Not all real estate agents are equal.
According to the law, a seller's real estate agent must work in the best interest of their client, the seller. This includes giving the seller any information the agent gathers about a buyer's finances, their motivation, or anything else that could benefit the seller in negotiations. With this in mind, you should find it very uncomfortable to answer almost any question posed by a sellers agent. What seem to be harmless questions from an agent at an open house or over a phone conversation can significatly hurt your bargaining power and cost you money.
Unfortunately, many listing agents tell buyers that they can work with them as their "buyer's agent" and "help" them buy the house. Often, without proper disclosure, the buyer will then be asked to sign an agreement limiting the level of representation they will receive. The agreement may state that the agent will be representing the seller only and will continue to look out for the seller's best interests throughout the transaction. It could also say that the agent will attempt to represent both the buyer and the seller. (Huh? It doesn't make sense to us either, but this arrangement is legal in many states.) In either situation, there is really no agent looking out for the buyer and their best interest.
Exclusive Buyer Agents (EBAs) work only for buyers. If you contract with one for representation they become legally responsible to look out for your best interest. EBAs work for companies that don't list homes and don't represent sellers. A Buyer-Agency Agreement with an EBA is your agreement with the brokerage that makes them contractually obligated to get YOU the best price and terms in your real estate purchase.
Hiring an Exclusive Buyers Agent assures you that the agent you are working with will work on your behalf ONLY and will protect your best interests, and not those of any seller. If there are no EBAs in your area, there are often agents who will commit to working just for you in your transaction, allowing you to use a different agent to represent you in your transaction if you show interest in one of their company's listings.
- 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?
Don't work with just any agent. Get YOUR OWN agent!
Call us at (801) 969-8989 or contact us today via the link on this page for a free consultation.
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Salt Lake City, UT - Exclusive Buyer Agents (EBA)
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For more information, or for relocation information on finding the best buyer's agents nationwide, visit GetYourOwnAgent.com