Exclusive buyer's agent vs buyer's agent at brokerage? (RE agent, contract, agreements)
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The only advantage that I can see to using a buyer's agent is having the buyer's agent drive you around to houses and open all the doors so you don't have to make individual appointments with listing agents.
Beyond that the buyer's agent doesn't make a nickel off you until somebody sells you a house. The agent's priority is the commission first, you second.
If you prefer the convenience of being chauffeured around from house to house, fine, go for it. Just make sure you do your own due diligence and verify everything you are told by anybody.
Lots of herp-derp in this post.
Too much to even dissect honestly. Fortunately OP is clearly intelligent and knows what she wants/feels is best for her.
Not sure about other states...but in NC a buyer (or seller) can absolutely elect to not allow their respective agent to operate in dual-agency.
When this election is made; and an agent has buyer-clients who are interested in a property for which they are the listing agent; they will often refer the buyers to another agent in the firm to exclusively represent them in the transaction.
No.
There is no advantage to working with an EBA.
It is merely a marketing shtick. No agent needs a shtick to be effective.
Qualify your agent to your satisfaction in terms of experience, skill, character, responsiveness, local knowledge, and, really, are they someone you are comfortable with personally.
And, don't allow dual agency or designated dual agency, and you should be in good shape.
When you engage an agent using a Buyers Agency Agreement, only do so if the agreement includes the right to terminate the agreement unilaterally up to the point you locate the house you want.
That's what I was going to say, just not as eloquently. It's a stupid gimmick to prey on gullible people IMO. If they know it's a gimmick to trick buyers, they are probably a bit shady to start with and you shouldn't hire them. Maybe a few EBA's believe in what they do, but if they do believe I think they are either unintelligent to the point that can't process information and form rational opinions, or so misguided about real estate that you shouldn't hire them.
Hope it helps. Good luck.
Yes but they are not acting as a "dual agent". They'd still check "designated"....even if it was referred out with guidance from BIC or not (technically it should be BIC chosen; I don't think it typically is).
I've had to mark "designated agency" when placing an offer on a listing for a FM listing from another office.
Yes but they are not acting as a "dual agent". They'd still check "designated"....even if it was referred out with guidance from BIC or not (technically it should be BIC chosen; I don't think it typically is).
I've had to mark "designated agency" when placing an offer on a listing for a FM listing from another office.
designated agency is a form of dual agency, so indeed they are still acting as a dual agent. It is a designated dual agent, or dual designated agent...on that I admit I'm not 100% on the "legal term".
When you write an offer on an FM listing, you should be sure to contact the LA and ask "Has the seller selected designated agency?" Only when BOTH parties have been informed and accepted is it actually designated dual agency.
designated agency is a form of dual agency, so indeed they are still acting as a dual agent. It is a designated dual agent, or dual designated agent...on that I admit I'm not 100% on the "legal term".
When you write an offer on an FM listing, you should be sure to contact the LA and ask "Has the seller selected designated agency?" Only when BOTH parties have been informed and accepted is it actually designated dual agency.
There is so much confusion over dual agency, it is a wise consumer who declines both and wants only full advocacy.
designated agency is a form of dual agency, so indeed they are still acting as a dual agent. It is a designated dual agent, or dual designated agent...on that I admit I'm not 100% on the "legal term".
When you write an offer on an FM listing, you should be sure to contact the LA and ask "Has the seller selected designated agency?" Only when BOTH parties have been informed and accepted is it actually designated dual agency.
There is so much confusion over dual agency and designated dual agency, it is a wise consumer who declines both and wants only full advocacy.
There is so much confusion over dual agency, it is a wise consumer who declines both and wants only full advocacy.
I think we are pretty similar in SC. We have 2 forms of dual agency by definition here: disclosed dual agency and designated agency. Disclosed dual agency means the same agent or team represents both buyer and seller and functions as a mediator since they can't take sides. Designated agency means 2 separate agents under the same broker are involved, 1 repping the buyer and the other repping the seller. In designated agency they both work exclusively for their client. I have no issues with designated agency. I don't love disclosed dual agency.
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