Most real estate agents represent sellers. Everybody knows that. Right?
As an industry insider I'll tell you why: Most training, seminars, classes and continuing education are geared toward getting more listings, i.e. representing sellers. Buyers? They are "customers" who come to buy the houses being sold. Even agents who like to work with buyers are trained to "get" them through listings.
- Open houses for listings is a way to find unrepresented buyers.
- Toll-Free numbers on signs "capture" buyer's phone numbers.
- Flyers and ads with critical information missing are geared toward getting buyers to call the agent for the information which has been withheld.
"List to last" is a motto in the industry. The key to getting more buyers is more listings. (I won't even repeat what is often said about buyers.)
So how (and WHY?) does a broker survive without listings and by representing buyers ONLY?
First, I'll be honest. It's not as easy as being a traditional agent. There are no bonuses for selling "in-house" listings, no double or triple ending transactions, and no signs in yards or flyers or ads for any particular homes for sale to "capture" buyers. Ask any agent you know if they could survive without listings and most would tell you there is no way.
I'm here to tell you that there are agents who, in spite of the odds stacked against them, are surviving and thriving working for buyers only.
There is nothing more rewarding than being free from the obligations that most traditional agents have to promote and push specific properties. Exclusive Buyer Agencies (EBAs) have no legal obligations to any sellers requiring us to "sell" their home. We can, without bias, give a full and proper consultation to buyer-clients, evaluate their needs, and be just as willing and excited to help them buy ANY house that meets their needs. (By the way, traditional agents aren't "evil", they simply have contractual obligations to sellers to "sell" certain properties. It would be "evil" of them NOT to try and sell these homes at the best price and terms for the sellers. After all, that's what they were hired to do.)
- Can an agent who is hired to sell a certain property provide the buyer with a market analysis that would suggest that the buyer make an offer lower than the seller's asking price? They cannot. That's harmful to the seller... their client.
- Could the agent point out to a buyer ways in which they could get out of the contract during the transaction? Certainly not. That isn't in the seller's best interest. Listing agents have legal obligations to sellers.
I hope you can see that "agency" (or representation) is a big deal. Having a representative on your side in the transaction is a big deal. You are at a huge disadvantage if you are not represented, or if you "think" you can be properly represented by the agent who works for the sellers.
In my early years as an agent I saw many buyers being treated as customers, not clients. Agents and brokers are well trained in how to get both buyers and sellers to sign "limited agency" agreements, agreements that remove key duties of representation and essentially turn the agent into a "neutral" third party. In spite of lowering the level of representation they provide to both buyers and sellers, these agents often... usually, collect twice as much in commissions and fees, sometimes more. Unfortunately for many consumers, they aren't even aware that they agreed to a lower form of representation. (Lack of disclosure between agents and consumers is a known issue in the real estate community.)
Seeing that buyers generally got the worst end of the deal with regard to representation (since most sellers initially start their journey with representation and most buyers don't) I decided to create a company that would empower buyers with the knowledge that they could (and should) hire an agent that would work exclusively in their best interest and remain loyal to them throughout their transaction.
Our brokerage represents Buyers ONLY. We do not list properties and we protect our client's interests throughout the transaction, whether that means taking it through to a successful close, or taking the deal apart. We are hired directly by our clients and we offer full fiduciary duties to our clients. We do not ask our clients to agree to limited or dual agency. Simply put: we represent buyers, NOT sellers.
If you see the value of having a representative on YOUR side, we are here to help you!
- Do you have excellent credit?
- Do you plan to purchase a $300,000-$800,000 home within 60 days?
- Do you have a good down payment, or are you paying cash for your next home?
- Do you want an agent on YOUR side throughout your transaction?
- Do you simply have questions about how things work?
Don't work with just any agent. Get YOUR OWN agent!
Call us at (801) 969-8989 or contact us today via the link on this page for a free consultation.
©2013 Homebuyer Representation, Inc. - "The Real Estate Agents on the Buyer's Side" TM
Salt Lake City, UT - Exclusive Buyer Agents (EBA)
All Rights Reserved
For more information, or for relocation information on finding the best buyers agents nationwide, visit GetYourOwnAgent.com
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