1) Who negotiates for me, the Buyer?
- An Exclusive Buyer Broker is an advocate for the Buyer, and always negotiates for the Buyer’s best interest.
2) Will using a Buyer Broker cost me extra money?
- No. The fees are included in the transaction, just like any other sale.
Note: by tradition, all brokers are paid by the Seller. Any offer that is made includes the Buyer Broker fee and comes from the Seller. Although a Buyer Broker may be paid by the Seller, the Exclusive Buyer Broker is working for you, the Buyer.
3) If the Seller is paying the fees through the transaction, who works for me, the Buyer?
- The Exclusive Buyer Broker works for you, the Buyer. The Buyer Broker often gets paid by the Seller (through a transaction fee) but has no relationship with the Seller. The Exclusive Buyer Broker negotiates the best price and terms for the Buyer. Statistics show that using an Exclusive Buyer Broker actually saves the Buyer money.
Note: Although, a Buyer Broker is paid by the Seller in the transaction, the actions of the Exclusive Buyer Broker show that the Buyer Broker is working for you, the Buyer. It is helpful to think about the transaction in a non-traditional manner. In a way, the Buyer is paying for everything. Keep in mind that the Seller brings equity and the Buyer who has the cash. If the Buyer is paying for everything, it makes good sense for your money to pay for a Broker who is working for you, the Buyer.
4) Why are there usually two Brokers when the Buyers go to the property?
- Usually, there are two brokers because one broker listed the property and works for the Seller, and another broker is bringing the Buyer. (If there are two brokers, why not have a broker working for you, the Buyer?)
5) Who does a traditional real estate agent represent?
- The Seller.
6) Why should I use an Exclusive Buyer Broker?
- Because the Buyer Broker negotiates for you.
- Because the Buyer Broker gives you the maximum exposure to the entire available real estate market.
- Because you have someone on your side throughout the transaction.