All Real Estate Companies In North Alabama Practice Dual Agency . . Except The Buyer's Advocate.
Congratulations on your home search and purchase adventure. For most people, their home purchase will be their largest investment.
With $1000’s of dollars on the line, I will show you how to maximize your buying leverage.
After reading through the subjects on my site, you will be better equipped to buy a home than 90% of the home buyers out there.
Let’s discuss some basics . . . . This knowledge can save you $1000’s
In my opinion, One of the most important things a buyer needs from the beginning to the end of the home buying process – Is an agent that will fully represent them, without Conflict Of Interests.
Did you know that> 99.9 % of the real estate companies in my area, represents both Buyers and Sellers at the same time !
Wait ! . . . . ” How can an agent negotiate for the lowest price for me, when they are trying to get the highest price for the Seller” ?
The answer is, “They Simply Cannot”
Why would any agent be willing to expose the buyer to such a dis-advantage? 99.9 % of the companies do.
An Agents Willingness To Offer The “One Minute I’m For The Buyer To . . . Now They Are Not”, Way Of Doing Business – Is Wrong.
The Law in our state, ” and in most states”, significantly restricts and limits the agents ability to share ” Pro- Buyer information and negotiation strategies, when that agents company also represents sellers.
Traditional agents try their best to “make it seem” like they offer Exclusive representation on all homes.
Many Agents in our market have gone so far as to use a Buyer Agent Agreement that is Titled “Exclusive Buyer Agency Agreement”. This form was created by the local Board.
This agreement is far from Exclusive. Included in this agreement page, they have inserted what I call a “Switch Clause”. This clause allows the agent to switch you to a Limited / Reduced level of representation. In my market they call it “Limited Consensual Dual Agency”. Let’s break this term down.
Limited . . . this means the agent is limited in giving the buyer full representation. Meaning the agent cannot negotiate for the lowest price for the buyer. The agent cannot share information that could enhance the buyers bargaining position. I agree that the buyer is definitely limited in having an agent that will look out for them when they agree to this.
Consensual . . . . So the assumption here is; If the agent discloses to the buyer that they will be receiving limited representation, and the buyer consents, then it’s OK for the agent to take the buyer, to Dual Agency . . . down the path of reduced representation. . . ? ?
Dual Agency . . . . Dual Agency is a situation which the agent attempts to represent both the Buyer and The Seller in the same transaction. Dual Agency is illegal in many states – as it should be, but is allowed in Alabama. As long as the buyer consents to this “limited”, reduced representation.
In 2010 through 2014. Over 1/3 Of the Buyers in my market received reduced levels of representation when they purchased their home. That’s over 2900 Buyers per YEAR !
Sadly, Many buyers, go through the home buying process, unaware that they were not fully represented.
But The GOOD NEWS is:
“A buyer does not have to agree to Reduced or Limited Representation”
There are a few Realtor companies around the U.S. that has taken Buyer Representation to its highest level by representing “Only Buyers”.
The Buyer’s Advocate Realtors Is Such A Company.
We do not practice dual agency in any form. Because we do not take listings from sellers.
We can Show and Aggressively Negotiate For You – Any of The 1000’s of Available Homes in Our Multiple Listing System.
By Eric Kruse