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Relocating Home Buyers Seek Out Exclusive Buyer's Agents for Representation

By Benjamin Clark

Real Estate Agent with Homebuyer Representation, Inc. DRE# 5467433

May 29, 2008 07:59 AM

quote Because of my work, I was required to relocate to Utah. As with my previous home search effort in Illinois, I decided to use an exclusive buyer agent rather than a traditional realtor. A traditional realtor normally cannot fully represent buyers since they are legally bound to work for the sellers. Also, from a pure business aspect, traditional agents have incentive to promote their own listed properties—and not other agent’s.

So, while on a business trip to Utah on March 28th, I met with my exclusive buyer agent for the first time over breakfast. Benjamin Clark of Homebuyer Representation, Inc. was very enthusiastic and he focused on my home buying needs with surgical precision. We discussed our search strategy and set goals for our house hunting trip, which occurred two weeks later.

When I returned with my wife and two children—Ben was ready. Based entirely on my selection of homes to view, he arranged a schedule that took us through more than 30 homes in two-days. price A seemingly impossible task, the experience was actually enjoyable, and we found a home on the second day. At that point, Ben really went to work.

With his expert knowledge of the Utah housing market, Ben helped us put together an offer that was fair, yet skewed to our favor—the home buyer—which the seller accepted. Not only was the selling price thousands of dollars under the asking price, it was also tens of thousands of dollars under the appraised value. In a sense, we were ahead before we even started!

Today is May 15th and we will sit down to sign the closing documents on our new home. Thinking back, I know we made the right choice to use an exclusive buyer agent. Ben never lost sight of our needs and has stayed engaged at every step. Although we will not arrive in Utah for a few more weeks, I know the day we pull up to our new home, Ben will be there with the keys.

I have now used an exclusive buyer agent twice to purchase a home. In my opinion (based entirely on my own experience), exclusive homebuyer representation is the best and only option!

Tim D.
A new Utah resident

If you are relocating to the Salt Lake City area, make sure you get an Agent on YOUR side of the transaction!

If you have excellent credit and will be buying a $250,000-$750,000 home in the next 30-60 days and would like an agent who will work exclusively for you, call us at (801) 969-8989 or contact us via the link on this page.

Exclusive Buyer Brokerages do not list homes and never represent Sellers. Their agents represent Buyers ONLY on the Buyer's side of the transaction. They work to get BUYERS the Best Price and Terms when they Buy...

Finally...

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Eileen Musser

no longer in real estate - York, PA

EX Realtor

Hey Tim and Ben, I am glad you had a good and successful experience.

Since I often work as a buyers agent I have to take exception with your statement:

A traditional realtor normally cannot fully represent buyers since they are legally bound to work for the sellers. Also, from a pure business aspect, traditional agents have incentive to promote their own listed properties-and not other agent's

Not entirely true!

At least in Pennsylvania when I contract to serve as a clients "buyers agent" I am then legally bound to work for that buyer, not for the seller. That's the whole point of having a buyers agent.

I know from experience in the online community that this is a never ending argument (discussion!?), and I know, Ben, that you have quoted the opinion of your client, but lets be fair. There is more than one acceptable way to do business. I contend that I do a grand job of serving as a buyers agent for my buying clients, without respect to whether I happen to have a listing contract with another client. One has absolutely nothing to do with the other

Respectfully,

Green Eileen at Gateway

serving South Central Pa

May 29, 2008 08:18 AM

Benjamin Clark

Homebuyer Representation, Inc. - Salt Lake City, UT

Buyer's Agent - Certified Negotiation Expert

Eileen,

You are correct in your last paragraph when you state:

I contend that I do a grand job of serving as a buyers agent for my buying clients, without respect to whether I happen to have a listing contract with another client. One has absolutely nothing to do with the other

The problem occurs when an agent attempts to represent both sides in the same transaction. And how does an agent know that a Buyer-Client won't want to purchase a home listed by one of their Seller-Clients? (Or one of the brokerage's Seller-Clients) We don't ever have that problem because our brokerage lists no homes.

Courts have upheld that a client in a dual or limited agency relationship realizes fewer fiduciary obligations from the agent. It is for this very reason that agents must have informed consent in many states before acting as a dual agent.

May 29, 2008 08:30 AM

Benjamin Clark

Homebuyer Representation, Inc. - Salt Lake City, UT

Buyer's Agent - Certified Negotiation Expert

A listing agent cannot fully represent a buyer for that home because they are legally bound to represent the Seller. Even if the agent becomes a transaction broker, facilitator or a dual or limited agent by agreement of all parties, the buyer is not being fully represented with full agency-level services.

May 29, 2008 08:32 AM

Benjamin Clark

Homebuyer Representation, Inc. - Salt Lake City, UT

Buyer's Agent - Certified Negotiation Expert

Listing Agents not only often have incentive to sell their own listings, but they have a duty to promote and sell their own listings as a matter of obligation to their seller-clients.

If I were selling my home, I would want my agent to do their very best to sell my home to every potential client. Not simply to use my home to attract buyers for other agent's listings.

May 29, 2008 08:34 AM

Benjamin Clark

Homebuyer Representation, Inc. - Salt Lake City, UT

Buyer's Agent - Certified Negotiation Expert

And as a Buyer, I would always want exclusive representation with full fiduciary duties, even if there are agents out there who feel they can fairly represent both parties simultaneously. I would want someone fully on my side of the transaction and that is why I provide that service to my clients.

May 29, 2008 08:37 AM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

Nothing, absolutely nothing beats experienced brokerage services with loyalty, obediance, disclosure, confidentiality, reasonable care and diligence and accounting.

May 29, 2008 08:59 AM

Tom Braatz Waukesha County Real Estate 262-377-1459

Coldwell Banker - Oconomowoc, WI

Waukesha County Realtor Real Estate agent. SOLD!

Ben

Testimonials are the best!

Hope all is well.

Sincerely

Tom Braatz

May 29, 2008 10:16 AM