Why does a home buyer need an Exclusive Buyer’s Agency (EBA)?
Using an EBA is the only way to insure that you, as a buyer, have a Realtor looking out for your own interests. This can save you time and money.
How does an EBA save a buyer money?
Other Realtors are legally obligated to get the best possible terms and price for the sellers. Consumer Reports wrote: “Home buyers may not realize that the friendly real estate agent who may show them dozens of homes, and shared their secrets with, may end up legally obligated to use that information to help get the best possible terms and price for their sellers.” A Broker with Spokane Home Buyers never represents sellers.
Who pays for EBA services?
Real Estate fees are included in the purchase price and mortgage financing. If you choose not to use an EBA, the seller’s agent may make twice as much commission for not representing you – or it can be said they get paid double to make sure you are not properly represented. To be more specific, the fees come from the transaction which the buyer brings the money into. When a seller lists their home with a listing office, they agree to pay a fee to any Broker that brings a buyer to the home, regardless of whom they represent. This is how our Brokers normally are paid. There are other circumstances and options that we can discuss in person with our clients.
What if I am still not convinced?
Consider this: “A study done once by U.S. Sprint found 233 relocating Sprint employees who hired buyer brokers paid an average of 91% of a home’s list price. People who used traditional agents typically pay about 96% of a home’s list price. On a house priced at $350,000, that’s a difference of $15,000.” Money Magazine
What’s the Catch?
There is no catch. You pay no money up front to your EBA. If you are not happy with their services, you are welcome to go back to the Realtor who has the seller’s best interest at heart.
Your Exclusive Buyer’s Agent will:
•Be legally obligated to always represent your fiduciary interest.
•Never list a home in which they could have a conflict of interest.
•Do the leg work to help you find the home you deserve.
•Keep your private information confidential.
•Use their experience and energy to make sure that your home buying adventure exceeds your expectations.
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