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- SoCal_Engr
- Contributions:5666
Any person I am paying works for me. In my experience, titles mean little compared to the ethics/professionalism of the person.
p.s. This is your second post ono Zillow, and both have been pushing EBAs. Yet, you don't have an "Agent" tag. Are you really just a Joe-Consumer who has decided to push EBAs?
p.s. This is your second post ono Zillow, and both have been pushing EBAs. Yet, you don't have an "Agent" tag. Are you really just a Joe-Consumer who has decided to push EBAs?
- David Barr, "dpbarr2000"
- Contributions:280
If an agent only works with buyers, they do not have familiarity with seller motivation first hand. Agents who work only with sellers are often less likely to understand buyer motivation or the bigger picture in the local real estate market.
Overall well rounded experience is key to finding the best agent.
Overall well rounded experience is key to finding the best agent.
- Michael Crowley, "Buyers Broker"
- Contributions:8
Lots of great agents out there, and in some markets an EBA is not available so you are forced to take your chance with an agent that may or may not be representing your needs when it comes time to write an offer. An EBA guarantees that every time along with the extra experience that an EBA will most often bring to the table. Yes, some Realtors are not thrilled when an educated consumer seeks out an EBA, just as the attorney in a law case would prefer you to not seek legal counsel. The less you are represented, the better they can represent their seller, and in many instances their office will make twice as much by keeping you from being professionally represented. If the consumers saw some of the threads on Realtor blogs and forums about what they are able to accomplish when a buyer is not properly represented, they would go crazy and revolt.
- Gary May, "RealtorTampaBay"
- Contributions:56
The most important factor is to work with a Realtor that you feel most comfortable working with and that you honestly feel has your best interest at heart. Best wishes!!
- Richard Rosa, "RichRosa"
- Contributions:16
I suggest you go to the National Association of Exclusive Buyer Agents Web site to learn more about using an agent (and everyone in that agent's office too) that is only working for you. Finding an agent that is 100% loyal, 100% of the time will be the best home-buying decision you make. Good luck!
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
Opinions vary of course. I put much more faith in a "good" agent than one that specalizes. You can read reviews of agents here on Zillow.com To give you an idea of what kind of agent they are. For my family and friends out of state, I strongly urge them to get a referral. Talk to your co-workers, friends, family and see if any of them have an agent that did a "good" job. There are a lot out there that are simply not "good", get a referral and I would not worry about any creditations. If they have their license, good records (both can be looked up for free online at your states DRE, Department of Real Estate online) and have more than a couple years experience. Best of luck.
Spirit
Spirit
- Michael Emery, "MikeEmery"
- Contributions:7298
Phil is attempting to drive business to his website
[website removed]
I've flagged it a couple of times with no response from Zillow.
Pretty clever, eh?
[website removed]
I've flagged it a couple of times with no response from Zillow.
Pretty clever, eh?
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
Nice catch Michael & So Cal Engr. I missed the link that Zillow deleted, see what you mean. Man, spending free time answering questions for free is hard enough, but for spammers? Argh! Thanks guys. Good luck out there. Spirit
- phil_2_u
- Contributions:6
Mr. Crowley's observations are more to point. EBA's make their business model work on half the commission potential of most dual agents. Most choosing to specialize and become an EBA have worked as a Dual Agent and have arrived at the same conclusions as Mr. Crowley. A new agent doesn't simply start off as an EBA. It's an evolving process.
Seller motivation is the easy part.
My point is .... Buyers OR Sellers are better served by an agent that specializes and can provide fiduciary representation without any conflicting interest. Individual state Exclusive buyer agents (EBA) and the National Association of Exclusive Buyer Agents are simply consumer advocates. Where do you stand ?
Seller motivation is the easy part.
My point is .... Buyers OR Sellers are better served by an agent that specializes and can provide fiduciary representation without any conflicting interest. Individual state Exclusive buyer agents (EBA) and the National Association of Exclusive Buyer Agents are simply consumer advocates. Where do you stand ?
- Toby Stevens, "Toby Stevens"
- Contributions:1
Just like you would hire an attorney to advocate for your best interests, this is what a "Buyers Agent" would do for you, work in your best interests.
- Caveat Emptor
- Contributions:500
@phil
50 bucks says that you don't know what a fiduciary responsibility is and that even if you copy and paste the definition from somewhere, you wouldn't have the reading comprehension necessary to actually apply it to a real estate transaction.
