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What's the difference between an Exclusive Buyers Agent and a Dual Agency Realtor? An Exclusive Buyer's Agent represents the buyer's interests ONLY. Their responsibility to the seller is simply honesty and reasonable care. A dual agency Realtor is a Realtor who contracts with a seller to list their property and also represents the buyer of that same property. This would be just like a lawyer representing both sides in a law suit - - both plaintiff and defendant. An Exclusive Buyer's Agent is bound by a Confidentility Agreement with the Buyer and will never reveal anything about their Buyer to the Listing Realtor or the Seller that is not common knowlegde. This keeps the Buyer in a strong position to get the best deal possible. A dual agency Realtor must inform their Seller, by virture of the Listing Agreement Contract, of everything they can find out about the Buyer. This includes things like their reason for buying, their financial status and much more. This puts the Seller in a stronger negotiating position. An Exclusive Buyers Agent will never list property, so they show all Multiple Listings with equal enthusiasm. In addition they will show For Sale By Owners, foreclosures and will "beat the bushes" in other ways to find just the right home for their Buyer. A dual agency Realtor most often will show Buyers only homes on the local Multiple Listing Service. They serve many Buyers at the same time, preferring first to sell their own listings and then the properties of other Realtors in their own company. For more information about Exclusive Buyers Agency, visit the website of the National Association of Exclusive Buyers Agents (NAEBA). http://www.naeba.org |
