World Library  
Flag as Inappropriate
Email this Article

Exclusive buyer agent

Article Id: WHEBN0017347361
Reproduction Date:

Title: Exclusive buyer agent  
Author: World Heritage Encyclopedia
Language: English
Subject: Buyer broker, Buyer agent, Real estate, EBA, Property management business models
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Exclusive buyer agent

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.

Method of exclusive service

Real estate firms in the United States can represent both buyers and sellers in the same transaction, and when representing both, derive profit from both the seller and buyer side of the transaction. While some states have, at the insistence of Realtor trade groups, created various forms of dual agency to allow one company and in some cases an individual agent to represent both sides, other states have continued to hold such practices as illegal. In the opinion of EBAs, it is not possible to faithfully represent the best interests of opposing clients, in the same transaction, simultaneously.

The service structure for EBA real estate practitioners is to show buyers all possible listings from other cooperating brokers as well as all other sources, such as for sale by owners. Then, they assist the buyer with evaluation and negotiation and advocate in the buyer's best interests without restriction.

In their booklet "Shopping for a Home Loan" The United States Department of Housing and Urban Development"s (HUD's) settlement cost booklet (page 6) recommends that home buyers consider using an Exclusive Buyer's Agent in their home search. HUD Settlement Cost Booklet - Page 6

EBA firms amount to less than 1/2 of 1 percent of all real estate firms in the US. The EBA business model of unconflicted buyer representation eliminates the possibility of the buyer being confronted with the conflicts of interest which may be associated with the Dual, Limited or Designated Agency business models.

References

External links

  • National Association of Exclusive Buyer Agents official website
  • What is a Buyers’ Agent?
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from Hawaii eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.