Smart Home Buyer interviews Exclusive Buyer Agent
I opened up an Exclusive Buyer Agency office during an era where every agent represented only the seller. Being an “Exclusive Buyer Agent” was unheard of by consumers and hated by regular real estate agents.
After all, up until now, both agents represented the sellers so they could get by with anything. Now there was someone like me, an Exclusive Buyer Agent, who was watching out for the buyers best interest, and not the seller. Everyone now had to be accountable.
Times were changing and no one likes change.
I was in business almost 3 months, with no business…
Not even a phone inquiry. Then walks in a Smart Lady Investor, and asks me for my resume. Great, I didn’t have one. It would have had nothing on it anyway. I knew only enough about real estate to pass the Broker Test, and I could tell she knew more than I did. She started peppering me with interview questions because she was shopping for a new agent.
“She” was a seasoned investor who felt unrepresented…
“She” had read about what an Exclusive Buyer Agent does and she liked the fiduciary duty of total trust that went along with working with an Exclusive Buyer Agent. She asked me if I would “hustle” for her.
Sure I could do that.
I was hungry for business and desperate for a commission check.
I ended up selling her a condo for $10,000 (yes only ten thousand dollars) that had a bullet hole in the window. My commission check was $500, but I did not complain.
It was business and a chance to start learning about real estate. I also liked being her Exclusive Buyer Agent. I liked being able to represent a buyer with total honesty. It felt good. No games, no double talk. No hiding the truth.
In 1994, things changed and my business grew.
Florida now required mandatory disclosures forcing all agents to now disclose to the buyer that they were really working for the seller. All of a sudden all agents started stamping their business card with “Buyer Agent” hoping to capture the buyer business. Funny how almost overnight, real estate agents no longer hated buyer representation. Here is what the media says about an Exclusive Buyer Agent.
Florida also outlawed “Dual Agency” so no one could be a “double agent” anymore. Home buyers started realizing that there is a choice for home buyer representation and started asking questions. The National Association of Exclusive Buyer Agent was formed.
Being an Exclusive Buyer Agent was growing and smart buyers were interviewing agents. This is what I learned:
Smart Home buyers search for an Exclusive Buyer Agent
- Smart Home buyer who understand “agency” will search for an Exclusive Buyer Agent and not just a Buyer Agent in a traditional real estate office, that wears many hats. Exclusive Buyer Agent works in an office that never represents sellers…so there is no conflict of interest.
- Home buyers that call on a real estate sign don’t understand that the person answering the phone is working for the seller…to get the highest price. When home buyers understand the impact that this has on their wallet will always seek an Exclusive Buyer Agent.
- Home buyers that are astute do care whether or not that agent is really representing and clearly get it when they are not. That is true of all economic levels and budgets, and international clients choose more carefully. International clients choose most carefully and always an Exclusive Buyer Agent.
Buying a home is not a “buddy to buddy” transaction. Buyers and Sellers have opposing interests and both sides need someone to represent them with full fiduciary duties. Home buyers definitely need an Exclusive Buyer Agent.
It has been 22 years since “She” walked into my office and this Smart Lady Investor still buys homes from me. I stopped counting at 35 properties. Only difference now is that I now do know more than she does about real estate. I also have a resume. Ask me, its a good one.
Buyers Broker of Florida is an independent brokerage that represents ONLY the best interest of the home buyer with full fiduciary duties and no conflict of interest.
It will be our pleasure to serve you. Call 407-539-1053.