About Exclusive Buyer Agency
Exclusive Buyer Agents are real estate professionals who work in real estate offices that always work for buyers only, never sellers. Such offices never list homes for sale or represent sellers.
These offices are referred to as Exclusive Buyer Agencies, Exclusive Buyer Brokers or Brokerages and Exclusive Buyer Representation Companies. The key factor is that no real estate licensees at such companies take listings or represent sellers.
The easy way to tell if you are talking to a true Exclusive Buyer Agent is to ask, “Do you or anyone else in your real estate company take listings?” If the answer is “yes,” the person you are talking to isn’t a true Exclusive Buyer Agent, even if you’ve signed an Exclusive Buyer Agency Agreement or if the agent tells you otherwise.
Members of the National Association of Exclusive Buyer Agents (NAEBA) are true Exclusive Buyer Agents who work for true Exclusive Buyer Brokerages. NAEBA’s Bylaws state in part, “The broker and all associated agents must work exclusively for buyers as fiduciary agents and may never represent sellers and may never list properties for sale.” In addition to being Exclusive Buyer Agents, they must follow the NAEBA Code of Ethics which states in part, “NAEBA members pledge to you, the Buyer Client, the complete full legal fiduciary duties of: Confidentiality; Accountability; Reasonable Skill and Care; (Undivided) Loyalty; Obedience (to Lawful Instruction); Advocacy; and (Full) Disclosure. In other words…a CARLOAD of responsibilities to you!”
Real estate definitions and agency disclosure requirements vary by state. It is important that you understand what is applicable for the state you are considering a purchase in. NAEBA members can help you with this process.
Want to know more? See details on what an Exclusive Buyer Agent is and what they will do for you, why to use an Exclusive Buyer Agent, about Exclusive Buyer Agents who have gone above and beyond by becoming a Certified Exclusive Buyer Agent, and what the media has to say about Exclusive Buyer Agents.