A Traditional Agent, an Unnecessary Risk?
Why Use an Exclusive Buyer’s Broker?
There are two types of Realtors—one that represents both buyers and sellers, and the other type, who dedicates himself to only providing his expertise to a single party in every transaction. If a real estate company takes listings, and then shows those homes to buyers, both the buyer and seller would need to agree to “limited dual representation.” The Realtor would then represent both parties, and must protect the interests of both sides. In this type of transaction, the Realtor may not give any advice to either party. What are the reasons you hire a Realtor? For knowledge? Expertise? Advice? Negotiation skills? Problem solving? In a dual representation transaction, you forfeit all of these benefits. The Realtor becomes strictly a facilitator in the transaction, and, from then on, simply executes paperwork.
If an experienced agent isn’t working exclusively for you, who will you ask for advice when negotiating the price, terms, or repairs of the home? Would you ask the Realtor representing the seller for advice? What if the seller is a friend or colleague of the listing agent, or is the best friend of the agent’s relative? If you don’t know the ins-and-outs of real estate transactions, will the seller’s agent really help you? Will the listing agent fulfill his promise to the seller that he will get him the most money possible for the home? When the listing agent has had an ongoing relationship with seller, can you truly feel comfortable that he has your best interest in mind?
You would never hire an attorney that is already working for the opposing party because there is an inherent conflict of interest. There is no difference when buying a home, which may be the biggest financial decision you have ever made. Instead of trusting a traditional agent, who may need to split his loyalties, there are exclusive buyer’s representatives that never represent two opposing parties in a single transaction. When an Exclusive Buyer’s Broker is working for you, there is no need to worry about where that agent’s loyalties lie. A Buyer’s Broker avoids conflicts of interest that are inherent in a dual-representation real estate transaction because he does not represent the seller or any other third party. He works solely for the you. The relationship between a buyer and his Realtor® needs to be built on trust and assurance that the Realtor’s® fiduciary responsibilities are being fulfilled without compromise. If you use an agent whose company takes listings, then the buyer might end up having to settle for dual representation. Sometimes, buyers think they will get the best deal from the listing agent, but where do those agents’ loyalties really lie?
An Exclusive Buyer’s Broker can give advice to the buyer freely, and must keep all sensitive information about his client confidential, unless a disclosure is authorized by the client or is required by law. Even if there may be no preferential treatment given to the seller, why take a chance on what may be the largest investment in your life? Make sure that your get the expertise, advice, and loyalty that you deserve. At Tucson Golf Estates, we are dedicated to only representing the buyer in every transaction. You can rely on the almost 20 years of experience that I have gained working in Tucson, and that you, and no one else, are my top priority in every transaction. If you are looking to buy a golf home in Tucson, Arizona, please give me a call.