50 bucks says that you don't know what a fiduciary responsibility is and that even if you copy and paste the definition from somewhere, you wouldn't have the reading comprehension necessary to actually apply it to a real estate transaction.
- sunnyview
- Contributions:25139
Consumers are best served by good honest agents, but the letters EBA do not guarantee no conflict of interest. Better to focus on the quality of the agent instead of simply the letters behind their name.
I have met/worked with too many excellent agents that are not EBA's to believe that an exclusive buyers agent is the only way to be well represented. There is also value in regularly working both sides of sales transactions so you know what the market wants as a buyer and sellers agent.
I have met/worked with too many excellent agents that are not EBA's to believe that an exclusive buyers agent is the only way to be well represented. There is also value in regularly working both sides of sales transactions so you know what the market wants as a buyer and sellers agent.
- SoCal_Engr
- Contributions:5666
"Mr. Crowley's observations are more to point. EBA's make their business model work on half the commission potential of most dual agents. Most choosing to specialize and become an EBA have worked as a Dual Agent and have arrived at the same conclusions as Mr. Crowley."
On both of your threads, you imply that any REA who is not an EBA is automatically in a dual-agency situation. Since I am not in the industry, I can't speak to the validity of this premise, but it seems a bit shaky.
The consumer is best served by the REA that they select to meet their needs. That places the responsibility on the consumer to be knowledeable enough to make that selection. Beyond that, I have to agree with Sunnyview. I've had a variety of experiences with REAs that tells me it's about the person, not the letters they put on their business card.
On both of your threads, you imply that any REA who is not an EBA is automatically in a dual-agency situation. Since I am not in the industry, I can't speak to the validity of this premise, but it seems a bit shaky.
The consumer is best served by the REA that they select to meet their needs. That places the responsibility on the consumer to be knowledeable enough to make that selection. Beyond that, I have to agree with Sunnyview. I've had a variety of experiences with REAs that tells me it's about the person, not the letters they put on their business card.
- Michael Emery, "MikeEmery"
- Contributions:7298
The implication that listing agents are also going to represent the buyer of the home that they have listed is both fallacious and insulting to buyers.
In my most previous listing I had an agreement with the seller that I would not represent any buyer who wanted to buy their home (as would be true of any listing). And when I have done open houses one of the most asked questions by buyers is 'are you the listing agent?'.
Most buyers are keenly aware of the potential for conflict of interest when an agent represents both buyer and seller and most agents are wise to avoid such a role.
In my most previous listing I had an agreement with the seller that I would not represent any buyer who wanted to buy their home (as would be true of any listing). And when I have done open houses one of the most asked questions by buyers is 'are you the listing agent?'.
Most buyers are keenly aware of the potential for conflict of interest when an agent represents both buyer and seller and most agents are wise to avoid such a role.
- ConnieK_Oklahoma
- Contributions:2899
So an Exclusive Buyer's agreement does not translate into a single party brokerage agreement and that should be clarified. (terms may vary per state). but any buyer who reads this thread should know there are some key differences.
there is one agreement that is between an agent and a buyer that simply says buyer will use that agent for whatever they buy. Many agents never use this agreement and work on faith that if they provide good service the buyer will stick with them. many agents have such an agreement with their clients and sometimes there is even an up front fee, or a fee from the buyer if they drop the agent and use someone else. the exclusivity is that the buyer will exclusively use that agent.
there is a different type of agreement that is called a single party brokerage agreement (in oklahoma- it might have a differenent name in other states and all details will vary by state). this agreement basically commits the agent to work FOR the buyer for their interest and the consumer is vicariously liable for the agents actions. but interestingly enough this agreement does not always require exclusivity.
the point is....if you are a buyer and you are signing an agreement with your agent, you need to understand that agreement and understand the consequences and understand what other options exist.
don't just go based ont he name of an agreement and assume it has more meaning than it has. - again..laws vary by state too. and many agents don't make the buyer sign agreements, many just take on the risk, do the work and buyer's sign purchase contracts.
there is one agreement that is between an agent and a buyer that simply says buyer will use that agent for whatever they buy. Many agents never use this agreement and work on faith that if they provide good service the buyer will stick with them. many agents have such an agreement with their clients and sometimes there is even an up front fee, or a fee from the buyer if they drop the agent and use someone else. the exclusivity is that the buyer will exclusively use that agent.
there is a different type of agreement that is called a single party brokerage agreement (in oklahoma- it might have a differenent name in other states and all details will vary by state). this agreement basically commits the agent to work FOR the buyer for their interest and the consumer is vicariously liable for the agents actions. but interestingly enough this agreement does not always require exclusivity.
the point is....if you are a buyer and you are signing an agreement with your agent, you need to understand that agreement and understand the consequences and understand what other options exist.
don't just go based ont he name of an agreement and assume it has more meaning than it has. - again..laws vary by state too. and many agents don't make the buyer sign agreements, many just take on the risk, do the work and buyer's sign purchase contracts.
