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History of Buyer Agency
Buyer Agency Has Been Around For
About 25 Years
Yet, even today home buyers seem surprised that there is a
buyers agent that can work for them in a real estate transaction.
1983: A Real Change In Thinking
A study in 1983 by the Federal Trade Commission found that
the home buyers thought the real estate agent showing them
homes was working for them. They were wrong! The FTC put pressure
on the states to make changes. They wanted the consumers to
know who "their" agent was working for.
Circa 1990: The State of Missouri
Adopts Changes in Real Estate Laws
Missouri required agents to disclose to their customers who
they were working for. The agents then had to start telling
home buyers that they were working in the seller's best interest.
Home buyers hearing this decided that they wanted somebody
to work for them - not the seller. Thus, the beginning of
the burgeoning buyer agent role in real estate.
Real Estate Agents -what are your choices?
There are several different types of real estate
agents other than buyer agents, however, and you need to know
the difference:
- Listing agent is the agent who is working for the seller
to sell the home.
- Dual agent is an agent who works for the same company
as the listing agent does. She/he is trying to sell the
home his/her company has listed. A dual agent can't totally
represent either the buyer or the seller. She/he is working
for both.
- Subagent is an agent who does not enter into an agency
agreement with you, the buyer. He/she works for a company
other than the listing company of a home you are interested
in purchasing. She/he is representing the seller.
- Nonexclusive buyer's agent is an agent who enters into
an agency agreement with you to be a buyer's agent. The
agreement says however that at times he/she will be a dual
agent instead of a buyer's agent. These agents generally
list homes for sale also. If they represent both the buyer
and the seller they can't represent either totally.
- Exclusive buyer's agent is an agent who enters into an
agency agreement with you to give you 100% representation
100% of the time and never lists homes for sale.
Which Agent Should I Choose? Ask Yourself These
Questions
Which agent is going to work for me 100% of the time in helping
me purchase a home?
THE EXCLUSIVE BUYER'S AGENT!
Which agent is not going to show me their listings
first when they are supposed to be working for me as a buyer's
agent?
THE EXCLUSIVE BUYER'S AGENT! They don't
list homes.
Which agent is trained to be a consultant and work for me.
Which agent is not trained in all the sales
pitches to get me to buy a home?
THE EXCLUSIVE BUYER'S AGENT!
Which agent spends all their time helping clients buy homes
and none of their time listing and selling homes?
THE EXCLUSIVE BUYER'S AGENT!
Which agent is going to point out all the pitfalls of the
home as well as the advantages?
THE EXCLUSIVE BUYER'S AGENT!
Which agent never works for the seller?
THE EXCLUSIVE BUYER'S AGENT!
Which agent ...... and the list could go on, but the obvious
result is the same. If you want to purchase a home use an
EXCLUSIVE BUYER'S AGENT!
Now is the time to contact The Buyer's Agent
of St. Louis West.
Our Clients Receive 100% Representation
- 100% of the Time
Click
Here to do a search of available area properties.
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