Keller William Atlantic Shore
Just an FYI - once you speak to a buyer, explain agency and explain that you represent them as buyers agent. guess what.. you are their exclusive buyers agent. We explain all agency relationships to the client and explain how we represent them. Buyers agent, sellers agent or disclosed dual agent.
The fact that there is a buyers agent association to go along with the other 50,000 associations that we have being Realtors.. means what? It means to me that there are a lot of realtors that only understand 1/2 of what is necessary in being a Realtor. I think it is great that you identify these "buyers agents" as It shows my clients that I am seasoned on all aspects of Real Estate transactions and I am best suited to service them.
Happy New Year!
Oh, FYI - I met Mark and let him into the houses. Remember he stated below: " I have no access. My lockbox does not work down there."
Poor guy.. "Buyers Agent" only knows 1/2 the business.. he was trying to use the actual blue Supra lockbox to get into the house.. he was pointing and pointing it.. looking so confused. I had to explain he needed the Supra "eKey" to get in.. not the lockbox.
Folks- it is very important to learn and understand all aspects in what we do... it really, really helps.
Happy New Year!
An Exclusive Buyer Agent represents only buyers and never sellers in a transaction. The company never lists a seller's property and thus never has a seller as a client.
The National Association of Exclusive Buyer Agents http://(www.naeba.org) screens all of its members to ensure that they never take listings and never represent sellers. This ensures the client that their agent will avoid the potential conflicts of interest that can arise in dual/designated agency situations. Pam Bell, as mentioned in a previous answer, is a member of this organization.
Ordinarily I'd refer but I'm afraid John will be waiting outside one of the homes in his polyester leisure suit and try to double end my clients. I still remember the time things went terribly wrong when he tried to give that Pacer to one of his customers as a closing gift. Fortunately the next door neighbor was a police officer and part time grief counselor...
Fun every day. All fun all day long! Happy New year to you also!
Busy tomorrow though, because I'll be out letting Marc into my listings since he is trying to show houses in my area and he has no access. Poor guy is showing houses by having his clients drive him around. Hopefully he can sell something so he can buy a good used car from me. I have an old AMC "Pacer" that looks as though it would fit his style perfectly.
Marc gets upset that I have uncovered his nonsense in numerous posts and all he can do is try to strike out.
He states he will do one thing and then does another when it is convenient for him and his office.
I do not accept unethical behavior and I don't use "tactics" that change with the current phone call.
My record stands clean and healthy. All of my clients refers me to their friends and family because of my service and knowledge of NJ Real Estate and find a home, not just selling a house.
I also dress much better then a used car salesmen.
As you can tell, you obviously hit a bit of a nerve there with the real estate agents out there. Let's just try to stay focused here and answer the questions that are asked in this forum......no more, no less.
Under NJ law any RE sales associate can be any of the following during a RE transaction:
So any real estate agent that limits themselves to be a buyer's agent only does so of their own volition. Does this mean they're automatically better representatives for a buyer in a RE transaction? Possibly, but not automatically.
What becomes clear from the previous answers is that there are quite a few different personalities offering their services and expertise on your behalf. The home buying process can be quite intense and at times be a strain on both professional and personal relationships. I would recommend therefore that you choose a real estate agent based on professionalism, ensuring that even while disagreeing you will still respect each other's opinions.
Good luck with the search!
Jacobus "Jack" Vollenberg
RE Appraiser/RE Sales Associate
Vollenberg Appraisers/ERA Statewide Realty
Don't take John too seriously. He doesn't understand the concept of advocating for a buyer or a seller and remaining loyal to their interests. If you look at his posts they are in line with those of old school real estate hustlers from the past.
One of these days he will realize that it's 2009 and the business doesn't run like the used car lots of yesteryear.
Any agent in NJ can be your "Exclusive Buyers Agent" In New Jersey all agents are buyerâ€™s agents once you read and the CIS and understand agency. Don't let the babble heads confuse you regarding agency.
The key is to do your research and find an agent that has a good reputation of working with buyers.
There are agents here in these forums that constantly contradict themselves regarding agency and what they actually do, versus what they say they do.
All agents in NJ can/will be your "Buyers Agent" and will be bound by the rules of agency.
Good Luck and go find a home.
Tell her I sent you.
Joan Prout, MBA
RE/MAX Villa REALTORS
306 Grove Street
Jersey City, NJ 07302
800-671-0596 x1 (direct)
Find your own agent, don't take a referral from another agent. I'm sure plenty of agents here on Trulia including me can recommend you to someone. But they get a referral fee for doing that. And that referral fee amounts to 20-25% of their side of the commission. So the agent who represents you as a buyers agent ends up taking a huge pay cut right off the bat and may not work as hard for you as they should.
Interview and select your own agent. That way they will be working for you independently and enthusiastically while getting paid fully for the significant amount of work they will be doing for you.
Good luck again!
Congratulations on recognizing that you want to avoid dual agency by looking for your own agent. Very wise. You have several options. You could look for an agent through NAEBA (National Association of Exclusive Buyer Agents). Or you could choose an agent from a smaller firm like an independently owned and operated Re/Max, Century 21, or any number of "mom and pop" firms in Union County that have been around for a long time and have experienced agents, but not a whole lot of listings. You want to avoid larger firms with thousands of listings, because the chance of dual agency goes way up.
If you Google "exclusive buyer agency", several possibilities will come up like Buyers Advisor, NAEBA, and the like.
You could also interview a few good agents in your area and ask them to pledge that they will not put you into a dual agency under any circumstances. That means if you find the perfect house and it happens to be listed with their firm, they would agree in advance to refer you to a buyers agent outside their firm. Only a very few highly ethical agents will agree to that, because they have to be willing to lose money if you choose one of their company's listings. In other words, they have to be willing to put your long term interests ahead of their short term interests.
I regularly agree with my own buyers that there will not be a dual agency if they work with me. If they want to buy any of my listings, I'll refer them out to another agency and simply take a referral fee.
This is actually a good litmus test for agent selection anyway. Any agent that rebels or gets uncomfortable when you bring this up is an excellent agent to AVOID.
If you have any questions, call me anytime. I cannot take you on myself due to a busy workload at the moment, but if you have any questions I'd be happy to answer them. This can be a complex topic to discuss completely in this format.