TOP 10 QUESTIONS

The following are the most asked questions about Exclusive Buyer Agency:

1) Are you a realtor or real estate agent?

Yes, we are members of the Greater Capital Area Association of Realtors, Anne Arundel County Board of Realtors, the National Association of Realtors, the Maryland Association of Realtors, and affiliates with Southern Maryland Board of Realtors. As realtors, we have the same access to the Multiple Listing Service as all other agents/realtors.

2) What properties can you show me for sale if you are not a listing agent?

By law, not listing properties and not representing sellers is the only way you can have Exclusive Agency representation and 100% loyalty all of the time.  Our agents have full access to the Multiple Listing Service, and properties for sale from other real estate agencies. Also, we will show For Sale By Owner Properties and New Construction Sales. Most traditional agents will show their own inhouse listings first because the commissions are higher and its company policy. We show everything in your price range that matches up to your "wish list" features that you would like to have in your home.

3) It is my understanding that what you do is no different from what listing agents do who represent sellers.

Well, I would have to say that you've been misinformed. By law, they (listing agencies/agents) cannot offer Exclusive Buyers Agency. If you want to really have that questioned answered "Ask an agent who may have a property that you are interested in Who do they represent?" Especially, if its one of their own listings or their company's listing(s). The agent/agency will already have an Exclusive Listing Agreement with the seller. So, who do you think they are going to represent?

4) I'd rather work with the Seller's agent to make the purchase since he/she already knows the needs and wants of the Seller. I believe that they will help me win the contract.

Remember, the seller's agent have a signed contract - a listing agreement with the seller requiring them to look out for the seller's interest in the marketing and sale of their home. The seller's agent would be in violation of Maryland law and subject to revocation of their license if they did anything to assist you or enable you to benefit from their knowledge about the seller. It negates the seller's ability to get the highest price and best terms. Legally, seller's agents cannot tell you what the property is really worth, previous asking prices, reasons for selling, or if the seller will accept less than asking price. Seller's agents are required to disclose everything about you to the seller (i.e. your ability to purchase, mortgage status, employment history, higher offers, etc.).

5) Can you recommend a lender?

Yes, we have a list of lenders that we have established relationships with that know our company only work with buyers. Also, if you need recommendations for home inspection companies, title companies, other inspection companies, we can make referrals too. Our company and agents receive no bonuses, gifts, kickbacks, rebates, etc.

6) What is dual agency?

Dual agency is when the company and the consumer signs a consent form that the designated salespersons act as dual agents. The designated dual agents cannot give advice or consultation to either party which may harm or benefit the other party in an inhouse company listing. Each dual agent no longer has the fiduciary duties of loyalty, full disclosure or lawful obedience under designated agency.  Dual agency and dual agency with designated agents serve to maximize the interests of the real estate brokerage/company. It neither serve or protect the interest of the buyer or the seller.

7) Other agents that I've spoke with say they are Buyer Agents.

Always ask the Buyer's agent if their company lists homes for sale. If they say yes, than they represent sellers and by law cannot represent your interests.  An agent that works with a company that lists homes for sale cannot ethically and legally say they are Exclusive Buyer's Agents.

8) Will it cost me more money to work with an Exclusive Buyer Brokerage/Agent?

Absolutely not, you will most likely save money. Our company fee is included in the price of any listed property which the seller offers a commission. We not only try to find you a great house in your price range, our goal is to save you money on the purchase price, lender fees, and settlement fees.

9) Don't you look out for the seller, if you are paid a portion of the commission?

Never. It is our fiduciary duty to work on behalf of the buyer's interest. The interests and goals of our clients are above anyone else's involved in the transaction.  We never risk loosing our licensing or missing out on future referrals from our clients by not always representing their best interests.

10) What if I have a home to sell?

Even though we do not list homes for sale, we can recommend experienced, professional and ethical agents to help you sell your home. This affords you the opportunity to have Exclusive representation from a listing agency and avoids dual agency.

Hopefully, we have been able to answer some of your questions. Let's get started on having a Sweet Homebuying Experience!