Exclusive Buyer Agents-Who Are We?

By
Real Estate Agent with Buyer's Edge Company Inc
https://activerain.com/droplet/4CMd

Exclusive Buyer Agents work for Exclusive Buyer Brokers

 

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 representation in real estate is too common.  

So who was the Agent at the Open House?  

He's a real estate agent for the company listing the home for sale. He sits in for the listing agent at the Open House hoping to find Buyers. These Buyers may want to buy the "Open House" home or another home.

Either way, this is a common way for agents to find unrepresented Home Buyers.

As a Home Buyer, you may ask-

"How could this agent truly represent me if his company is listing the home I want to buy?" "Will he really work to get me the best price for the Buyer?"

"If the home inspection turns up something really bad, will this agent work to get me out of the deal?"

"Can he really work for me, if his company is listing the home for sale?"

 

Who Are Exclusive Buyer Agents?

  • at Buyer's Edge in Bethesda Maryland, we are licensed Realtors in Virginia, Maryland and Washington D.C. with no conflicts of interest. We offer dedicated expertise to Home Buyers
  • Exclusive Buyer Agents have access to the entire real estate market with no in-house inventory to sell
  • Our goal is to get you the house you want while protecting your interests and getting you a good deal. We do extensive research & negotiate hard for our Buyers
  • several of us, including Marshall and me, are former clients of Buyer's Edge. We understand the value of an Exclusive Buyer Agent 
  • as members of NAEBA, we offer undivided loyalty, full disclosure and confidentiality to our clients. We practice the Realtor and NAEBA code of ethics 
  • Exclusive Buyer Agency is a refreshing straight forward approach to buying a home. Since 1992, Buyer's Edge has offered full Buyer representation.  

Finally, a friend recently asked me if I was licensed to List a home for sale. Yes!

I am a fully licensed real estate agent, Associate Broker in Maryland, Virginia and Washington D.C.

I choose to work with Home Buyers because I know they deserve uncompromised represention. 

4849 Rugby Avenue Bethesda Maryland 20814 office 301.657.1475 cell 301.922.1677

 

 For more on designated buyer agents, cooperating agents, dual agency, or intra-company agents, follow the link or you can read "Understanding Whom Real Estate Agents Represent" from the Maryland Real Estate Commission.

Real estate laws are different for every state and jurisdiction. To find Exclusive Buyer Agents in your area, check the National Association of Exclusive Buyer Agents website

Posted by


4849 Rugby Avenue Bethesda Maryland 20814 office 301.657.1475 cell 301.922.1677

 

Victoria Henderson is Vice President & Associate Broker with Buyer's Edge, Exclusive Buyer Agent & Realtor in Virginia, Maryland and Washington DC. Victoria is a certified Military Relocation Professional 

 

 

Marshall Henderson is a Certified Negotiation Expert & Exclusive Buyer Agent with Buyer's Edge & Realtor in Virginia, Maryland and Washington DC

Certified Negotiation Expert

 

Members of National Association of Exclusive Buyer Agents

Not Just a Buyer's Agent, an Exclusive Buyer's Agent. There's a Difference. Learn more at: 

 HomesBuyHendersons.com & BuyersAgent.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Groups:
The Art Of Marketing You
POSITIVE ATTITUDE for the Weary Soul
Advice for Buyers
Tags:
realtor
exclusive buyer agent
dual agency
buyer agent
buyers edge
naebaorg
what is an exclusive buyer agent
the best buyer agent
real estate agents represent

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,262,653
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

I'm bookmarking this one -  I think you'll see sparks flying here soon!

May 03, 2015 05:19 AM #1
Rainmaker
886,298
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

I think exclusive buyer representatives can make a case for their value proposition without disparaging other business models.
The idea that agents cannot truly represent a buyer client's interests simply because they also have listings is false, misleading, and petty.

May 03, 2015 06:21 AM #2
Ambassador
378,894
Karen Hurst
RICOASTALLIVING.COM - Warwick, RI
Rhode Island Waterfront!

I think the Listing Agent was just trying to be sociable and letting you know that he can also represent other buyers! Not your buyer but others. I am sure it is different in all areas, but at least where I am from, we all try to be ethical no matter whom we are representing, because bottom line we are representing everyone in a transaction. I commend you for wanting to be an exclusive buyers agent, however, that certainly does not mean all listing agents are evil! I do both, and I can honestly say that I work even harder at being fair when I have both sides of the transaction.

