According to the National Association of Realtors® publication 'Agency - Choices, Challenges, and Opportunities', Exclusive Buyer Agency is: "The practice of representing only buyers and never sellers in a transaction. The company never lists a seller's property and thus never has a seller as a client. Agents never accept subagency that is offered by a seller's agent" (pg. 25).
Recently, a lot of traditional Agents have started advertising that they will represent buyer's. While this is legal in most states even the National Association of Realtors® warns it's members: "Buyer agency is viable method of practicing real estate, but an agent should be cautious in her approach if she is not thoroughly knowledgeable about the entire process. Agents who are used to working with buyers as seller's subagents need to be aware of the new duties and potential liabilities of buyer's agents before changing the form of representation they offer." (pg. 18).
This publication goes on to say that Exclusive Buyer Agency "Promotes a more natural relationship for agents working with buyers" (pg. 26).
In talking about an agent who tries to offer both seller agency and buyer agency it states "The buyer and seller do not have the full range of representation" (pg. 27).
Any agent who lists properties for sale is used to representing sellers and has a legal commitment to protect the sellers interest. The agent must get the highest price possible for the property.
If the Agent, or his or her agency, lists homes for sale they cannot be an EXCLUSIVE Buyer's Agent!
Los Angeles County/San Fernando Valley:
Agoura, Agoura Hills, Aqua Dulce, Arleta, Bell Canyon, Burbank, Calabasas, Calabasas Park, Canoga Park, Canyon Country, Chatsworth, Encino, Glendale, Granada Hills, Hidden Hills, Kagel Canyon, La Canada/Flintridge, La Crescenta, Lake ViewTerrace, Mission Hills, Montrose, Newhall, North Hills, North Hollywood, Northridge, Oak Park, Old Topanga, Porter Ranch, Reseda, San Fernando, San Fernando Valley, Santa Clarita, Saugus, Shadow Hills, Sherman Oaks,Studio City, Sunland, Sun Valley, Sylmar, Tarzana, Toluca Lake, Topanga, Topanga Canyon, Tujunga, Valencia, Valley Village, Van Nuys, Verdugo City, Warner Center, West Hills, Westlake Village, Winnetka, Woodland Hills
Agoura Hills, Brandeis, Camarillo, Hidden Valley, Lake Sherwood, Moorpark, Newbury Park, Oak Park, Santa Rosa Valley, Santa Susana, Simi Valley, Somis, Thousand Oaks, Westlake Village
What can an EBA do that others can't?
What are Fiduciary Duties and why are they important?
The Secret Big Corporations Have Known For Years
Our Standards Of Practice - Exactly What We Will Do For You
What Others Say About Buyer Agency
Should you use the Agent who sold your home as your Buyers Agent?
Take Some Confusion Out Of The House Hunting Process
Find an Exclusive Buyers Agent in a different city or state
Why You Should Not Buy a Car
So, you got a raise or a "windfall" or a big tax return check.You may find yourself confronted by an the hazardous instinct of we all have that says, "Let's buy a new car".
A few months later your thoughts turn toward buying your own home. Or, if you already own a home you would like to move up to a larger home.
So, you contact a loan officer to get qualified for a mortgage loan. You give the lender the information about your income, how much you have for a down payment, and so forth.
Then you hear some dreaded words: "I wish I could help you, but you have this car payment......."