Chris Calhoon Real Estate provides exclusive buyer representation for people purchasing homes in Fairbanks, Alaska. The business represents buyers rather than sellers and explains the difference between seller agents, buyer agents, exclusive buyer agents, and dual agents. Buyers receive representation focused on their interests, including help locating a suitable home, negotiating price and terms, maintaining confidentiality, and receiving known information about the seller and property.

The number one reason for choosing an Exclusive Buyer Agent is that you will save money on your new home purchase because he or she is representing “only you” and not the sellers.

Chris Calhoon Real Estate represents homebuyers exclusively and does not take seller listings. An exclusive buyer agent works for the buyer’s interests, helping locate an appropriate home, negotiate price and terms, protect the buyer’s confidentiality, and disclose known information about the seller and property. The page also explains that an Exclusive Buyer Brokerage Agency Agreement establishes the commitment to represent the buyer exclusively.

There are three main types of Realtors: Seller Agents, Exclusive Buyer Agents (or Brokers), Dual Agents (including non-exclusive Buyer Agents). After reviewing the information below it should be clear that an Exclusive Buyer Agent will get you the best deal.

SELLER’S AGENT
Also known as “listing agent”. This is the agent whose name is on the sign. Legally obligated to represent the seller’s interests. Duty is to get the highest price and best terms for the seller, maintain seller’s confidentiality and disclose all known information about prospective buyers. Seller is “client”, buyers are “customers”.

EXCLUSIVE BUYER AGENT
Works for an office that does not take listings of any kind and represents only buyers. The only way for a buyer to be guaranteed 100% representation.

BUYER AGENT
An agent retained by the buyer to represent the buyer’s interests. Requires an agreement of the parties for agent to represent the buyer – not all agents who show homes to buyers represent them! Duty is to locate the right home for the buyer, and negotiate on buyers’ behalf for best price and terms, maintain buyer’s confidentiality and disclose all known information about the seller AND THE HOME to the buyer. Buyer is “client”, sellers are “customers”.

DUAL AGENT
Whenever the agents for the seller and the buyer work for the same real estate company, or “broker”, they BOTH become DUAL AGENTS. Neither buyer nor seller are fully represented. “Designated agency” is a form of dual agency. Liken this to attorneys not representing both sides in the same court case – when they work with both sides they are conducting “mediation” – helping the parties reach their own agreements, but not going to bat for either one.

Below are some comments from the media:

“Like it or not, the real estate agent helping you house hunt is usually working for the seller and is legally bound to try to get the seller the highest price. But buyers no longer have to fend for themselves. You can hire a buyer agent to work on your behalf.” – U.S. News and World Report

“Buyer agents work only for consumers and can save them money – and they don’t cost more to hire.” – Los Angeles Times

“Unlike the traditional agent who looks out for the seller, the buyer broker acts as your advocate, helping you find the home you want and then negotiating the lowest possible price.” – Money Magazine

“The best buyer brokers are so-called exclusive agents – that is, they represent buyers, never sellers…” – Money Magazine

Points to remember when choosing an Exclusive Buyer Agent:

  • Be sure the Exclusive Buyer Broker is a Realtor whose company does not ever take listings or represents sellers.
  • Use only Exclusive Buyer Brokers who have access to For Sale By Owner, New Construction by Builders, and Realtor inventory Homes in the MLS (Multiple Listing Service).
  • Membership in a national organization helps to assure a higher standard of quality service (for example, Buyer’s Resource, the National Association of Exclusive Buyer Agents (NAEBA), the Real Estate Buyer’s Agent Council (REBAC), etc.
  • Insist upon signing an Exclusive Buyer Brokerage Agency Agreement. This agreement assures that the real estate agent and company are committed to the buyer exclusively. Those companies who do not use this agreement are not able or willing to make a full commitment to you.

An exclusive buyer agent works through a real estate office that represents buyers and does not take listings. Chris Calhoon Real Estate emphasizes exclusive representation so the buyer’s interests remain the focus of the agency relationship.

What Sets This Representation Apart:

  • Represents buyers rather than sellers
  • The office does not take listings
  • Buyer representation is established through an Exclusive Buyer Brokerage Agency Agreement
  • The buyer is the client rather than simply a customer
  • Representation includes negotiating on the buyer’s behalf
  • Buyer confidentiality is maintained
  • Known information about the seller and home is disclosed to the buyer
  • Access includes MLS inventory, as well as homes offered for sale by owners and new construction by builders

How Exclusive Buyer Representation Works

  1. Establish the Agency Relationship: The buyer enters into an Exclusive Buyer Brokerage Agency Agreement with the real estate agent and company.
  2. Identify Suitable Properties: The buyer’s agent helps locate homes that may meet the buyer’s needs, including properties listed through the MLS, For Sale By Owner properties, and new construction from builders.
  3. Evaluate the Home: The buyer’s agent provides known information about the seller and property while maintaining the buyer’s confidential information.
  4. Negotiate for the Buyer: The agent negotiates on the buyer’s behalf with the goal of securing favorable price and terms.
  5. Maintain Buyer-Only Representation: Because the brokerage represents buyers exclusively and does not take listings, the agency relationship remains focused on the buyer’s interests.

Q&A’s

Q1. What is an Exclusive Buyer Agent?

An Exclusive Buyer Agent works for a real estate office that does not take listings or represent sellers and represents only buyers. The page explains that this structure is intended to provide the buyer with exclusive representation throughout the home-buying process.

Q2. What does a buyer’s agent do for a homebuyer?

A buyer’s agent is retained by the buyer to represent the buyer’s interests. Responsibilities described on the page include helping locate the right home, negotiating on the buyer’s behalf for price and terms, maintaining buyer confidentiality, and disclosing known information about the seller and home.

Q3. What is the difference between a seller’s agent, buyer’s agent, and dual agent?

A seller’s agent represents the seller’s interests, while a buyer’s agent is retained to represent the buyer. A dual agency situation occurs when agents for the buyer and seller work for the same real estate company or broker. The page explains that buyers should understand these different representation arrangements before choosing an agent.

Q4. What should I look for when choosing an Exclusive Buyer Agent?

We recommend choosing an Exclusive Buyer Broker whose company does not take listings or represent sellers, who has access to For Sale By Owner properties, new construction, and Realtor inventory through the MLS, and who uses an Exclusive Buyer Brokerage Agency Agreement. It also recommends considering membership in a national organization.

Q5. Why is an Exclusive Buyer Brokerage Agency Agreement important?

We recommend signing an Exclusive Buyer Brokerage Agency Agreement because the agreement establishes the commitment of the agent and company to represent the buyer exclusively. It is presented as an important consideration when evaluating an Exclusive Buyer Broker.

Check out the information on my website to see if I will the best Exclusive Buyer Broker to represent you. Call or email if you have any questions.