Exclusive Buyer Agent and Agent Mockery

By
Real Estate Broker/Owner with The Home Buyers Dream Catcher

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.

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Rainer
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Fred Pickard
Fred Pickard Innovations Realty Inc - Hershey, PA
Hershey, PA

Sabrina,

A lot of agents think that because they represent only buyers with a traditional brokerage, they become exclusive buyer's agents.

I've interacted enough years with the Tom-Toms (Hathaway and Early) to know the difference. And while I don't like the pedagogy they use to push their agenda, I would try to find an EBA if I were not in the business myself.

Mar 17, 2007 05:12 AM #1
Anonymous
Dana Hollish Hill

Sabrina - Thanks for speaking up on this topic. There are all kinds of people who talk about being EBAs when they really aren't . I love the companies that claim they only work with buyers, but then have a sister company that works only with sellers. 

I work as an exclusive buyer's agent in a company that is an exclusive buyer brokerage and takes no listings. In fact, we can't even list our own homes for sale. I just went to check out your website and will continue to dig around. I recently launched my own site (www.hollish.com) and my broker was quick to notice that I had forgotten to make the distinction about working at an exclusive buyer brokerage.

I think it's funny that so many agents can't understand how we survive. The old, "If you don't list, you don't last" mentality. And it's amazing how uninformed the local CE classes are in regards to EBAs. It's as if the only purpose of a buyers agent if to be an assistance to a successful lister. I hope someday the classes we take reflect all types of representation.

Best of luck to you.

 

Mar 17, 2007 03:45 PM #2
Rainmaker
1,074,139
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Sabrina, I just caught up with your post.  I do not work with buyers only even though I do have the ABR designation. I do not know all the rules in your state, Michigan has an exclusive agency rule.  Which designates who you represent not that you have restrictions on your representation.  I do find, as you, the lose use of terms causes confusion and intentional disguise of who the agent really is in some cases.  Nice post.

May 17, 2007 10:46 PM #3
Rainmaker
389,585
Dana Hollish Hill
Hollish Hill Group, KW Capital Properties - Bethesda, MD
REALTOR and Productivity Coach

Sabrina - A dual agent by any other name is still a dual agent. Exclusive Buyer Agencies are the only places EBAs can work. It is amazing how traditional firms let their agents incorrectly use that language. 

Oct 10, 2013 07:05 AM #4
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Rainer
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Sabrina Aughey

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