I've been noticing that many Agents / Buyer Agents are marketing themselves as "Exclusive" Buyer Agents and it's a Mockery!
Several definitions: "exclusive": 1. shutting out all others from a part or share; 2. admitting only members of a socially restricted or very carefully selected group; 3. limited to the object or objects designated. "mockery": 1. an imitation, esp. of a ridiculous or unsatisfactory kind; 2. something absurdly or offensively inadequate or unfitting
There are a couple of agents in this area that I have co-oped with that I know for certain are not exclusive to buyers. I've ALWAYS worked the buyer side and these agents were representing the seller during transactions with my buyers. I find many people in society will follow another without full understanding of what they are doing. They do not research the verbiage before attaching themselves to it. The do not comprehend what it takes to accomplish such exclusivity, the hard work it takes to gain the trust of individuals in a specific group trusted by a group (buyers), the apart from others in a field, to gain respect and trust from the group and to work to market themselves in an honest way. These type people are what makes the world go round, I understand, but I hate to see buyers get caught up and blindsided by dishonest marketing strategies by agents that have no clue what they do.
So Unless the Buyer Agent is in a Brokerage that ONLY helps Buyers they are not "exclusive", they can't be if you understand the term exlcusive and understand that the contract is between the Broker and the Buyer / Seller. IF the agent list properties they are not "exclusive" to Buyers. IF at any time a Buyer Agent represents a seller IMO they are not true Buyer Agents, much less an Exclusive Buyer Agent. Unless an agent is with an Exclusive Buyer Brokerage they can not be Exclusive Buyer Agents.
I did a lot of research on this before opening my brokerage. I spoke to several other Exclusive Buyer Agents, the National Association of Exclusive Buyer Agents and several Buyers. If an agent is misrepresenting the fact that they are "exclusive" to buyers it is indeed only a way to market themselves and misrepresent themselves to unknowing buyers; i.e. "to reel them (buyers) in and make a buck"
I post on my website that a buyer should first use an Exclusive Buyer Agent at the minimum use a Buyer Agent / Buyer Specialist for representation. But I do have a problem with supposed Buyer Agents calling themselves Exclusive Buyer Agents. SO Buyers if you see that an agent is stating that they are Exclusive Buyer Agents, ask them what that means to them. Visit http://www.homebuyersco.com/ and find out what a true Exclusive Buyer Agent does and what it means for you and your transaction.