Different Types of Real Estate Agents
Listing or Seller's Agent: These agents are the "traditional" type of real estate agent. A listing agent works on behalf of the seller and represents them, looking out for their best interest in the transaction.
Buyer's Agent: A "Buyer's Agent" is usually a traditional agent who is working for a buyer in a transaction. The "buyer's agent" may also work for sellers in other transactions as their listing or seller's agent.
Dual-Agent or Limited Agent: An agent who works for both the buyer and the seller in the same transaction in the capacity of a dual-agent or a limited agent has duties to both parties. Many of these agents also believe they have a duty to the transaction, that is, to get the sale to close. Because this type of agent cannot provide both parties with undivided loyalty, full confidentiality and full disclosure of all information known to the agent, both the buyer and the seller in these transactions receive a lower level of representation than they would receive if they had an agent exclusively working for them.
Transaction Broker or Transaction Facilitator: Some states allow agents to facilitate transactions while offering very limited or no agency-level services to buyer or seller. While this is one of the lowest levels of representation, it may still be better than having no representation and/or believing you are being represented while you are really working with an agent that represents the other party.
Exclusive Buyers Agent: An agent who represents buyers only and never sellers in a transaction is an Exclusive Buyer's Agent. Exclusive buyer's agents (EBAs) work for companies that take no listings and never represent sellers. Only with an EBA can you be sure your agent will remain fully loyal to you and you alone as a buyer throughout your transaction.
- Do you have excellent credit?
- Do you plan to purchase a $300,000-$800,000 home within 60 days?
- Do you have a good down payment, or are you paying cash for your next home?
- Do you want an agent on YOUR side throughout your transaction?
- Do you simply have questions about how things work?
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Salt Lake City, UT - Exclusive Buyer's Agents (EBAs)
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