Definition of Exclusive Buyer's Agent

There is a scam going on now in some markets where regular real estate agents (designated agents in most of Livingston County) are telling buyers they are:

1. Buyer's Agents

or worse yet:

2. Exclusive Buyer's Agents

Here is the definition for Exclusive Buyer's Agency used by both the National Association of Realtors and by the National Association of Exclusive Buyer's Agents:

"Exclusive buyer agency -- The practice of representing 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. Agents never accept subagency that is offered by a seller's agent."

Unfortunately a lot of local Brighton real estate agents don't really know much about buyer agency much less exclusive buyer agency, but it can make a big difference to you as a home buyer.

One example: Because an EBA only represents buyers and does not have in-house or company listings, a seller is always unaware of the price buyers are willing to spend during the negotiation process, bringing the advantage back to the buyer and the buyer's wallet. For this reason alone, it is very common to save thousands of dollars during the critical negotiation process.