Ralph Nader, the American Association of Retired Persons, the National Association of Realtors, The Consumer Federation of America, The Wall Street Journal, and many others suggest you consider using a buyer broker. Here's what they have to say...
Ralph Nader
has condemned the National Association of Realtors successes in passing legislation that defines agency roles in real estate. Mr. Nader argues those laws are duping the public into believing home buyers are receiving full representation when they are not. Home buyers can not always receive true buyer agency representation when the selected real estate firm accepts listings. In most real estate firms throughout the United States, you will always be confronted with the possibility of dual agency unless using the services of an "Exclusive Buyer Agent".
Arizona Department of Real Estate (Property Buyer's Checklist):
"Be aware that the seller's broker does not represent you; the seller's broker represents the seller. The seller's broker has certain responsibilities to the seller that are not afforded to you. You might wish to retain the services of a buyer's broker to represent you in the transaction. Usually, the buyer's broker receives a portion of the commission paid by the seller, and the services may cost you nothing, but you will receive representation equal to that provided to the seller by the seller's broker."
American Association of Retired Persons:
"Buyer Brokers will better represent the interests of buyers than will sub-agents. They are more likely, for example, to negotiate a lower sales price on a house."
The Consumer Federation of America:
"To Buyers: If you want representation, work with a buyer broker. They are legally obligated to represent your interests in any negotiations with sellers."
Business Week Magazine:
"To protect themselves buyers can retain their own exclusive representative, called a buyer broker...Your local agent may offer such services, but be aware that buyer's brokers who also work as seller's brokers can sometimes end up on both sides of the deal."
Good Housekeeping:
"Many people don't realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms."
Kiplinger's Changing Times:
"Exclusive agencies are the best. They remove any conflict of interest, which is the main reason for considering a buyer broker in the first place."
Medical Economics:
"Level the playing field when you buy a home...You may get a better deal with your own broker pulling for you...The introduction of buyer brokers takes a horribly one-sided process and simply makes it fair,"
Mobility Magazine:
"Only by using an exclusive buyer agent can a buyer be sure all information is kept confidential. Only an exclusive buyer agent can give the buyer an objective, experienced opinion of the homes viewed to ensure the buyer gets the right home, in the right location, at the right price."
Money Magazine:
"Unlike the traditional agent who looks out for the seller, a buyer's broker acts as your advocate, helping you find the home you want and then negotiating the lowest possible price. The best buyer's brokers are so-called exclusive agents - that is they represent only buyers, never sellers, and thus are not tempted to push a house on which they stand to earn a commission."
"US Sprint (the long distance company found that "232 relocating Sprint employees who hires buyer's brokers paid an average of 91% of a homes list price. People who use traditional agents typically pay about 96%. On a house originally priced at $150,000, that's a difference of $7,500."
New York Times:
"Confusion often arises because many buyers believe that the agent who shows them houses works on their behalf. In fact, subagents of the listing broker - often they are agents who work for another office - also act on behalf of the seller."
U.S. News & World Report:
"Buyer brokers: agents that buyers can call their own...If your real estate agent isn't a buyer broker, he works for the seller...Buyers no long have to fend for themselves."
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John McFarland Broker/Owner
BuyerSide Realty in Prescott Arizona
Member of
Member Prescott Area Association Of Realtors®
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Buyer Agency