Exclusive Buyer Agency is what I practice in Winston Salem and surrounding communities! I get these types of calls at least once a week, because most Buyers don't undertand North Carolina Buyer Agency Laws either. Thanks to Carla Muss-Jacobs for sharing the "Exclusive Buyer Agency" concept in this post!
"I don't care who I talk to . . . I just want to buy the house."
This was a statement made by a caller a few days ago.
The call started off with: "Hi, I'm calling on your listing . . . " and then my mind wandered off.
I don't have listings as an Exclusive Buyers Agent. I am THRILLED when I get calls because it means my site is being used by consumers to search for homes. When buyers call on "my listing" I zone out for a second because there are over 14,000 active listings at any given time which are run through my site via the IDX.
After the caller tells me about the property, I'm honest and tell them I'm an Exclusive Buyers Agent . . . my brokerage does not take listings or represents the sellers (as is clearly advertised on my web site.)
After explaining this, I offer to assist them further and I gladly look up the property, or ask if I can be of further assitance to the caller.
I often ask: "Why would you want to call the listing agent?"
In this particular case, the caller replied: "I don't care who I talk to . . . I just want to buy the house."
----------------> This is the worst attitude ANY buyer could have <----------------
Just wanting to buy the house does little, if anything, to protect and/or promote the buyer's best interests.
Not caring who you talk to, when you are a buyer, is counter-productive.
You can easily let the cat out of the bag!!
The listing agent works for the SELLER. They will not / can not advocate on the buyer's behalf. Even if there is full disclosure on dual agency, the buyer just wanting to buy the house, not caring who they talk to, may not receive FULL REPRESENTATION without any conflicts of interests.
A buyer would be better served having their own agent, who can, and will, perform the following:
- Showing all property that may be better values for the price range, location of preference, etc.
- Provide accurate information on the property
- Explain forms and agreements
- Monitors closing/escrow
- Assist in arranging financing (if necessary)
- Keeps financial position confidential
- Promotes / protects buyers best interests
- Negogiates sales price
- Negotiate terms and conditions
- Mantain confidentialty
In this case of the caller, it was a wash. He was really not interested in "just buying the house" which turned out to be a mobile home on 6 acres of leased land. He was not going to buy that house, but he thought so. I like to work with serious buyers, grounded in reality.
EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an Exclusive Buyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary duty is: 100% BUYER REPRESENTATION . . . 100% of the Time.
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