What is the value of using an Exclusive Buyer Agent? What makes them different than other real estate agents?
Rich who is an Exclusive Buyer Agent in Chicago, IL has worked in the construction industry. He has spent over 30 years building his professional expertise in this area. Having this professional history adds to his value as an Exclusive Buyer Agent.
Rich is able to show a buyer a house and point out the flaws or problems he can see from the viewpoint of a skilled construction worker. He has an interest in the buyer being aware of every aspect of the home they are viewing, good and bad.
Frequently, Exclusive Buyer Agents are paid out of the commission at closing. In this case, the buyer agent would not receive payment for their services if the home buyer does not find a home to purchase. It is to the benefit of buyer agents to make all aspects of the home known so the contract does not fall through due to unknown conditions. Good Exclusive Buyer Agents will also counsel when to walk away from a deal.
Rich says he shows things to the home buyer like peeling paint, windows that need replacing, water leaks, etc. Being in construction gives him the advantage of estimating what the financial setback will be for the buyer when he finds problems with the homes.
Being able to estimate costs of repairs can be of great value when making negotiations with the seller. Having an Exclusive Buyer Agent who is well-versed in this industry, along with a reliable home inspection report, can be an asset when making negotiations which are repair related.
According to Money Magazine Joseph Eamon Cummings, a study done by US Sprint found that over 200 of their employees who relocated using buyer’s brokers paid on average 91% of the listing price on their homes.
Buyers who use a traditional real estate agent normally pay around 96% of the listed price. So by buying a $200,000 house, the buyer would end up saving somewhere around $10,000 with a buyer’s agent!
In addition to Rich’s work history in construction, he also belongs to the National Association of Exclusive Buyer Agents. This ensures to anyone who works with him that he does not have any listings in his entire office. He is under no motivation to sell a buyer a specific property. He is there to protect the interests of the buyer and the buyer alone. As an Exclusive Buyer Agent, he has access to all MLS listings, foreclosures, and for sale by owner properties.
Home buyers who have used Rich’s services before have stated that his work was above and beyond what they expected to receive from a buyer’s agent. The buyers have loved him and boasted about their home buying experiences.
Buyer representation through an Exclusive Buyer Agent is a smart financial decision for buyers. Oftentimes, many Exclusive Buyer Agents have unknown skills and history that strengthen their ability to help home buyers when they are buying a new home.
Learn more about how to be a saavyhome buyer. Stop by Kathleen Chiras’s site where you can find out all about the value of an exclusive buyer agent and what they can do for you.
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