The Home Buyer's Agent of Ann Arbor, Inc. A different kind of REALTOR.
1908 W. Stadium Blvd., Ann Arbor, MI 48103
734-662-6240 or email by clicking: send a note
The question now comes to which kind of buyer's agent to pick; A buyer's agent from a office that takes listings (a dual agent), or a buyer agent from a buyer only office. (Often referred to as an exclusive buyers agent.)
Note: As reported on the Today show, an agent will never introduce themselves as a dual agent. You must look at their buyer agency agreement to see if it contains the dual agent double cross or find out if their company lists homes for sale. In either case you are talking to someone who acts as a dual agent. Unfortunately, even with the agency disclosure laws, some real estate agents are still trying to hide the truth.
Detroit Free Press
Buyers and sellers get less service in a deal with dual agents because they no longer have someone bargaining on their behalf, but the brokerage reaps a higher profit because it keeps the whole commission.
Alan Fields from the book he co-authored "Your New House"
"Consumers should be aware that any buyer's agent agreement that includes a dual agency possibility (representing both the buyer and seller) is not acceptable."
U. S. News and World Report
"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."
Kiplingers Personal Finance Magazine
You'll get the surest representation from a single-agency broker or an exclusive buyer's broker."
Dan Birchman, Texas Real Estate Expert
You have a choice of working with a traditional Realtor who spends 90% of their time soliciting listings and representing sellers. Or choosing an Exclusive Buyer's Broker, who spends 100% of the time helping the home buyer get the best house possible. Make sure you choose an exclusive buyer's broker. There is a difference.
Business week
To protect themselves, buyers can retain their own exclusive representative, but be aware that a buyer's agent who also works as a seller's agent can sometimes end up on both sides of the deal."
National Home Buying Institute press release
Conflicts of interest occur when home buyers want to buy a home that is listed with their buyer agent's company. This situation is called the in-house sale and according to national statistics it happens to one out of every three home buyers. Since a real estate agent cannot legally provide undivided loyalty to both the home buyer and home seller at the same time, the agent must ask both buyer and seller to give up their right to undivided loyalty by signing a disclosed dual agency agreement. The dual agency agreement supposedly facilitates the in-house sale and means double commissions to the only real estate company involved in the transaction.The tactic of baiting the consumer with undivided loyalty and switching to dual agency may be illegal according to the guidelines of the Federal Trade Commission. These bait and switch tactics are proving to be costly to home buyers...
Money Magazine:
The best buyer brokers are so-called exclusive agents - that is, they represent buyers, never sellers...
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.
Interested? drop us a noteby clicking: send a note or call (734) 662-6240.
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