a buyer the same
degree of loyalty as an agent who acts on behalf of a buyer.
A buyer who relies on the sellers’ agent or on dual agency
does not receive the same degree of protection as that
afforded by an agent acting solely on behalf of the buyer.”
-Oklahoma Supreme Court, Snider V. Oklahoma
Real Estate Commission, June 1,1999
“You can’t have partial loyalty, an agent either works for
you or works for someone else”.
-Consumer Reports
“Exclusive (buyer) agencies
are best, they remove any conflict of interest, which is the
main reason for considering a Buyer Broker in the first
place.
-The Wall Street Journal
To Buyers: If you want representation, work with a buyer
broker. They are legally obligated to represent your
interest in any negotiations with sellers, states The
Consumer Federation of America. Groups such as The Consumer
Federation of America and AARP recommend using buyers’
agents.
-SmartMoney Magazine
A conflict of interest is more likely where a real estate
firm that represents sellers assigns you one of its brokers
as an agent. That’s why many people believe an “exclusive”
buyer broker is preferable. If there aren’t any in your
area, and you have to use a listing broker, “make sure they
disclose when they are showing you properties they have a
financial interest in,” says Stephen Brobeck, executive
director of The Consumers Federation of America.
-Business Week
Most agents who show you homes don’t represent your
interest. They work for the seller, and their object is to
sell the house for the highest possible price.
-USA Today
Buyer advocacy appears to by taking off. “I’ll never buy a
house any other way,” says Mrs. Renee Talley, Highland Park,
Tx.
-Kiplingers’
Buyers agents work only for consumers and can save them
money - and they don’t cost more to hire.
-Los
Angeles Time
Unlike the traditional agent who looks out for the seller,
the buyer broker acts as your advocate, helping you find the
home you want and then negotiating the lowest possible
price.
-Money Magazine
Exclusive Buyers Agents
100%
Loyalty To Home Buyers, 100% Of The Time
-
Do you
spent 100% of your time representing Buyers?
-
Will
you guarantee me that you will not be representing any
seller at any time while you are working for me?
-
Do you,
or the company you are with, ever list properties for
sale?
-
Will
you point our all the negative aspects of each property
as well as all the positive
aspects so I will be fully informed when making my
decision?
-
Will
you provide information on compable sales and help me
formulate an offering
price and negotiating strategy?
-
Do you
have a list of lenders, home inspectors, insurance
agents and other
professionals that you recommend?
-
Will
you tell me everything you can find our about the seller
and reasons for selling?
-
Will
you show me all the homes on the market that meet my
needs, including For Sale By Owner properties,
foreclosures, and other properties?
-
Will
you guarantee that any information I give you will by
kept confidential?
-
Will
you guarantee me your undivided loyalty?
-
Will
you guarantee me you will not try to change your
relationship with me to “dual agency,” or “designated
agent, ”transactional agent,” or any other form of
agency that offers reduced levels of service?
-
Can you
guarantee me 100% loyalty 100% of the time?
Only an
Exclusive Buyers Agent working in an Exclusive Buyer Agency
can answer “Yes!” to ALL of the questions.
National Home Buying Institute Press Release
Conflicts of interest occur when home buyers want to buy a
home that is listed with their buyer agent’s company. This
situation is called the in-house sale and according to
national statistics it happens to one out of every three
home buyers. Since a real estate agent cannot legally
provide undivided loyalty to both the home buyer and home
seller at the same time, the agent must ask both buyer and
seller to give up their right to undivided loyalty by
signing a disclosed dual agency agreement. The dual agency
agreement supposedly facilitates the in-house sale and means
double commissions to
the only real estate company involved in the transaction.
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