What is an Exclusive Buyers Agent?
Protect Your Investment Before You Purchase Your Luxury Home
Purchasing your luxury home is a financially significant event with long-term monetary implications. However, with proper representation, you can purchase your home at the right price to provide a lifetime of enjoyment and benefits!
Partnering with an Exclusive Buyer Agent provides home buyers with a superior level of representation and protection. Unlike Transaction Brokerages, who simply facilitate the real estate transaction between the Buyer and Seller, Exclusive Buyer Brokers work on behalf of the Buyer to ensure all of their best interests are represented and realized.
Exclusive Buyer Agent vs. Transactional Agent
Working with an Exclusive Buyer Agent is like working with the coach of a sports team. Like a coach, the Buyer Agent works with your best interests in mind and guides you through the process. They only sell properties to Buyers, and never list properties for sale. They always have the Buyers best interests in mind, and provide duties of care including: accountability, obedience, confidentiality, loyalty, full transparency, and disclosure.
Working with a Transactional Agent is more like a referee who simply helps you through a transaction. A transaction broker assists one or more parties, such as the Buyer and the selling agent, through a real estate transaction with communication, interposition, negotiation, advisement, contract terms and help at the closing table. However, they are not an agent or an advocate. Quite often, a transactional agent represents both the Seller and Buyer. In this case, as the listing agent the Seller, they cannot tell you many essential details that could be detrimental for the Buyer because they work for the Seller. Clearly, not an advantageous situation for Buyer or Seller.
Benefits of Working with an Exclusive Buyer Agent
There are many benefits to working with an Exclusive Buyer Agent (EBA). First and foremost, an EBA has a legal and ethical obligation to put your interests as a Buyer first!
Only an EBA can guarantee to negotiate on your behalf. Also commonly called an Exclusive Buyers’ Broker, an EBA can guarantee to represent the Buyers' best interests in their luxury home purchase. When you partner with Buyer Broker, you can leverage their experience and art of negotiation training to help level the playing field when it comes time to make an offer on a property. An EBA is legally obligated to provide the true facts as to property value, market/neighborhood conditions, and obvious physical defects.
An EBA will:
The Choice is Obvious
Only a Buyer Broker provides you with the highest level of fiduciary duty and representation. From pre-purchase counseling and mortgage lender referrals to luxury home searches, showing services for all homes on the market (not just MLS), and negotiating the best prices and terms, an EBA will work tirelessly to ensure you find your dream home for the lowest price and best terms.
If you are interested in learning more about how an Exclusive Buyer Broker can help you purchase your luxury home in Fort Lauderdale, contact a member of our team today.