EXCLUSIVE BUYERS AGENCY IN THE NEWS

Even without all this press the concept of "exclusive", buyers agency can be confusing. Many agents call themselves "exclusive" agents" when they use a form of agreement that prohibits the client form using any other agent

Farmington, CT (prHWY.com) August 31, 2012 - Wayne, PA (prHWY.com) August 31, 2012 - The media coverage of exclusive buyers agency has seen an upsurge lately. Because real estate is a popular topic, many experts are handing out advice to potential home buyers. It seems the concept of exclusive buyer agency has finally come to the surface with these experts, who are now urging homebuyers to search out this niche type of real estate representative-- an exclusive buyers agency.

Even without all this press the concept of "exclusive", buyers agency can be confusing. Many agents call themselves "exclusive" agents" when they use a form of agreement that prohibits the client form using any other agent (exclusive to the AGENT). The term is correctly applied to an arrangement where the agent works EXCLUSIVELY with buyers--never sellers. It is exclusive to the benefit of the client. An exclusive buyers agreement used correctly creates a fiduciary duty from the agent for the benefit of the client. This makes common sense but is not the traditional way real estate has been done.

CNN's Money.com, How to Pick an Agent, recommends, "You might want to start by finding an agent who can represent your interests in the search. What you need is what's known as an "exclusive buyers agency."

Well-known financial advisor, Suze Ormon's webpage on home buying suggests finding an exclusive buyers agency through the National Association of Exclusive Buyers Agents. "It is your responsibility to search for an agent who will represent your interests in the real estate transaction. If you want someone to represent only your interests, consider hiring an exclusive buyers agency, who will be working for you." (As quoted in a U.S. Dept. of Housing & Urban Development publication.)

Linda Walters, owner of Sage Realty, an exclusive buyers agency located on the Main Line of Philadelphia said, "The message finally being sent by credible and respected institutions and publications is that having your own agent who has no homes to sell is in your best interest. HUD, Suze Ormon all recommend hiring an exclusive buyers agency for the same reason--it makes sense and costs nothing. As a trained attorney I believe in representing only one side. I advocate for the home buyer."

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Tag Words: main line homes

Categories: Real Estate

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