"A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent. That's why many people believe an "exclusive" buyer broker is preferable. If there aren't any in your area, and you have to use a listing broker, "make sure they disclose when they are showing you properties they have a financial interest in," says Stephen Brobeck, executive director of the Consumers Federation of America." Business Week
"When one salesperson has a home listed for sale, and another salesperson working for the same brokerage locates a buyer, the second salesperson can't be a true buyer's agent. Why? Because both people work for the same brokerage. Robert J. Bruss - Real Estate Weekly/The Virginian-Pilot
"Buyer brokers: agents that buyers can call their own...If your real estate agent isn't a buyer broker, he works for the seller... Buyers no longer have to fend for themselves." U.S. News & World Report
We should not offer anything less than 100% client-level services to our buyer/seller clients. We should reject all anti-consumer proposals that do not offer our clients protective fiduciary duties and responsibilities." - Robert McAvoy - President of the New Hampshire Assoc. of Exclusive Buyer Agents
"Buyer brokers have the buyer's interests in mind. They act as a personal advocate, hunting for the right house and haggling with the seller's agent. In fact, a 1992 study by a national long distance phone company, found that 200 relocating workers who used buyer brokers paid an average of 91% of the offering price, whereas those using traditional brokers paid 96%." - Diversion Magazine for Physicians
"Buyers and sellers get less service in a deal with dual agents because they no longer have someone bargaining on their behalf, but the brokerage reaps a higher profit because it keeps the whole commission." - Detroit Free Press
"Consumers should be aware that any buyer's agent agreement that includes a dual agency possibility (representing both the buyer and seller) is not acceptable." - Alan Fields, co-author of "Your New House"
"You'll get the surest representation from a single-agency broker or an exclusive buyer's broker." - Kiplingers Personal Finance Magazine
"You have a choice of working with a traditional Realtor who spends 90% of their time soliciting listings and representing sellers. Or choosing an Exclusive Buyer's Broker, who spends 100% of the time helping the home buyer get the best house possible. Make sure you choose an exclusive buyer's broker. There is a difference." - Dan Birchman, Texas Real Estate Expert
To protect themselves, buyers can retain their own exclusive representative, but be aware that a buyer's agent who also works as a seller's agent can sometimes end up on both sides of the deal." - Business Week
“Nader again held up exclusive buyer brokerage as the only legitimate option for the home buying public.”
RALPH NADER-AGENCY LAW QUARTERLY AUGUST 1996
“Most agents who show you homes don’t represent your interests. They work for the seller and their object is to sell the house at the highest possible price.” - USA TODAY
“Level the playing field when you buy a home. You may get a better deal with your own broker pulling for you. The introduction of buyer’s brokers takes a horribly one-sided process and simply makes it fair.” - MEDICAL ECONOMICS
“The balance of power is changing as the number of brokers who serve only buyers grows. A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its agents as a buyers’ agent. That’s why many people believe an exclusive buyer broker is preferable.” - BUSINESS WEEK
“Buyer Brokers: agents that buyers can call their own.” “If you real estate agent isn’t a Buyer Broker, he works for the Seller.” Buyers no longer have to fend for themselves.” - US News
Links:
http://www.kiplinger.com/magazine/archives/clinch-the-deal.html
http://www.kiplinger.com/magazine/archives/shop-smart.html
http://www.kiplinger.com/magazine/archives/2007/03/buyers.html
http://www.kiplinger.com/columns/kiptips/archives/find-the-right-home-buyers-agent.html
http://www.kiplinger.com/basics/archives/2003/03/buying3.html
http://cgi.money.com/2008/08/29/real_estate/sellers_concessions_in_buyers_market/index.htm?postversion=2008082903
http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=MD012&SRCN=aoedetails&GnavID=84&SnavID=22&TnavID&AreasofExpertiseID=38
http://www.businessweek.com/archives/1995/b3441130.arc.htm
http://www.newsweek.com/2007/07/15/real-estate-call-your-agent.html
If you have good credit and are planning on purchasing a home in the next 60 days, call 1-801-969-8989 now, or click on “Get Your Own Agent” below to find an agent in the area you are buying in.