There’s more than one way to buy a home, and all three of the paths below can lead you the house of your dreams. Only one of them assures that your interests are protected at every turn, however.
For people unfamiliar with the real estate process who want help navigating its complicated twists and turns, an exclusive buyer agent could be the best choice. Even better, it usually doesn’t cost you anything extra.
Which of these three methods of navigating the complicated real estate buying process sounds better to you?
The Traditional Method
The seller and the seller’s team win when transactions are handled the traditional way. That’s great for them, but it doesn’t always work out well for buyers.
The traditional way involves a listing agent and a showing agent both working for the seller. The buyer is viewed as a customer and stands alone, without representation of any kind in the transaction.
The Dual Agent or Intermediary Method
A less common way to handle real estate transactions is through a dual agent or intermediary who represents both the seller and the buyer — with full disclosure to both, of course. If this agent is a person of integrity, he or she doesn’t favor one party or work to the disadvantage of either the buyer or the seller.
The problem with this method is the potential for conflicts of interest. In many cases, no one wins with this method.
The Buyer’s Agent Method
Exclusive buyer agents work for home buyers — not sellers like most real estate agents — to make sure the transaction is completed in a way that’s favorable to you. With a buying broker on your side, you can be sure no one is trying to take advantage of you.
Since the seller has a listing broker standing with them, the transaction is balanced and ethical. This sets up a situation where everyone can feel good about the deal knowing that it’s completely fair.
The Choice Is Obvious
Smart buyers choose the method that assures them complete representation.
An exclusive buyer agent is the best choice for many real estate transactions, and using an EBA instead of a traditional real estate agent could be the best choice for you the next time you purchase a new or existing home.