Embarking on the most important financial decision of your life demands absolute confidence in your chosen agent's loyalty.

But who is your real estate agent working for?

Let's get into the concept of "caveat emptor," the Latin phrase urging caution – particularly relevant in real estate, where buyers assume the property's as-is status and inherent risks.

As of now, 21 states don't legally require sellers to disclose property information. The onus falls on the buyer to meticulously assess the property's condition, with sellers explicitly disclaiming responsibility. 

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"In 21 states, sellers do not have to provide information about the property to buyers." 

Unfortunately, many homebuyers overlook the crucial role of a dedicated real estate professional aligned with their interests.

Enter the distinction between buyer agents and exclusive buyer agents. 

Born out of the need for unbiased representation, exclusive buyer agents emerged in the '90s. Traditional brokerages adapted by introducing the term "buyer agent," yet these individuals still ultimately serve brokerages listing properties for sale, introducing a potential conflict of interest.

What sets exclusive buyer agents apart is their unwavering commitment to representing only one side – the buyer. Unlike their counterparts in traditional brokerages, exclusive buyer agents prioritize the buyer's needs without the selling mindset. This commitment ensures 100% loyalty, as there are no in-house listings to push or bonuses tied to selling listings.

At HomeBuyer Brokerage, our focus is entirely on the buyer, offering services ranging from property evaluation and comprehensive information disclosures to skilled contract negotiation. Since we have no interest in ‘selling’ a property, we have no problem sharing our professional opinion of the condition of a home. 

In fact, we look for what is wrong before we talk about what is right with a home. Importantly, at HomeBuyer Brokerage, we maintain transparency by abstaining from additional administrative fees.

How Buyer Agents & Exclusive Buyer Agents Are Paid Changed on August 17th, 2024

On August 17th, 2024 new real estate rules went into effect across the United States.

The NAR settlement directly affects home buyers in the following ways:

1. A signed buyer brokerage agreement is required prior to touring any homes for sale with a buyers agent
2. The signed agreement will include an amount, percentage or flat fee, for buyer agent services
3. There will be a start and end date to the agreement
4. There will be terms detailing how to terminate the buyer brokerage agreement
5. There will be clear descriptions regarding who pays the buyer agent. It can be through a seller subsidy, a buyer payment or a combination of both.

As exclusive buyer agents and brokers, we commit to keeping buyer clients informed on all issues related to the buying agents' commissions.

Consumers Should Know

1. A home buyer and buyer's agent must have a signed buyer brokerage agreement before touring properties for sale.

2. The agreement should include the length of time, payment for services, any additional fees and how to terminate the buyer brokerage agreement.

Remember, you can sign a buyer brokerage agreement for a day, weekend, week, month or longer. You decide the terms of the agreement.

3. The home buyer finances the transaction.

4. The home seller determines the amount of compensation offered to the listing brokerage.

5. The home seller decides what if any seller subsidy to offer for buyer agent services.

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‍HomeBuyer Brokerage remains committed to exclusive buyer representation. We educate and advocate for buyers in every real estate transaction. 

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How can we help?

The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.