1993  AGENT'S GUIDE by National Association of Realtors® (NAR) entitled "Agency: Choices, Challenges &
Opportunities."
Exclusive buyer agency -- The practice of
representing only buyers and never sellers in a transaction. The company
never lists a seller's property and thus never has a seller as a
client. Agents never accept subagency that is offered by a seller's
agent.
1994 REPORT of
Consumer Federation of America entitled "Changes in Real Estate Representation; Implications for
Consumers" by Stephen Brobeck. October 18, 1994.
Contributed by Stefan J. Scholl,
NORTHERN MICHIGAN Attorney & Exclusive Buyer's Agent
But most of these buyers turn for buyer brokerage services, not to exclusive buyer brokers, but to
large firms. These firms typically assign a buyer broker to the buyer who then has an obligation to represent their interest.
And if the agent does not do so adequately, there is liability that can serve as the basis for a lawsuit. In some areas, nonexclusive buyer brokerage has grown rapidly.
In the Washington, D.C. area, according to one report, well over half of the buyers working with large firms
are represented by buyer brokers.
1998 ON-LINE ARTICLE in
Realty Times "How to Become an Exclusive Buyer's Agent"
by Blanche Evans. September 22,1998
Contributed by Stefan J. Scholl,
NORTHERN MICHIGAN Attorney & Exclusive Buyer's Agent
Currently, there are four types of agents available to assist home buyers and sellers in
the real estate transaction:
EBA - EXCLUSIVE BUYER AGENT, works for an office that does not
take listings of any kind and represents only buyers.
....
BA - BUYER AGENT, works in a traditional real estate office that takes listings.
Will work with a buyer under contract. If a buyer wishes to purchase a property
that is listed by their office, they will declare dual agency and represent both the seller and the buyer.
2003 ON-LINE ARTICLE at
Bankrate.com: "Is 'your' agent really working for you?" by Christopher Cruise. July 1,2003
Contributed by Stefan J. Scholl, J.D., ABR, EBA,
MICHIGAN Attorney & Exclusive Buyer's Agent
You can also engage what's called an "exclusive buyer's agent." This is the purest form of buyer representation, but unfortunately, few firms are able to make a go of representing only buyers....
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