Learn more about
exclusive buyer agents by watching the following 10 - minute video.
Not exact matches
A 2007 report
by the National Association of
Exclusive Buyer Agents, for example, showed that staged homes fetched higher sale prices than un-staged homes.
Whereas, if you have an
exclusive buyer's
agent then there's no question that the
buyer's
agent by fiduciary duty is to you, the
buyer and there's no conflict of interest at all.
Rich Rosa, co-founder and co-owner of
Buyers Brokers Only, LLC, discussed a variety of home - buying topics, including using an
exclusive buyer agent, the Boston real estate market, the importance of a real estate lawyer, first - time home
buyer and other mortgage programs, for sale
by owner (FSBO) properties and attending open houses without
buyer representation, with The Money Show host Rick Shaffer.
Designated
agents (also called appointed
agents) are chosen
by a managing broker to act as an
exclusive agent of the seller or
buyer.
RISMEDIA, March 22, 2010 — The National Association of
Exclusive Buyer Agents (NAEBA) expressed support for legislation recently introduced
by Representative Eliot Engel (D - NY17) that would amend the Internal Revenue Code of 1986 eliminating the so called «marriage penalty» from the Home
Buyer Tax Credit.
Standard of Practice 16 - 13 specifies this obligation: «All dealings concerning property exclusively listed or with
buyer / tenants who are subject to an
exclusive agreement shall be carried on with the client's
agent or broker, and not with the client, except with the consent of the client's
agent or broker or except where such dealings are initiated
by the client.»
Most
buyers should be customers anyhow, and those
buyers that want to be represented
by a
buyer's
agent can find an
exclusive buyer's
agent, one that can represent the
buyers 100 % of the time rather than 60 % of the time.
Exclusive representation gives the broker /
agent the ability to negotiate with unrepresented sellers (such as for sale
by owners) on the
buyer's behalf.
Privacy issues are the main reason, but also the listing
agent possesses intimate knowledge of the home's extensive features that could be overlooked
by an inexperienced
buyer's
agent who dabbles in
exclusive homes.
to appeal den., 95 N.Y. 2d 755)- broker entitled to commission where broker entered into an
exclusive right to sell agreement with seller that provided for a two month protection period where broker would be entitled to a commission if it showed the house to the prospective
buyers who signed a contract of sale within the two month period; undisputed that sellers entered into a contract of sale within the protection period and broker establishes that it showed the house during the term of the listing
by affidavits from two of its
agents which were confirmed
by records maintained
by the listing broker showing that those two
agents had signed out the key to the house on the dates in question
As an
exclusive buyer's
agent I want my clients to know about all properties on the market for sale including
by owners or properties that have not come on the market!
I must admit, I wasn't aware that, that company is... That dual
agents used designated
buyer brokers as opposed to
exclusive buyer brokers will give incentive to the
buyer brokers to sell properties that are being listed
by that firm.
1] § 17 - 530 (d)(1)(v) Establishes that «An intra-company
agent representing the seller or
buyer may provide the same services to the client as an
exclusive agent for the sell or
buyer, including advising the clients to price and negotiations strategy, provided that the intra-company
agent has made the appropriate disclosure to the client and the client has consented, as required
by this section, to dual agency representation.»
79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to
buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24
by using
exclusive right to sell listing agreement without mandatory definitions of «
exclusive right to sell» and «
exclusive agency»; broker breaches fiduciary duties to seller clients
by misleading them as to
buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller
by referring seller to the attorney who represented the
buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited
by buyer as such forfeiture clause could,
by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended
by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness
by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish
by substantial evidence that respondent acted as undisclosed dual
agent; corporate broker bound
by the knowledge acquired
by and is responsible for acts committed
by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained
Findings from a new,
exclusive survey of more than 300 licensed residential real estate
agents by the Consumer Reports National Research Center point to certain factors, such as smart pre-sale fix - ups and negotiable
agent fees, that can financially benefit both sellers and
buyers.
Then would an
exclusive buyer agent show their clients all types of properties, including, say, foreclosure, short sales, for sale
by owner, even new construction?
To make things worse, a home
buyer can decide to forego
exclusive representation, and opt instead for limited representation
by hiring the listing
agent who is already contractually obligated with a fudiciary duty to the seller to get them the highest and best offer possible at the best terms available.
The following is video produced
by the National Association of
Exclusive Buyer Agents.