Advantages
Most agents who show you homes don’t represent your interests. They work for the seller, and their object is to sell the house for the highest possible price.
“Unlike the traditional agent who looks out for the seller, a buyer broker acts as your advocate, helping you find the home you want, then negotiating the lowest possible.”
“Level the playing field when you buy a home….You may get a better deal with your own broker pulling for you…The introduction of buyer brokers takes a horribly one-sided process and simply makes it fair.”
“Buyer brokers: agents that buyers can call their own…If your real estate agent isn’t a buyer broker, he works for the seller…Buyers no longer have to fend for themselves.”
“Buyer Advocacy appears to be taking off. “I’ll never buy a house any other way.” says Mrs. Renee Talley, Highland Park Tx.”
“Exclusive agencies are the best. They remove any conflict of interest which is the main reason for considering a buyer broker in the first place.”
“To Buyers: If you want representation, work with a buyer broker. They are legally obligated to represent your interests in any negotiations with sellers, states The Consumer Federation of America. Groups such as the Consumer Federation of America and AARP recommend using buyer’s agents.”
“Many people don’t realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer. may be able to secure a better price and better terms.”
“Confusion often arises because many buyers believe that the agent who shows them houses works on their behalf. In fact, sub-agents of the listing broker-often they are agents who work for another office-also act on behalf of the seller.”
“Exclusive buyer’s brokers work only with buyers and don’t take listings. They’re obligated to help you find the best deals and lowest price. Unfortunately, agency standards have changed so much in the past ten years that real estate agents themselves are likely to be confused about their obligations to buyers and sellers, even though in most places they are supposed to give you a disclosure form explaining your relationship. Bottom line: You don’t truly have an advocate in your corner unless you both sign a contract saying so.”
“More Agents Represent Home Buyers Buyer brokers say they can negotiate the best price for their clients. Representation is something buyers could and should have had all along, said Maureen F. Glasheen, a former general counsel to the New York state Department of State and now a business and legal consultant in Albany.”
“Do I need a buyer’s broker to help me buy a house? A new breed of broker, known as an exclusive buyer’s agent, acts as your advocate. Like a traditional broker, an exclusive buyer’s agent steers you toward attractive homes and helps you scout out banks or mortgage companies, where you can borrow what you need to make the purchase. Unlike a traditional broker, however, the exclusive buyer’s agent guarantees to protect your interests in negotiations with the seller on the price of the house and any necessary repairs.”
“House Hunting? Save by hiring your own Broker. If you ever doubted the value of real estate agents who work solely for home buyers (as opposed to traditional agents who report to sellers), consider this: A recent study by U.S. Sprint found that 232 relocating Sprint employees who hired buyer’s brokers paid an average of 91% of a home’s list price. People who use traditional agents typically pay about 96%. On a house originally priced at $150,000, that’s a difference of $7,500.”
“Because we only provide MLS service for sellers that we list and will not represent them on the sale side, we have no financial interest in which home you buy. We will provide you an overview of the entire market with a certainty that we will not try and steer you to a home listed by a particular brokerage. Every home in the Multiple Listing Service is given equal consideration, as well as a number of select For-Sale-By-Owner properties. Our only goal is that you buy the best possible home at the lowest possible price.”
“In order to negotiate the best price and terms, you need an agent who represents only your interests. If you walk into an open house, the listing agent will be happy to write an offer for you, but they work for the Seller. Even if you don’t have dual agency, if the agents both work for the same firm, do you really have an impartial advocate?”
“Our services are entirely free to the Buyer. A Seller who lists their house with an agent, pays the same amount of commission regardless of who represents the Buyer. The only difference is who receives the cooperating commission. A Seller might agree to pay a 6% commission to a listing broker. If the listing broker brings a Buyer, she keeps the whole 6%, if the Buyer is represented by another broker, both split the 6%.”