WHO’s AFRAID OF USING AN EXCLUSIVE BUYER AGENT
Go with a company that loves exclusive buyers agency so much that they give up listings. Only represent buyers. All the time. That is what every home buyer deserves.
Very few residential real estate companies practice exclusive buyers’ agency. So it is darn hard to find an exclusive buyer agent to represent you when you buy a home. Many buyers are afraid if they don’t use someone at a big company, they won’t see all the houses or know about all the “good ones” as soon as they are available. Some other myths about using an exclusive buyer agent are:
Maybe, but probably not. Why? Most agents are paid from the pool of money that the seller has agreed to pay at the very beginning of the process—when they first put the house on the market. At the time the house is put on the multiple listing service, there is a contract created with any buyer agent who brings a buyer to closing to be paid a set amount of that pool. So this is not something that adds to the cost of the home or is re-negotiated in each deal. It is baked into the price from day 1. This is true even though the buyer agent has never met the seller, has no duty to the seller and has no reason to favor one seller over another.
You may encounter an exclusive buyer agent who has a minimum commission, or seeks additional money from the buyer. But this is not required or necessary. If you are not happy with that, keep looking.
An exclusive buyer agent won’t be “in the know” about all the houses
It is true that there are some listing agents who keep their listings a secret and only tell their friends and co-workers about them. But this is very rare. By keeping the house from being available to all buyers, there is almost always a failure to achieve the highest price and so that is not in the seller’s interest. In my opinion, good agents market their listings as broadly as possible and welcome any and all buyers with their agents. So any buyer can see any house with any agent.
It is a common misconception that there are houses that are being missed. The chances of that happening are so remote that, balanced against kind of service you can get from an exclusive buyer agent, it isn’t’ even worth the time it takes to mention it. An exclusive buyer agent will talk you OUT of the wrong house, INTO the right house and will get you the terms you NEED and WANT.
The other agents won’t want to work with my exclusive buyer agent
All listing agents are happy to accept offers for their homes, are you kidding? And a good exclusive buyer agent knows how to write a good, strong offer in a way that will be easy for the agent to present to the sellers. A well-represented buyer is a listing agent’s dream.
Give an Exclusive Buyer Agent a Try!
Learn more about the advantages of using an exclusive buyer agent by contacting Sage Realty at 37 West Avenue, Suite 103, Wayne, PA 19087 by email: LindaWalters@SageRealtyLLC.com or by calling 610-687-4000. Visit www.FindAHominPA.com for more information about exclusive buyers agency and about the Philadelphia Main Line Area