EXCLUSIVE BUYER AGENT IS BEST!
EBA - EXCLUSIVE BUYER AGENT - works for an office that does not take listings of any kind and represents only buyers.
SA - SINGLE AGENCY BUYER AGENT - works for an office that takes listings, represents buyers and sellers, but will represent only one client in any real estate transaction. Will not practice dual agency!
BA - BUYER AGENT - works in a traditional real estate office that takes listings. Will work with a buyer under contract. If a buyer wishes to purchase a property that is listed by their office, they will declare dual agency and represent both the seller and the buyer.
TA - TRADITIONAL AGENT - works in a real estate office that takes listings. Usually represents the seller and will be a dual agent anytime they represent the buyer.
Before selecting a real estate agent ask all the agents you interview these questions:
Will you show me all the homes on the market that meet my needs, including For Sale By Owner properties, foreclosures, and other properties, or just the homes that are in the MLS?
Will you guarantee that any information I give you will be kept confidential?
Will you guarantee me your undivided loyalty?
Will you guarantee me you will not try to change your relationship with me to "dual agency", "designated agent", transactional agent", or any other form of agency that offers reduced levels of service?
Will you guarantee me that you will not be representing any seller at any time while you are working for me?
Will there be a written Buyer Representation Agreement?
Will you point out all the negative aspects of each property as well as all the positive aspects so I will be fully informed when making my decision?
Will you tell me everything you can find out about the seller and their reasons for selling?
Will you provide information on comparable sales and help me formulate an offering price and negotiating strategy?
Do you have a list of lenders, home inspectors, insurance agents and other professionals that you recommend?
Do you, or the company you are with, ever list properties for sale? (If they say "yes", they are not an Exclusive Buyer's Agent.)
Specifically, how will you protect my interests, and why should I hire you rather than another agent?
Do you spend 100% of your time assisting Buyers?
Can you guarantee me 100% loyalty 100% of the time?
If you or your agency lists homes for sale, is your commission rate higher if you sell an "in house" listing?
Will you put all of that in writing?
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