Only a "Exclusive Buyer Agent" (like BUYER'S ADVISORS)  can Guarantee to:

  • Represent only the Home Buyer.
  • Negotiate only on the Home Buyer's behalf.
  • Provide the true facts (good and bad) about:
    • value,
    • market,
    • neighborhood conditions, and,
    • physical defects.

An "Exclusive Buyer Agent"  can do a better job than an ordinary real estate agent because:

  • "Exclusive Buyer Agents" have a legal and ethical obligation to put their Home Buyer's interests first.
  • "Listing and Seller's Agents" (agents for a Seller) cannot tell a Home Buyer things that would be detrimental for the Buyer to know (because they work for the Seller).
  • "Exclusive Buyer Agents" work to get their Buyer the:
    • "lowest price on the best terms for the Home Buyer".
  • "Seller's Agents" try to get their Seller the:
    • "highest price on the best terms for the Seller".

An "Exclusive Buyer Agent" owes a Home Buyer duties of:

  • Confidentiality - "Exclusive Buyer Agents" are prohibited from disclosing confidential information obtained from their Buyer to the Seller or his/her agent.  Unlike a "Seller's Agent", "Exclusive Buyer Agents" can't and won't disclose to the Seller:
    • the real price their Buyer is willing to pay,
    • the amount of mortgage their Buyer is actually qualified for,
    • how much cash their Buyer has to work with,
    • or, the level of their Buyer's motivation to buy the Seller's property.
  • Reasonable Skill and Care - "Exclusive Buyer Agents" are required to:
    • protect their Buyer from foreseeable risks,
    • recommend their Buyer obtains expert advice when their needs are outside the "Buyer Agent's" scope of expertise.
  • Undivided Loyalty - "Exclusive Buyer Agents" are prohibited from advancing any interests that are adverse to their Buyer.
  • Obedience to Lawful Instructions - "Exclusive Buyer Agents" are required to:
    • act subject to their Buyer's continuous control,
    • and, obtain and follow all lawful instructions from their Buyer.
  • Full Disclosure - "Exclusive Buyer Agents" are required to disclose to their Buyer all information concerning a home purchase which might affect their Buyer's best interest (unlike a "Seller's Agent"), "Exclusive Buyer Agents" must and do disclose:

    • what they know about the Seller’s motivation for selling,
    • the price the Seller paid for the house,
    • observable deferred maintenance or defects in the house,
    • price comparables for similar houses,
    • the listing history of the house,
    • potential problems in the neighborhood, etc.

"Exclusive Buyer Agents" are trained to help their Home Buyers with:

  • finding and negotiating for the right property,
  • evaluating financing alternatives,
  • choosing a qualified house inspector,
  • choosing other professionals, as needed.

"Exclusive Buyer Agents" are NOT trained to sell their Home Buyers a particular property or in a particular town or area.

 

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