dual agency: Ignorance is Not Bliss in Real Estate
- 05/06/19 11:47 AM
Photo by Darius Bashar on Unsplash The Consumer Federation of America released a report in January 2019 titled, The Agency Mess Home Buyer & Seller Confusion and Costs related to diverse and poorly enforced State laws about the Role and Responsibility of Real Estate Agents
I encourage all home buyers and sellers to read this extensive report since it impacts one of the most expensive financial decision you will make in your lifetime. The author of the report Stephen Brobeck had this to say,
"Today, many home buyers and sellers do not know whether their agent is representing their interests, those of the other party, or those of neither. Given … (2 comments)
dual agency: Dual Agency and Exclusive Buyer Agents
- 04/20/17 06:25 AM
Exclusive Buyer Agents represent buyers 100% of the time never sellers Exclusive Buyer Agents are fiduciaries of home buyers with no conflicts of interest and loyalty to the home buyer in every real estate transaction. Buyer agency is a real estate business model dedicated to buyer representation. Buyer Brokerages never take listings and never work for sellers. In a Kiplinger magazine article, they describe exclusive buyer agency;
"Unlike traditional agents, EBA's don't work for listing brokers, so they avoid the risk of dual agency - when one broker represents both parties. EBAs are still paid by the seller, but they can promise to represent your … (10 comments)
At a recent Open House, my clients and I were greeted by a real estate agent. He was working for the Seller, sitting at their kitchen table. He takes my card, looks at my title, Exclusive Buyer Agent, and says, "Oh, I'm a buyer agent too." Really? And then to further make his point he adds, " Yea, I am a designated buyer agent. Took the course last month." My clients later asked, "What was he talking about?" An excellent question and one example of the confusion that abounds in real estate language. The confusion about … (14 comments)
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