Most people are familiar with the term, "broker," but many are not aware of what it means in regards to buying San Diego real estate. Every licensed San Diego real estate agent (by law) must either be a broker or work for a broker. Most real estate agents work for a broker. This way, they do not need to take the extra classes, training, exams, etc. involved in becoming a broker. If an agent wants to start his/her own real estate company, California law requires the agent to first earn his/her Broker's License. A broker is ultimately responsible for every agent and every client of his brokerage. Even if a broker has 1,000 agents who work for him, that broker is actually the agent of every single client that all those agents represent (even though the broker may not even meet the clients, he is still their agent, because he's the broker). If a broker represents many clients buying and selling many homes, the chances of that broker being a dual agent are high. If you are not familiar with dual agency and the negative affects it has on the home buying process, read this post: The Disclosure Regarding Real Estate Agency Relationship for San Diego Home Buyers.
What does this mean for the average home buyer? It's probably more information than you wanted, right? Remember, good information (and lots of it) is the key to making good decisions. Take your time in finding an agent who is truly looking out for your interests (and is not simply interested in selling you a home).
Justin Gramm is the founder and principal broker of Globella Buyers Realty, your San Diego Exclusive Buyer Brokerage. He also writes this blog, "For San Diego Home Buyers."
Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.
If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. Call Justin at (858) 437-2662 or E-mail.