- John McFarland, "JohnBuyerSideRealty"
- Contributions:23
When you work with an Exclusive Buyer Broker, you will not run the risk of being without representation should you be interested in pursuing a home that's listed by the office who employs the agent that you're working with.
State of Arizona Department of Real Estate: "Be aware that the seller's broker does not represent you; the seller's broker represents the seller. The seller's broker has certain responsibilities to the seller that are not afforded to you. You might wish to retain the services of a buyer's broker to represent you in the transaction. Usually, the buyer's broker receives a portion of the commission paid by the seller, and the services may cost you nothing, but you will receive representation equal to that provided to the seller by the seller's broker."
State of Arizona Department of Real Estate: "Be aware that the seller's broker does not represent you; the seller's broker represents the seller. The seller's broker has certain responsibilities to the seller that are not afforded to you. You might wish to retain the services of a buyer's broker to represent you in the transaction. Usually, the buyer's broker receives a portion of the commission paid by the seller, and the services may cost you nothing, but you will receive representation equal to that provided to the seller by the seller's broker."
- Michael Emery, "MikeEmery"
- Contributions:7298
When you work with an Exclusive Buyer Broker, you will not run the risk of being without representation should you be interested in pursuing a home that's listed by the office who employs the agent that you're working with.
My company has 1800 agents. We control 50 plus percent of the market. It would be impossible to not show a home that wasn't listed by my company.
Besides, we're not 'employed' by the broker, we're independent contractors.
My company has 1800 agents. We control 50 plus percent of the market. It would be impossible to not show a home that wasn't listed by my company.
Besides, we're not 'employed' by the broker, we're independent contractors.
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
according to Wikipedia:
EBA firms amount to less than 1/2 of 1 percent of all real estate firms in the US.
seriously, with such a small number of EBA's in the country - this is a debate?
The very few (like 2 maybe) EBA offces I see in NJ claim to "cover" a huge number of towns that they can in NO way have expertise in - not in ALL of them............yet claim a consumer is better served by using their services...........how is a consumer served by using someone who may never have even BEEN in the town he or she claims to cover?
Just paying to belong to an MLS doesn't give one instant knowledge of the towns covered by that MLS.
Hey, to each his own.....but.....if I were a consumer, I'd want to work with an agent who had frst hand knowledge and experience listing and selling in the town/towns I wanted.
Put the same house on different streets/ different locations within my town, and you will see a variety of values.........no one who didn't regularly sell in this town would know that - those nuances can make a huge difference in pricing.
EBA firms amount to less than 1/2 of 1 percent of all real estate firms in the US.
seriously, with such a small number of EBA's in the country - this is a debate?
The very few (like 2 maybe) EBA offces I see in NJ claim to "cover" a huge number of towns that they can in NO way have expertise in - not in ALL of them............yet claim a consumer is better served by using their services...........how is a consumer served by using someone who may never have even BEEN in the town he or she claims to cover?
Just paying to belong to an MLS doesn't give one instant knowledge of the towns covered by that MLS.
Hey, to each his own.....but.....if I were a consumer, I'd want to work with an agent who had frst hand knowledge and experience listing and selling in the town/towns I wanted.
Put the same house on different streets/ different locations within my town, and you will see a variety of values.........no one who didn't regularly sell in this town would know that - those nuances can make a huge difference in pricing.
- Michelle Wood, "Michelle.Wood"
- Contributions:3
In my experience, it is best to hire an agent who is experience with both the Buyer's and the Seller's in order to have a full understanding of what is wanted and needed in each transaction.I am predominantly a Buyers agent, but also enjoy selling homes in Hawaii.
It is also very inportant to work with an agent that you like, trust, and respect.
Aloha,
Michelle
It is also very inportant to work with an agent that you like, trust, and respect.
