|The Wall Street Journal
Exclusive agencies are highly recommended.
They remove any conflict of interest, which is
the main reason for considering a buyer broker in
the first place.
To Buyers: If you want representation, work with a buyer broker. They
are legally obligated to represent your interests in any negotiations
with sellers, states The Consumer Federation of America. Groups
such as the Consumer Federation of America and AARP recommend using
Exclusive buyer's brokers work only with buyers and don't take
listings. They're obliged to help you find the best deals and lowest
price. Unfortunately, agency standards have changed so much in
the past ten years that real estate agents themselves are likely to be
confused about their obligations to buyers and
A new breed of broker, known as an exclusive buyer's agent, acts as
your advocate. Like a traditional broker, an exclusive buyer’s agent
steers you toward attractive homes and helps you scout out banks or
mortgage companies, where you can borrow what you need to make the
|The New York Times
Confusion often arises because many buyers believe that the agent who
shows them houses works on their behalf. In fact, subagents of the
listing broker - often they are agents who work
for another office - also act on behalf of the seller.
Most agents who show you homes don't represent your interests. They
work for the seller, and their object is to sell the house for the
highest possible price.
A conflict of interest is more likely when a real estate firm that
represents sellers assigns you one of its brokers as a buyer agent.
That's why many people believe an "exclusive" buyer broker is
preferable. If there aren't any in your area, and you have to use a
listing broker, "make sure they disclose when they are showing you
properties they have a financial interest in," says Stephen Brobeck,
executive director of the Consumers Federation of America.
The New York Times
About Real Estate: More Agents Represent Home Buyers
by Diana Shaman
Buyer brokers say they can negotiate the best price for their
clients. "We act in a sense like an attorney or an accountant to
protect the buyer, so that they can make an informed decision
and buy the best home for them," Mr. Hathaway, a Memphis
broker--aims to get the best deal for the home buyer."
- Business Week
"You can't have partial loyalty, an agent either works for you or works
for someone else."
- Consumer Reports
"Groups such as the Consumer Federation and the American Association of
Retired Persons recommend using buyer's agents...the reason is they
- Smart Money
"You save big bucks by hiring a buyer broker."
- Money Magazine
"Buyer Brokers make a great deal of sense."
- The New York Times