Exclusive Buyer Agent

By Julie, on May 7th, 2010

An exclusive buyer agent (EBA) is an agent or broker who represents only buyers of real estate. EBA firms do not have seller listings and they never represent the seller in a real estate transaction. There is a conflict of interest when a real estate firm represents the buyer and seller in the same transaction.

In the late 1980’s and early 1990’s, there was a rise in the number of exclusive buyer agencies. Now there are EBA’s in almost all of the 50 States.

In the United States real estate firms can represent both buyer and seller in the same transaction. When that takes place, the firms derive profit from both the seller and buyer sides of the transaction. EBAs do not believe it’s possible to simultaneously represent clients with opposing interests. Also, some states consider this practice to be illegal while others allow it.

Complexity of Disclosure Laws

By Julie, on March 2nd, 2010

More than 30 states have disclosure laws requiring sellers to tell prospective buyers and buyer brokers about leaky roofs and other problems, according to the National Association of Realtors. But there’s often a gray area involving the disclosure of problems the seller may not know about, such as a long-ago flood or hidden mold.

States are also increasingly passing laws requiring homeowners to disclose environmental issues, such as the presence of radon gas, a contaminant linked to lung cancer, and underground fuel tanks. In California, the checklist of required disclosures is so long that a cottage industry has sprung up of firms that help sellers prepare the forms.

If you would like help from a broker who specializes in representing the buyer with these disclosures and so much more, please click here .

What other forms of protection does an Exclusive Buyer Agency (brokers who specialize in representing the buyer) provide?

What Sellers Don’t Tell Buyers

By Julie, on February 25th, 2010

Eager to unload their abodes, some sellers exaggerate the size of their lots or their houses. Others minimize their property-tax or utility bills, conveniently forget about pests, or downplay flooding problems or noise.

Real-estate experts and Real Estate Investment advisors say that while such misrepresentations aren’t new, the tough market of the past few years has made buyers more wary, partly because they can’t expect rising home prices to bail them out of costly mistakes. As a result, deals are taking longer, and more of them are falling apart as buyers find properties sometimes aren’t all they’re supposed to be.

Please click here to find an exclusive buyer’s agent in your area to help protect you in your home search.

Do you have any stories to share about buying a home?