Estate Agency Explained
Buyers should work with an "Exclusive Buyer Broker"
Any other relationship and you'd
be cheating yourself. Get the
personalized service and the latest
market information you need.
Call today to discuss your search.
Buyer's Agent? Seller's Agent? Until recently, the line separating a buyer's agent from a seller's agent was fine, indeed. In fact, the traditional buyer's agent (sub-agent) has a greater legal obligation to an individual selling a property than the one trying to buy it. But a new breed of agent has appeared on the market over the past several years, one committed exclusively to the best interests of the buyer.
So how do you find a great agent? Don't grill an agent with pat questions. Having a real conversation is a much better way to find out if your personalities match. If an agent exerts more pressure than you're comfortable with, move on. An agent should pay attention to what you say about your needs and wants. An agent should be responsive to calls or emails. And a good agent should take time to answer your questions.
Confused? So are most full-time professional brokers and agents! Even today, most brokers and agents are traditional agents "representing" Sellers and Buyers. And there are times when they try to "represent" both sides in a transaction! So if a real estate broker tries to minimize or downplay representation issues, be very careful. It is at this point that dual or split agents may begin to protect their commission checks rather than your interests. An Exclusive Buyer Broker does not take listings and never represents sellers. They will not "steer" you into looking at their company inventory of homes for sale, because they do not have any listings!
The entire foundation of exclusive buyer representation is not having any real or potential conflicts of
interest with a buyer/client. When representing a buyer/client who has a home to sell a true Exclusive
Buyer Broker chooses not to "list" the property for sale. In other words, they turn down thousands of
dollars in full commissions each month because their clients' best interests are at stake. An Exclusive
Buyer Broker will never change their fiduciary relationship with a buyer/client during their home buying,
whereas 99% of so called "buyer agents" and their brokerages gladly represent sellers and may "switch"
their relationship with you.
Remember that while buyers and sellers need not be adversarial in actions and attitude, their personal interests are adverse. Buyers want the lowest price and best terms, and sellers want the highest price and best terms. We do not make wild claims that we will save a client $100,000 on their next home purchase. We do negotiate for our clients without any chance of real or perceived conflicts of interest. You would not expect less from your doctor, accountant, or attorney, so why settle for less on the biggest financial transaction of your life?
Call to discuss your search for Maine real estate.
Put our years of experience to work for you.
Coastal Maine's Oceanfront Specialists
Exclusively Representing Real Estate