In A Real Estate Transaction . . . Who "Represents" Whom?
In the beginning . . . everyone worked for the Seller.
In recent years BUYER AGENCY has emerged and home buyers across the Nation can have their OWN BUYERS AGENT REPRESENTING THEM when buying a home.
The concept of buyers having their own representation has been supported from many top real estate agents around the states.
I couldn't agree more. When Portland buyers turn to the listing agent they are NOT getting proper representation. Period.
"In most U.S. states and Canadian provinces, until the 1990s, buyers who worked with an agent of a real estate broker in finding a house were customers of the brokerage, since, by most common law of most states at the time, the broker represented only sellers. It is only since the early 1990s that states passed statute law to create buyers' agency.
Buyer agency can exist exclusively (where a brokerage firm chooses to only represent buyers and never sellers, as an exclusive buyer agent) or, in a full service company, by offering buyer agency to buyers who become clients. Buyers would have to agree to some form of dual agency in the event that they wished to buy a home which that company has listed for sale and for which it represents the seller. ~~ Wikipedia.org"
What Top Realtors® Across the Country Are Saying About Buyer Agency
Deba Maxwell is a Broker with Savvy + Company in Charlotte, NC. She has posted several articles about Buyer Agency and Buyer Representation. She's an experienced agent working with both buyers and sellers in the Charlotte, NC market. To hear Debe tell it, you'd think Buyers would realize this valuable concept.
Jane Peters is a Broker in the Los Angeles area and works the high-end area of the Los Angeles marketplace and focuses attention on condos in the Wilshire Corridor. Jane works for clients in high-end leases, rentals, assists property owners, buyers, sellers, etc. When she writes about the benefits of using a BUYERS AGENT. . . she's got a point coming from years of experience.
Renee Burrows is a Broker in Las Vegas. Renee does high-volume work with REO's, as well as traditional listings and working with buyers. Her recent article is a very astute tongue-in-cheek example of how buyers who are unrepresented in the Las Vegas market are not doing themselves any favors.
What This Buyers Agent In Portland Has Written
In the past, I've written several articles about buyers having their own representation.
- Calling the Agent On the For Sale Sign -- Good Idea?!?
- Why Buyers Need Their Own Buyers Agent in Portland
- Is There A Difference Between a Buyers Agent and a Realtor®
The Message to Buyers is Clear
From Realtors® across the Nation, the message is clear:
Buyers need their own representation when buying a home.
Carla Muss-Jacobs is one of the few agents in the Nation who practices Exclusive Buyer Agency and is a member of the National Association of Exclusive Buyer Agents.
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