Aloha,
Michelle
- phil_2_u
- Contributions:6
Real Estate in the U.S. is a Seller / Sales driven industry. The process starts with a Listing Agent attempting to get top dollar for his client which equates to top commission. All the incentives work for the Seller / Listing Agent. Anyone dispute this?
Why would anyone want to be an EBA ?
Value on the other hand is simply what someone is willing to pay based on what it is worth to them... not what the Seller thinks it's worth. Dual Agency is akin to hiring an attorney to prosecute and defend you while paying top dollar for the service.
Why would anyone want to be an EBA ?
Value on the other hand is simply what someone is willing to pay based on what it is worth to them... not what the Seller thinks it's worth. Dual Agency is akin to hiring an attorney to prosecute and defend you while paying top dollar for the service.
- Cindy Quinton, "Cindy Quinton"
- Contributions:1323
Phil, what is YOUR commision structure?
- Caveat Emptor
- Contributions:500
Dual Agency is akin to hiring an attorney to prosecute and defend you while paying top dollar for the service.
whereas hiring your own agent is like hiring him an assistant that can follow you around and dig into your bank records, and play good cop in the interrogation room.
whereas hiring your own agent is like hiring him an assistant that can follow you around and dig into your bank records, and play good cop in the interrogation room.
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
This isn't a discussion about the pros and cons of dual agency.
That's a whole different discussion.
This is about the VERY small - less than 1/2 of 1 % - of agents nationwide who choose to work in the few offices that exist only as buyer's agents - ie EBA's.
That means their offices do not take any listings.
That also means, based on what I see, that many of them bite off way more than they can chew...they cover areas far beyond their location..or areas of expertise................they have to do that in order to survive.
I wouldn't work with a buyer too far out out of my area...........that would be doing them a disservice........how can I advise them if I am not totally familiar with the town, or location and recent sales?
Belonging to the MLS, and looking up listings does not make one an expert in an area.
No large company, no organization can survive and fully service the community without listing and selling homes.
This has nothing to do with dual agency as far as this thread is concerned......as a listing agent, I can always suggest to a buyer that they have the right to find their own agent if they are interested in my listing, and want a designated buyer's agent.
As a buyer, who would you rather have represent you?
An agent who works day in and out in a particular town and knows the market and can discuss the recent sales because they SAW them.... and who knows the area first hand...........or..............someone who comes from 45 min away and may have never stepped foot in your area before?
What kind of case can they make for your offer if they don't have the knowledge and experience that comes from selling and/or listing in your specific area ?
That's a whole different discussion.
This is about the VERY small - less than 1/2 of 1 % - of agents nationwide who choose to work in the few offices that exist only as buyer's agents - ie EBA's.
That means their offices do not take any listings.
That also means, based on what I see, that many of them bite off way more than they can chew...they cover areas far beyond their location..or areas of expertise................they have to do that in order to survive.
I wouldn't work with a buyer too far out out of my area...........that would be doing them a disservice........how can I advise them if I am not totally familiar with the town, or location and recent sales?
Belonging to the MLS, and looking up listings does not make one an expert in an area.
No large company, no organization can survive and fully service the community without listing and selling homes.
This has nothing to do with dual agency as far as this thread is concerned......as a listing agent, I can always suggest to a buyer that they have the right to find their own agent if they are interested in my listing, and want a designated buyer's agent.
As a buyer, who would you rather have represent you?
An agent who works day in and out in a particular town and knows the market and can discuss the recent sales because they SAW them.... and who knows the area first hand...........or..............someone who comes from 45 min away and may have never stepped foot in your area before?
What kind of case can they make for your offer if they don't have the knowledge and experience that comes from selling and/or listing in your specific area ?
- Michael Crowley, "Buyers Broker"
- Contributions:8
Just as we got off topic with regards to dual agency, Debra takes us off topic in deciding that all EBAs travel the world to represent buyers whenever and wherever. Which is not true either. My personal market is very small. I know EBAs that work areas with populations less than 25,000 people.
The topic here was should someone use an EBA, and the answer could be it depends if that makes those that do not qualify to be one prefer to hear. But, if you are buying a home, and you understand what dual agency is, and also prefer to work with an expert in the field of homebuying, starting with an EBA in your area would be a good start. Will an EBA always be better? Absolutely not, maybe they are too far from where you want to buy, maybe you just do not like them? Maybe you met another traditional Realtor and just trusted them more? But if you moved to a new town, with your BMW that you treasured, and wanted the best mechanic to work on it, you might start with the guy who opened up the shop that just works with BMWs before you take it to the Ford dealership b/c the Ford guy was convinced that his experience with other automobiles will benefit his expertise on your BMW. Possible that the Ford guy might be better, but you would be foolish to not talk to the BMW guy before you made the decsion.
