I was reading an Angie's List magazine column this morning and I couldn't help but feel for some of the commenters who were (and perhaps still are) distrusting of real estate agents.
For example, one commenter said:
"One caveat about using a home inspector: Make sure you use someone who is recommended by a friend NOT the real estate agent who is trying to sell you A HOUSE. Our "inspector" missed all kinds of major problems that we were not looking for being from another area and not knowing what to look for..."
"...our story exactly. I will never the mistake of relying on the real estate agent's inspector."
As an Exclusive Buyer's Agent, I couldn't help but wonder how these individuals' situations could have turned out differently if they understood the value of having an agent 100% on their side.
Agency Disclosure is a huge problem in real estate, yet nobody seems to be doing anything about it. Consumers need to get smarter and make sure they aren't taking advice from the agent representing the Seller!
As a Buyer, does it make any sense at all to take advice from the agent representing the Seller? It does not.
There have been times throughout my career where a home inspection, a market analysis or a home appraisal has been given to my clients from the Seller or their agent. While in some cases, such materials may be fair and unbiased, in many cases they are given to give the Buyer a sense of security regarding the condition of, or value of the home that Seller and their agent are trying to sell. In such instances, while we will look at the materials and information and we thank them for providing it, we still recommend that YOU (the Buyer) hire your own professionals to do analyses with YOUR best interest in mind. YOUR best interest is not necessarily buying THAT home. YOUR best interest is understanding as much as possible about the home you are interested in so you can decide whether you still want to buy that home, or whether you should keep looking at other properties.
There are agents out there who work only for Buyers. They have no listings. They have no "inventory" to "sell" you. They are just as willing to take you out of a contract as help you get into one, if that is what is in your best interest. And YOU decide.
Such an agent is called an Exclusive Buyers Agent or an EBA. An Exclusive Buyer's Agent works for a real estate company that takes no listings and never represents Sellers. They work for Buyers 100% of the time. They will not try and downgrade your relationship with them to limited or "dual" agency... which means the company attempts to represent both the Buyer and the Seller in the same transaction. An Exclusive Buyer's Agent can promise full service throughout your entire transaction because they flat-out do not represent Sellers.
Ask yourself these 3 questions:
- Do you have excellent credit?
- Are you looking to purchase a $300,000 - $800,000 home within 90 days?
- Are you making a substantial down payment (5% of the purchase price or more) or paying cash for your next home?
If so, don't buy a home without an agent on YOUR side of the transaction!
Make sure you hire an Exclusive Buyer's Agent!
Call us at (801) 969-8989 or contact us via the link on this page.
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Salt Lake City, UT - Exclusive Buyer Agents (EBA)
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