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Learn About Buyer Agency And A Buyer Agent

A buyer agent or buyer broker (sometimes referred to as buyer agency) represents the buyer in a real estate transaction. Buyer agency is defined as follows: A principal agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer. What does that mean? It means that a buyer agent is tied to the buyer, and that all of that agent's loyalties are to the buyer.

The seller's agent, of the listing agent, represents the seller, not the buyer, and his or her loyalties are to the seller. They must tell the seller anything you, the buyer, tell them, even if it hurts your negotiating position.

Although the benefits of a buyer agent are obvious, remarkably many individuals do not know they can have their own real estate agent who will look out for their best interests.

Simply put, there isn't any reason not to have an exclusive buyer agent represent you and many important reasons to have an exclusive buyer agent.

An exclusive buyer agent only represents the buyers, and everyone in his or her office also represents only buyers, not ever sellers, and looks out for the buyer's best interest at all times. A buyer agent has a duty and obligation to get the best deal for the buyer(s). Remember, not all buyer agents are exclusive buyer agents. You should demand 100 percent loyalty, 100 percent of the time.

An exclusive buyer agent is paid the same seller-authorized commission split that is offered across the board to any agent who brings a buyer, so a buyer's agent does not collect any fees from the buyer.

A buyer agent will pass along any information about the seller or his or her property to help the buyer make a smart decision and get a good deal. An exclusive buyer agent has no interest in you buying any particular piece of property, so a buyer agent will provide you with objective advice. A buyer agent will spot potential problems with a home or any material defects. The seller's agent will not.

For more information, use the following link to read a Merrimack Valley Magazine article about exclusive buyer agents and read below to see what the media has to say about using a buyer agent.

What The Media Says About Exclusive Buyer Agents

"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."
- Business Week

"... a buyer's broker is prohibited from disclosing to a seller that the buyer can, or will, pay more than what has been offered ... To 'eliminate conflict of interest,' exclusive buyers' agents do not take listings"
- New York Times

"Exclusive buyer representatives act exclusively on behalf of a buyer ... their loyalty to the buyer is never in question"
- Fairfield County Business Journal

"Unless the agent is an exclusive buyer's agent ... there is a potential conflict of interest"
- Chicago Sun Times

"... without an exclusive buyer agent, there may be a question of loyalty."
- Merrimack Valley Magazine

"Groups such as the Consumer Federation of America and AARP recommend using buyer's agents."
- SmartMoney Magazine

"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."
- USA Today

"Many people don't realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms."
- Good Housekeeping

"Buyer brokers: agents that buyers can call their own ... If your real estate agent isn't a buyer broker, he works for the seller ... Buyers no longer have to fend for themselves."
- U.S. News & World Report

"Exclusive buyer agents make every effort to get the lowest possible price for their buyers."
- The San Francisco Examiner

"The best buyer brokers are so-called exclusive agents ... they represent only buyers, never sellers"
- Chicago Tribune

"Buyer brokers have the buyer's interests in mind. They act as a personal advocate, hunting for the right house and haggling with the seller's agent. In fact, a 1992 study by a national long distance phone company, found that 200 relocating workers who used buyer brokers paid an average of 91% of the offering price, whereas those using traditional brokers paid 96%."
- Diversion Magazine for Physicians

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"Buyers Brokers Only, LLC made my home-buying process painless from start to finish. I was well-informed throughout the entire process, and I didn't have to hire a separate attorney because they do it all!"

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"... as we continue to settle down in our new home, we cannot stop marveling at our good fortune. With your patient assistance, we found a lovely home. You were wonderful to work with, and we will always recommend you to anyone we know who is looking to buy a house."

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Client: Frank P.
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Client: Reid C. & Jocelyn P.
"We would recommend all my friends and family. Thank you for all the work you did to insure that we were comfortable as first-time home buyers."

Client: Susan H. & Brian C.
"Your knowledge of all things real estate was great, but more importantly we felt you had our best interests at heart."

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Our coverage area includes: Essex County, Middlesex County, Norfolk County, Plymouth County, Suffolk County, Worcester County, Barnstable County and Bristol County in Massachusetts. Rockingham County, Hillsborough County and Merrimack County in New Hampshire. The following are just some of the Massachusetts cities and towns we provide real estate buyer agent services: Acton, Abington, Amesbury, Andover, Ashland, Ayer, Avon, Belmont, Berlin, Beverly, Billerica, Bolton, Bolyston, Boston (including, East Boston, Charlestown, North End, South Boston, Dorchester, West Roxbury, Roxbury, Roslindale, Jamaica Plain, Chinatown, South End, West End, Back Bay, Allston, Brighton and Beacon Hill), Boxborough, Boxford, Bradford, Braintree, Brockton, Brookline, Burlington, Cambridge, Canton, Carlisle, Carver, Chelmsford, Chelsea, Cohasset, Concord, Danvers, Dedham, Dover, Dracut, Dunstable, Duxbury, Essex, Everett, Fall River, Fitchburg, Foxborough, Framingham, Georgetown, Gloucester, Grafton, Groton, Groveland, Hamilton, Hanson, Harvard, Haverhill, Hingham, Holbrook, Holliston, Hopedale, Hudson, Hull, Ipswich, Lawrence, Leominister, Lexington, Lincoln, Littleton, Lowell, Lunenburg, Lynn, Lynnfield, Malden, Manchester, Marblehead, Marlborough, Marshfield, Maynard, Medfield, Medford, Medway, Melrose, Merrimac, Methuen, Middleton, Millis, Milton, Nahant, Natick, Needham, New Bedford, Newbury, Newburyport, Newton, North Andover, Northborough, North Reading, Northborough, Norfolk, Norwood, Norwell, Peabody, Pembroke, Pepperell, Plymouth, Quincy, Reading, Revere, Rockland, Rockport, Rowley, Salem, Salisbury, Saugus, Scituate, Sharon, Shirley, Shrewsbury, Somerville, Southborough, Stoneham, Stoughton, Stow, Swampscott, Tewksbury, Topsfield, Townsend, Tyngsborough, Wakefield, Walpole, Waltham, Watertown, Wellesley, Wenham, Westborough, West Boylston, Westford, West Newbury, Weston, Westwood, Westport, Weymouth, Whitman, Wilmington, Winchester, Winthrop, Woburn and Worcester, Wrentham. The following are just some of the New Hampshire cities and towns we provide real estate buyer agent services: Atkinson, Brentwood, Derry, Dover, East Kingston, Epping, Exeter, Hampstead, Hampton, Hampton Falls, Hollis, Hudson, Kingston, Londonderry, Manchester, Nashua, Newmarket, Newton, North Hampton, Pelham, Plaistow, Portsmouth, Raymond, Rye, Salem, Seabrook, Stratham and Windham.

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