The National Association of REALTORS® (NAR) and the National Association of Exclusive Buyer Agents (NAEBA) both clearly define the difference between a traditional buyer's agent and an Exclusive Buyer's Agent in the same way.
A buyer's agent is an agent who represents home buyers at least part of the time but works for a firm/brokerage that also represents sellers. The "buyer's agent" may choose to represent sellers part of the time or may choose to only work with buyers, but they work for a firm/brokerage that represents both buyers and sellers. When a San Diego real estate company represents both buyers and sellers, there is a much higher risk for clients to experience dual agency.
An Exclusive Buyer's Agent never represents sellers and works for a firm/brokerage that never represents sellers. Many exclusive buyer agents are members of the National Association of Exclusive Buyer Agents, but some are not.
Some buyer's agents market themselves as "exclusive buyer agents" even though they work for brokerages that represent sellers. These agents are either unaware of the distinction between the two terms or purposefully deceiving their clients and prospects. Fortunately, there are not very many agents who use the term incorrectly, and one can find out quite simply by asking one question of each agent they interview: "Do you or any agents working for your company or broker ever represent any sellers of San Diego real estate? For an Exclusive Buyer's Agent, the answer will always be, "No, our company only represents homebuyers." Both NAR and NAEBA are clear that a real estate agent cannot use the term "exclusive buyer agent" unless that agent works for a company that specializes in representing homebuyers only.
Also Read: Interview Questions to Ask Before Hiring a San Diego Buyer's Agent
Also Read: Hiring a Salesperson vs. Hiring a Consultant
Also Read: What is a Buyer Strategy Session?
Also Read: What is an Exclusive Buyer Agent (EBA)?
Also Read: How Does a Buyer's Agent Get Paid?
Also Read: 5 Reasons You'll Be Thrilled at Closing
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.