In a recent Realty Times article, Bob Hunt, Director of the California Association of REALTORS®, penned an article entitled, “Dual Agency Can Be a Good Thing.” In it, he argues that real estate transactions are different; that those negotiations are about getting the deal done rather than about one side winning or losing. Because of that, it’s OK for the REALTOR® to be the servant of two masters, working for the buyer and the seller simultaneously.
If a recent survey of the membership of the National Association of Exclusive Buyer Agents (NAEBA) is correct, home buyers will face increasing challenges in 2016. Most Exclusive Buyer Agents (EBAs), regardless of which U.S. market in which they do business, predict that inventory will remain low. According to one NAEBA member Exclusive Buyer Agent, “The big challenge in our market will be the shortage of inventory,” and another adds, “Low inventory and crushing demand mean most sales will be bidding wars.”
The home buying season is heating up right on cue as spring arrives. Finally, you can leave the cozy comfort of internet searching and get out and tour actual homes in the fresh air and sunshine.
If you’ve found your way to this blog post you are at least somewhat aware of the risks and hazards of buying a home. Or being sold one, to be more accurate. That is why you are checking out Exclusive Buyer Agents in the first place.
A recent study conducted by National Association of Exclusive Buyer Agents (NAEBA) shows that Exclusive Buyer Agents on average are more experienced than traditional real estate agents as presented in surveys conducted by the National Association of REALTORS®. In this study in which both NAEBA member and nonmember agents responded, nearly 60% of the respondents had over 20 years of real estate experience while less than 1% had less than two years of experience.
A recent survey conducted by the National Association of Exclusive Buyer Agents (NAEBA) shows that some real estate closings are already being affected by the new “Know Before You Owe/TRID” regulations that went into effect October 3. The survey went out to brokers across the United States and nearly 20% stated they are already seeing issues, mostly delays in closing.
A recent study conducted by Morgan Stanley shows that Zillow Premier Agent Advertisers, those who pay extra to advertise on Zillow, have an increased number of dual agency transactions compared to other agents. According to the study, over 60% of Premier Agents reported that the advertising increased their dual agency transactions by about 30%.
The National Association of Exclusive Buyer Agents recently conducted a survey of its membership to determine the top issues facing today’s home buyers. Exclusive buyer agents across the country were simply asked, “What is the number one issue facing home buyers in your market today?” Two-thirds of the respondents responded with lack of inventory or low inventory.
Continuing with its 20-year history of advocating for home buyers, the National Association of Exclusive Buyer Agents filed an Amicus Curiae or “friend of the court” brief on behalf of the plaintiff in a case currently before the California Supreme Court. In his suit Horiike v. Coldwell Banker, plaintiff Hiroshi Horiike contends that even though the listing agent was originally contracted by the seller, because the listing agent was an agent of the same broker and in the same brokerage as his buyer agent, the listing agent also owed him, the buyer, representation as well.
The National Association of Exclusive Buyer Agents (NAEBA) has opened a service to provide home buyers with a listing of Exclusive Buyer Agents in their area. As buyers get more savvy about the reasons to hire a real estate agent, they are searching for someone who will represent them, negotiating for them throughout the transaction, rather than simply someone who will find them a house.
The NATIONAL ASSOCIATION OF EXCLUSIVE BUYER AGENTS (NAEBA) is celebrating its 20th year of protecting real estate consumers and promoting the Common Law of Agency in real estate. Until the 1980’s, all real estate agents represented the seller in a real estate transaction. With the advent of Exclusive Buyer Agency, where a real estate brokerage only represents the buyer in any transaction, rights and protection were also developed for buyers by eliminating any perceived conflicts of interest.