Define: Exclusive Buyer's Agent

Thanks for the information.  We learn a lot of good information for ourselves and clients from Active Rain.  Best Regards,

HERE, HERE!!!

A voice in the winderness of "dual agency by any name used to disguise the action of collecting the buyer and seller side of the commission".

Most so called "limited dual" or "disclosed dual" is, in reality, UNDISCLOSED DUAL AGENCY WHICH IS FRAUD.

I don't care what the agent says, the buyer OR seller with whom they are working will believe that that agent is THEIR agent.

Fact is, most agents don't understand the meaning of the word "represent".  They use it interchangeably with "working with". 

Sadly, few are willing to work with customers, the safe way of collecting both sides.  But, once they give agency level assistance, they have slipped into the mud of "undisclosed dual dude or dudette" and that is FRAUD.

Florida has what's know as transactional brokers all we are are middle men and have no fiduciary duty to either side and limited representation thats why for us its important to call our customers taht and not clients which that term in itself implies fiduciary duty.

Good catch Paul.

There should be no question about the use of the term "exclusive buyer agency". It is a company who only works for buyers. They never take listings and never work for sellers.

The challenge I have is trying to determine if people mis-use the term because they are trying to cheat/mis-lead buyers or if they mis-use the term because they really don't know the meaning. Our state association attorney mis-uses it all the time, but they are really sloppy on a lot of the agency related documents so it may just be incompetence.

Maybe I should contact them again and ask them again to get it straight?

To be completely frank, Paul, the reception for what we do is mixed.  I believe there are agents who are very open to the idea of EBA's but unfortunately, I can tell you from experience, many agents/agencies are not fond of the notion that there are potential conflicts of interest in their practices.  In fact, we have been viewed as a threat to even the giant agencies in our area.  The HUD booklet is an important breakthrough and yesterday's article in US News & World Report http://www.usnews.com/money/personal-finance/real-estate/articles/2010/02/18/10-rookie-home-buyer-mistakes-to-avoid.html?PageNr=2 is just another nod to EBA's as our visibility increases.