When were "buyers agents" invented in your market?

Buyer Agents were just starting when I was licensed in 1995. At that time it seemed perfectly reasonable to me. But, I found many older agents hating it. The change thing.

Some even flat out said, "I work for the sellers" before they showed a property. It finally dwindled down to one guy. Everytime he would show one of my properties he would call and say,

"Missy, remember I am working for your sellers."

I have a different view of this. I think buyers agents came about because of the real and potential conflict of interest in representing both sides of a deal. The easy example is if the listing agent knows the seller is getting divorced and must sell this is not something they should freely disclose as it would hurt their seller. but if they are both sides would this not be info the buyer would want. Enter the problem. So a real buyers agent works for the buyer not to find a "blind" inspector. Why would a buyers agent be more tempted to d this than the listing agent who has money in advertising and marketing in the home?

So I think the buyers agent came out of a real need.

Buyer Agency has been around a long time. It wasn't openly done because the traditional way of doing business was by sub agency. I have a book written by James B. Warkentin, a Broker in McLean, Virginia who pioneered residential buyer brokering in the 1970's. I believe it was in the early 90's when the laws were change and full disclosure was required. Back then we were required to write "Buyers Agent" on the back of our business cards, if we represented the Buyer.

I use all caps for all of my titles on ActiveRain.  I also use it for headings.  It's simple report construct.  I'm not shouting.  When I shout, the translation is *^$$^&*(()).

Buyer's agency developed across the country as a result of litigation.  Bokusky v. Edina Realty, a class action lawsuit brought by a home buyer who was "represented" by the listing agent. 

That was watershed litigation, see:  http://www.economics.emory.edu/Working_Papers/wp/curran_99_19_paper.pdf

Fascinating.  My first BA Agreement was in 1993 in MD and I haven't looked back since.  I had to leave the mega broker I was with in order to practice buyer's agency since it was a listing company and I was never comfortable with Dual Agency. 

WE had one of our buyers a while ago tell us that her friend paid some agent $500 to be "her" agent...oh not....I don't think there are folks here who ONLY do that....at least not on purpose !

I love Mark too.  Haven't heard from him in years.  He is the person I credit with my "Ah Ha!" moment about buyer's agency.

In a word, he wrote:  "It's over".

I suddenly realized that he was right.  The statutes in my market had suddenly given me a roadmap for how to practice.  I had choices and followed them.

I consider Mark May a genius.