Is the Seller paying the buyer's Realtor? Yes realty fees are included in the asking price and therefore are part of the cost of the house (by Multiple Listing Service rules).
So you are a member of the Multiple Listing Service (MLS)? EBA's are members of the MLS. Buyers have access to every listing on a level playing field - also have access to "By Owner", Bank owned, and Foreclosure properties
What does it mean "Exclusive?" EBA's work for and answer only to their employer/buyer. They don't list sellers: don't represent sellers: don't "sell". They use their time, access, knowledge, and experience 100% for their buyer principal.
Do Exclusive Buyer's Agents have access to all the listings? Yes. All agents for all MLS company members have equal access to all the listings.
Explain how Exclusive Buyer Agency differs from "Sales" and Non exclusive buyers agents.Traditional Realty firms
devote resources on finding and pleasing their SELLERS. They get paid a double commission to sell their own company listing. Agents at traditional realty firms represent themselves to buyers as "buyer's agents" and "dual agents".
Why is non exclusive buyer agency a problem? It's a problem because the so-called "buyer's agent" is involved in seller business at the same time they are working for buyers who wish to be represented. They are more accurately described as sellers agents with a clause that allows them to be buyers agents if they are unable to sell the company listing. And when selling the company listing they describe it as Dual Agency.
What is a Dual Agent? Statistically 1/3 of all transactions are within the same firm. The majority of legal disputes involve Dual Agency. Dual Agents get paid a double commission if they sell the company listing. Buyers agree to dual agency because either they don't understand it or they aren't offered an alternative. There are very few EBA's. Exclusive Buyers Agents only work for the buyer - have no obligation to any sellers.
How does this work...If I see a house listed by any company, or go to an open house would I contact my Buyer's Agent? Yes. There is no situation where the buyer does not call their EBA representative.
What if I hire you as my EBA and then don't buy? There is no obligation if you don't buy. And the choice whether to buy belongs entirely to the buyer. The EBA has a choice whether to accept employment. The EBA carries significant risk because they have all the liability and can never be paid a double fee.
Right now you have a choice.... hope to hear from you ....
