Due to the housing crisis of 2008, many people prefer to handle their own transactions in today’s real estate market. Some buyers and sellers feel that by eliminating the middle man, they can save time and money and shield themselves from any potential crisis. This is a misconception and a definite hangover from the 2008 housing crisis. As today’s housing market stabilizes, buyers and sellers should never underestimate the important role an exclusive buyer’s agent takes on.
Why Buyers Should use an Exclusive Buyer's Agent
If you are in the market to buy a specific home, and you choose to handle the transaction on your own, you must recognize that the seller’s agent will work in the best interest of the seller. Since the seller’s agent understands all the nuances of the real estate market, you may find yourself agreeing with the seller’s agent and finding yourself on the short end of the deal. An exclusive buyer’s agent working on your behalf will negotiate with the seller’s agent and bargain the best possible deal for you. An exclusive buyer’s agent ensures that you will not wind up on the short end of the deal.
What to Look for in an Exclusive Buyer’s Agent
Exclusive buyer’s agents separate themselves from traditional agents and brokers. First of all, an exclusive buyer’s agent will always work in your best interest. Exclusive buyer’s agents will educate you about the current real estate market at all times and perform market comparisons, also known as comparables, so you never overpay for any home currently up for sale. Other services include negotiating exclusively on your behalf and fulfilling all fiduciary duties, usually at no additional cost.
Source:
Why Use an Exclusive Buyer Agent?, naeba.org
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