Important distinctions apply to different types of agency, these distinctions affect how a home buyer is represented during a real estate transaction. ONLY AN EXCLUSIVE BUYER AGENT TRULY REPRESENTS THE BUYER WITHOUT CONFLICT OF INTEREST!
Listing agent – an agent directly representing the home seller, and serving the seller’s best interests. Namely, to sell the home for as much money as possible, at terms advantageous to the seller.
Dual agent – an agent who represents a home seller and home buyer in the same transaction. The home seller and buyer are considered adverse parties in the real estate transaction – meaning they have different objectives. A seller wants to obtain the highest price possible; a buyer wants to pay the least amount possible. Buyers often do not realize that signing a “dual agency agreement” surrenders their right to dedicated representation!
Designated agency – in this situation, the sponsoring broker, who holds the listing, designates one agent to represent the buyer, and another to represent the seller. This technically avoids the dual agency situation of one agent representing both parties. Similar to dual agency, one office is working both sides of the transaction, and limitations to representation apply. It would be like having a prosecuting attorney and a defense attorney from the same law firm, appearing in court to argue two sides of the same lawsuit. The law firm would collect a bundle, but no one else really “wins.”
These scenarios above do not serve the best interests of the home buyer! Only an Exclusive Buyer Agent truly represents the home buyer.
Exclusive Buyers Agent – a fiduciary relationship between the Exclusive Buyer Agent and the home buyer, where the agent represents the buyer’s best interests at all times. This is no-holds-barred representation that focuses on the home buyer alone. An Exclusive Buyer’s Agent does not represent sellers under any circumstances. They do not take listings, therefore they have no conflicts of interest.
As your Exclusive Buyer Agent, Harty Realty Group will:
- Show you any home on the market, including new construction, For Sale by Owner, Multiple Listing Service and bank-owned properties.
- Negotiate exclusively on your behalf with your best interests in mind.
- Save you money on your home purchase, by providing price comparisons so that you do not overpay.
- Protect your interests at all times during all stages of the home buying process.
- Be proactive towards your needs.
- Point out material issues or defects that may affect your interests, regarding the property, the contractual terms, or other evident matters.
- Perform our fiduciary duties with the highest levels of integrity.
When buying a home, be sure to use the services of an Exclusive Buyer Agent! Be sure to use Harty Realty Group – Chicagolands Premier Buyer Agent!