Why use an EBA?
An exclusive buyer agent (EBA) is a U.S. real estate firm (or an agent or broker who works in such a company) that represents only buyers of real estate. EBA firms never take listings and, therefore, never represent the seller in a real estate transaction.
Exclusive buyer agent firms have chosen this business model in order to eliminate the conflict of interest that exists when one firm attempts to represent both buyer and seller in the same transaction.
(source: Wikipedia March17,2015)
Popular Related Quotes
“Groups such as the Consumer Federation of America and AARP recommend using buyer’s agents… the reason is, they work.”
– SmartMoney Magazine
“Consumer advocates say it (dual agency) cheats both buyers and sellers, denying them an agentʻs allegiance and undivided attention at a time when theyʻre making a major financial decision. ʻYouʻre either loyal or youʻre not. Itʻs like being slightly pregnant,ʻ says Maureen F. Glasheen, former counsel to the New York Secretary of State, who opposes dual agency”
– Wall Street Journal
“Exclusive buyer agencies are best. They remove any conflict of interest, which is the main reason for considering a buyer broker in the first place.” “Exclusive buyer’s brokers work only with buyer and don’t take listings. They’re obligated to help you find the best deal and lowest price.”
Only by using an exclusive buyer agent can a buyer be sure all information is kept confidential. Only an exclusive buyer agent can give the buyer an objective, experienced opinion of the homes viewed to ensure the buyer gets the right home, in the right location, at the right price.
– Mobility Magazine
“Nader again held up exclusive buyer brokerage as the only legitimate option for the home buying public.”
– Ralph Nader – Agency Law Quarterly
“A listing real estate broker doesnʻt work for you, but the seller. If you want someone on your side, bet on an exclusive buyerʻs agent.”
– Readerʻs Digest
“One option to consider that avoids the complications of dual agency and designated agency is to work with an exclusive buyer agent, who works in a brokerage, represents only buyers and never accepts listings.”
– The Washington Times
“Most agents who show you homes don’t represent your interests. They work for the seller, and their object is to sell the house for the highest possible price.”
– USA Today
“Many people don’t realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms.”
– Good Housekeeping
“A conflict of interest is more likely when a real estate firm that represents sellers assigns you one of its brokers as a buyer agent. That’s why many people believe an ‘exclusive’ buyer broker is preferable.”
– Business Week
“You can’t have partial loyalty, an agent either works for you or works for someone else.”
– Consumer Reports
“Level the playing field when you buy a home. You may get a better deal with your own broker pulling for you. The introduction of buyer’s brokers takes a horribly one-sided process and simply makes it fair.”
– Medical Economics