Sunday, November 30, 2008

And you call yourself a Sarasota Buyer Agent?

I'm sorry, but I really must object.

There has been alot of emphasis put on the concept of the "buyer agent" of late, and rightfully so. Few consumers knew that the traditional real estate model represented a grave disservice to buyers, as the listing agent represented the Seller of the property, leaving many buyers unaware that they had no true representation.

The Buyers agent model addresses this, giving the Buyer of a property the opportunity to hire an agent that works exclusively for them - representing their rights in a transaction solely.

Unfortunately, there is still alot of confusion surrounding buyer agency, and it can still be a disservice to buyers. By definition a "buyer agent" is simply the person representing the buyer in that transaction. It does not guarantee that person specializes in buyers. Therefore, any licensed real estate agent can be, by default, a buyer agent in any one transaction. In the next transaction, they may represent a seller. Their brokerage likely represents both.

An exclusive buyer agent has no listings at all - and in many cases, neither does their brokerage. So they have no incentive to show and sell any one home over another - truly making their representation of you "exclusive buyer agency" with no danger of showing and selling a home represented by their brokerage, thus diluting the "buyer agency".

So although someone may be a buyer agent in a single transaction, they cannot claim to be an exclusive buyer agent - and isnt that the type of representation you should require when you buy your home?

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