U.S. President Barack Obama met Thursday with the President of the National Association of Exclusive Buyer Agents to express his support for the efforts of the consumer friendly non-profit association which educates consumers about their right to equal representation in the real estate transaction.
The President just recently became aware of Exclusive Buyer Agency at a joint meeting of the U.S. Department of Housing and Urban Development and the Consumer Financial Protection Agency. He was intrigued by a section within HUD's new guidebook, which details ways in which consumers can protect themselves when buying a home and obtaining a mortgage loan.
In his remarks, he stated that Exclusive Buyer Agency, or hiring a real estate company that will represent only you as a buyer, "just makes sense."
"Now, let me be clear..." he said. "I've bought and sold a number of homes over the years, but I've never heard of Exclusive Buyer Agency. Being guaranteed in writing, up-front, that my agent would not ask me to limit my level of representation... ever... regardless of the home I wanted to buy... I didn't know that type of real estate brokerage existed."
When asked what he thought about the growing trend of buyers to seek out and hire Exclusive Buyer's Agents to represent them in their real estate transactions he said, "These are the types of change we hope to hear about in the real estate and financial sectors. I congratulate the National Association of Exclusive Buyer Agency and its members for all they do to educate consumers, and to protect consumers throughout the home buying process. From NAEBA, consumers can get clear information they can understand about the home buying process."
The head of the Consumer Financial Protection Agency, speaking at a press conference in Washington last Monday, also gave his endorsement. "Exclusive Buyer Agency levels the playing field in the real estate transaction. Sellers usually have an agent on their side of the transaction. Now Buyers can have equal representation."
If you have excellent credit and will be buying a $300,000-$800,000 home within 90 days and would like an agent who will work exclusively for you, make sure you get an Agent on YOUR side of the transaction! Make sure you hire an E B A!
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Exclusive Buyer's Agents do not list homes for sale and never represent Sellers. They have no "inventory" to try and push on you. They can represent you in purchasing any home. They are specialists at representing Buyers ONLY on the Buyer's side of the transaction. Exclusive Buyer's Agents work to get BUYERS the Best Price and Terms when they Buy a home...
THIS ARTICLE IS AN APRIL FOOLS JOKE! (Except the part about buyers of real estate being able to hire agents who will only work for them and not against them. That part is true!)