With 2 exceptions (that I am aware of) , no New Jersey real estate company can guarantee you that they will, in all cases, work as a true buyer's agent and not become a dual agent. The 2 exceptions are the 2 companies in NJ that do not list homes (work for sellers) and so they have no potential for dual agency. If you are a consumer, looking for a buyer agent in your area, you may find an EXCLUSIVE BUYER AGENT (EBA) at: naeba.org. Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and work for companies that maintain that as the core of their business model. Paul Howard, Broker NJHomeBuyer.com Realty (member of NAEBA) Cherry Hill NJ 08002 856-488-8444
All home buyers have a right to negotiate the commission paid to their agent with that agent and enter into a contract stating the terms of that agreement, and they further have a right to condition their offers and contracts on the seller's agreement to pay that commission in full. This includes short sales.
Any third party (including a lender in a short sale or the listing agent) to the the buyer agent contract that tries to force a change in the terms to that contract is in violation of the law. Specifically, if they are aware of the terms of that contract, they would be guilty of Tortious Interference with a contract. see http://en.wikipedia.org/wiki/Tortious_interference
If an agent is unable to negotiate their own commission with a buyer - why should the buyer trust the agent to be able to negotiate a favorable sales price and terms for them. Find a real buyers agent - or at least an agent with the guts and experience to act as an advocate - if they are unable or unwilling to put the terms of their own services in writing - move on.
As for short sales in general - most never settle. MOST of the time - they are a waste of time. Unless you can confirm that the seller has ALREADY been financially approved for a short sale don't waste your time. Even then it is a long shot.
I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call me today.
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