The topic here was should someone use an EBA, and the answer could be it depends if that makes those that do not qualify to be one prefer to hear. But, if you are buying a home, and you understand what dual agency is, and also prefer to work with an expert in the field of homebuying, starting with an EBA in your area would be a good start. Will an EBA always be better? Absolutely not, maybe they are too far from where you want to buy, maybe you just do not like them? Maybe you met another traditional Realtor and just trusted them more? But if you moved to a new town, with your BMW that you treasured, and wanted the best mechanic to work on it, you might start with the guy who opened up the shop that just works with BMWs before you take it to the Ford dealership b/c the Ford guy was convinced that his experience with other automobiles will benefit his expertise on your BMW. Possible that the Ford guy might be better, but you would be foolish to not talk to the BMW guy before you made the decsion.
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
Michael - "Debra's point" was not only on topic, but exactly the same as yours!
If you have a BMW, use someone who speciailizes in them.
If there were an EBA on every corner, like there are "traditional" real estate offices, then I'd agree - find the one with the best fit for your needs.
BUT, in reality, that is not the case - at least not in NJ.
The 2 sites I visited run by NJ EBA's each claim a coverage area far beyond what anyone can possibly specialize in.
Kudos to you, if you live and work in a specific area and limit your business to the area you know best............but with only 1/2 of 1% of all agents nationwide listed as EBA's, chances are, the corner, neighborhood company wil not be one of them
If you have a BMW, use someone who speciailizes in them.
If there were an EBA on every corner, like there are "traditional" real estate offices, then I'd agree - find the one with the best fit for your needs.
BUT, in reality, that is not the case - at least not in NJ.
The 2 sites I visited run by NJ EBA's each claim a coverage area far beyond what anyone can possibly specialize in.
Kudos to you, if you live and work in a specific area and limit your business to the area you know best............but with only 1/2 of 1% of all agents nationwide listed as EBA's, chances are, the corner, neighborhood company wil not be one of them
- blub blub blub
- Contributions:145
Dual Agnecy, Dual Agent, Exclusive Buyers Agency, Exclusive Buyers Agent.
4 different things here that have different meanings in different states.
4 different things here that have different meanings in different states.
- Louann & Ed Hook, "Louann Smith Hook"
- Contributions:8
Absolutely! We are Exclusive Buyers agents for all our buyer clients and it is the best way for you to get representation on your most Important and Biggest Purchase of your life. There are more than 25 different tasks items that we perform for our buyer clients everyday. That is from locating the perfect home to actual closing and taking of the keys! Contact us for more info today!
- Reema Sharma, "ReemaSharma"
- Contributions:927
Definitely, save time for scheduling appointments for you and should look for the interest for you
- Spirit Messingham, "TucsonSpirit"
- Contributions:663
SoCal_Engr, I understand what you mean by your statement "any person I am paying works for me..." Just so you know, every state is different. For example here in Arizona the buyer does not pay for the buyer's agent (as long as the property is listed on MLS), since over 90% of all properties sold in Tucson are listed on MLS, I have never had a buyer pay for me. I believe California is different, have had many buyers here in AZ tell me in CA, they (the buyers) have to pay for the buyers agent.
Wanted to clarify that, but I agree with you. Working with an honest & professional agent or Realtor should be the goal as a buyer. I am mostly a buyers agent. There are so many unprofessional agents, I would focus on finding a "good" one, regardless of their specialization's & designation's. Have found asking co-workers, friends, family members for a refferal(s) is a great way to find a buyers agent. Many will tell the potential client one thing, but the proof is how they handled past business.
Best of luck.
Spirit
Wanted to clarify that, but I agree with you. Working with an honest & professional agent or Realtor should be the goal as a buyer. I am mostly a buyers agent. There are so many unprofessional agents, I would focus on finding a "good" one, regardless of their specialization's & designation's. Have found asking co-workers, friends, family members for a refferal(s) is a great way to find a buyers agent. Many will tell the potential client one thing, but the proof is how they handled past business.
Best of luck.
Spirit
- sunnyview
- Contributions:25139
I completely agree with Spirit. The quality of the agent should be the most important thing not the designations. It is worth taking time to choose a good one.
Should I use an Exclusive Buyer Agent ?
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