Another “somewhat” good article about buyer’s agents popped up over the weekend in the Columbus Dispatch newspaper. Buyer’s agents work on clients behalf, using one can help bring a better deal on home purchase. This story was written by Mary Ellen Slayter of The Washington Post. Mary has a decent history of writing informative articles (for example, Watching Out for You, the Buyer) that help educate home buyers and explain the virtues of using a buyer’s agent.
But, like many writers, Mary’s articles fall short of providing accurate information. Mary’s main sources and references in her articles are mainly tainted by traditional real estate agents and organizations that are trying to promote the real estate industry in general, and NOT really promoting true buyer advocacy. The most important issue for any potential home buyer is to first find a qualified Exclusive (true) Buyer Agent (EBA). Articles like Mary’s do more harm than good because they don’t clearer state the important differences between a traditional real estate buyer agent and an Exclusive Buyer Agent.
Many traditional buyer agents will sell homes and take listings. This creates a huge, conflict of interest to any home buyer and exposes them to being “sold” properties by their so called buyer agent instead of their buyer agent being their advocate and adviser. Almost all Exclusive (true) Buyer Agent have access to all homes in their market but they do NOT SELL homes or take listings at all! An Exclusive Buyer Agent is the highest, best representation possible for any home buyer.
Many traditional buyer agents are just using the “title” to try and capture business. Mary’s suggestion for finding a buyer agent, “Another way to find a buyer’s agent is to visit open houses” is probably one of the most negligent and craziest suggestions that I’ve ever heard. Home buyers should start at the National Association of Exclusive Buyer Agents (NAEBA) if they are trying to find a good, qualified buyer agent. Good luck!
My Buyer Broker Advocate! 
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October 20, 2011 at 6:16 pm
Jim
Exclusive or not, you are still dealing with used house salespeople and it is aways a good time to buy, even if it’s not.
October 22, 2011 at 5:39 pm
Michael
Jim thank you for the comment. Exclusive Buyer Agents/Brokers (EBA) has the highest fiduciary responsibility of any real estate agent. EBA’s don’t sell. An EBA is an advocate and/or advisor to their Buyer client. I agree many real estate agents will always say it is a good time to buy or sell a home when it might not really be a good time. Real estate is very local centric. You can’t really make general analysis. But, historically the data doesn’t lie. There probably hasn’t been a better time in the last 100 years to buy a home. Interest rates are low (under 4% fixed), inventory is high and flat, depressed or still declining real estate prices. This is truly a Buyer’s market.