May 03, 2015 06:37 AM #3
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Alright Susan Emo

May 03, 2015 06:53 AM #4
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thanks for the comments Karen Hurst! It's good to work hard at being fair for all parties involved. Have a great week! 

May 03, 2015 07:05 AM #5
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

J Philip Faranda-buyers need to understand who is looking out for their best interest. There is nothing petty. false or misleading about Buyers having a solid understanding of real estate representation. 

May 03, 2015 07:18 AM #6
Rainmaker
761,925
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Oh where DO I begin!

I AM an Exclusive Buyer Agent...when I have a Buyer that signs a Brokerage Agreement and agrees to work with me...then they have my full attention. 

But let's go to this Open House example first. So, I'm sitting in an Open House on MY listing (well it has the brokerage name on it, but it's MY listing) I'll welcome them, and ask them to sign the register. They may, or may not. I'll then ask them, are you currently working with an agent? (Yes or No) If Yes, I'll ask who...chances are 90/10 I'll know the agent. Great. If not, I'll let them look around the home. If I have time, based on traffic, or their timeframe, I'll chat with them about working with an agent and the benefits. 

But this notion of Exclusive Buyer's agent is, in the words of J. Philip Faranda is petty. When I work with a Buyer, it is exclusive. When I work with a Seller, it is exclusive. To imply that I have a listing, but can't be an Exclusive Buyer's Agent is incorrect. I just would not be exclusive for that listing...I already represent the Seller. If my Buyer wanted to see my listing, I'd certainly SHOW it to him. But it would stop right there. If they wanted to proceed, I'd have them assigned to another agent in my office so they would HAVE a Exclusive Buyer Agent working for them.

Now, if agents go both ways, I can't do anything about that. All I can do is educate those I come in contact with as to how is representing who. 

May 03, 2015 08:21 AM #7
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

You ask where to begin Thom Abbot? Check this website: naeba.org

 

May 03, 2015 08:34 AM #8
Ambassador
2,880,976
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

You imply a buyer would be compromised working with a buyer's agent at a firm that takes listing.  Perhaps you would compromise them with that business model, but not all of us would. 

May 03, 2015 01:11 PM #9
Ambassador
1,370,620
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

I love that some brokerages choose to practise just exclusive buyer's representation. I think the way you had mentioned in the blog made it sounds negative in this particular context but not necessarily in real life. And again, a blog is just an opinion and there isn't a right or a wrong. 

May 03, 2015 07:58 PM #10
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Thank you Loreena Yeo, have a great week

May 03, 2015 08:07 PM #11
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Tammy Lankford, the implication is in the agreements buyers sign when choosing representation, not with the particular agents.

May 03, 2015 08:10 PM #12
Rainmaker
376,412
Dana Hollish Hill
Hollish Hill Group, KW Capital Properties - Bethesda, MD
Lead Associate Broker

There are clearly agents who feel that they can work both sides of a transaction. I am not personally one of them. I fight like crazy for my clients and couldn't really do that as a facilitator, transaction specialist, dual agent, etc. For me, I sleep better at night working for a company that NEVER represents a seller so we NEVER deal with dual agency. I like to think of dual agency as arm wrestling oneself. Try it. You have to pick a winner and a loser. If you arm wrestle someone else, you can put all of your energy behind one client/arm. 

Law firms don't represent opposing clients in the same deal and I don't represent both sides of a transacation. I just the wish the public and buyer agents who work at traditional firms would understand the difference between a buyer agent and an exclusive buyer agent. 

May 14, 2015 02:28 AM #13
Rainmaker
297,590
Victoria Ray Henderson
Buyer's Edge Company Inc - Bethesda, MD
Real Estate for Home Buyers with Buyer's Edge

Well said Dana Hollish Hill! naeba.org or buyersagent.com are excellent sites to find out more about exclusive buyer agents/agency

May 14, 2015 03:25 AM #14
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
297,590

Victoria Ray Henderson

Real Estate for Home Buyers with Buyer's Edge
Looking for Buyer Agents in Maryland, Virginia or Washington DC
*
*
*
*
Spam prevention