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How to Choose Your Pensacola Area  Exclusive Real Estate Agent Also Known as Strict Single Agency

Do you really need an agent? Over 90% of home buyers use an agent. Why? An agent can help you access the most homes possible using the Multiple Listing Services (MLS) and can help guide you through the process. However, not all agents are equal. Your choice of agents can greatly influence: (a) the number of homes you have to choose from; (b) the quality of information and guidance you receive; (c) the price you pay; and (d) the quality of the home you purchase (which can be particularly important when buying luxury real estate. The types of agents are listed below.

 

Exclusive  Agency - [100% for a Buyer or a Seller ... NEVER BOTH!].

Only  very few real estate brokers  are true, exclusive agencies. In the Pensacola area we are the ONLY Exclusive Agency Real Estate Company. We work exclusively for home buyers or sellers. NEVER BOTH AT THE SAME TIME! Why should this matter to you?

We help you find more homes because, having no homes of our "own" to favor, we aggressively search all homes listed with all other companies without bias. We aggressively research and negotiate 100% on your side so that you pay the lowest price. We help you get a thorough, professional home inspection, and find the toughest inspectors out there. And, we give you honest advice that you can trust, because you know we are 100% on your side, 0% on the seller's side. Less than ½% of active agents qualify as true, exclusive buyer's agents.

 

Exclusive Seller's Agency - [0% for buyers]. What we do if you want to sell your home at a later date.

This used to be the norm, where the entire firm would work only for sellers. They could claim they fought to get "top dollar" for their seller clients because, in fact, they never worked for home buyers.

This type of strict, 100% seller agency is fading. It still exists whenever you call an agent directly who is advertising a home (the "listing" agent). All agents, when they act as "listing" agent, still work 100% for the seller's interests, and many consumer advisors counsel you to never contact a listing agent directly. Except when acting as a listing agent, most agents and companies have gone to a "mixed" agency format, described below. "Mixed Up" agency is a more apt description!

 

Traditional or Designated (Mixed) Agency - [50/50 "deal makers"] some people called it mixed up agency! What a joke, don't let yourself be the loser.

Over the past few years most realty firms have gone to a "deal maker" mode. The firm and its agents claim to work as both seller's agents and buyer's agents. The problem is, however, that many times the firm and its agents will work as both buyer and seller agent at the same time! This creates a "dual agency" where the firm and its agents have an obvious conflict of interest.

Who is protected when a conflict arises? The Buyer? The Seller? Or the Agents? Which client do they negotiate for, which against? What happens if there is a problem and you, as the buyer, want to cancel the deal but the seller wants to hold you to it? Does "your" dual agent assist you or the seller? Generally you, as buyer, assume the greatest risk in a "dual agency" scenario.

The odds of such conflicts are great. Firms earn the highest commissions when they represent both parties and agents are often paid a bonus for selling such listings. So, dual agency gives the least protection to both buyer and seller, yet agents are drawn toward it to maximize their back pocket.

 

Is "dual agency" legal?

As an example, lobbyists working for "big" listing firms and the Ohio Association of Realtors talked the Ohio legislators into favoring REALTORS over consumers in 1996. So "designated agency", or representing two sides with opposite interests, became "legal." It is still impossible, from a practical standpoint. An agent will always favor either the seller, or the buyer, or perhaps favor himself over the interests of both.

Conclusion. Although dual, designated agency or Transaction Broker is supposedly legal in Ohio and around the country (barely) the best approach is to use an exclusive agent in an exclusive SINGLE agent firm. And, it's not just us who say so, too!

The Consumer Federation of America and other consumer groups agree! It only makes sense to have 100% loyalty and representation!

For further differentiation between dual/designated representation and exclusive buyer representation, please note the advantages of working with an EA listed below:

The Advantages of Working with a Exclusive Agent
Services Provided	Designated / Dual Agent	Exclusive Buyer's Agent
Arranges property showings
Provides accurate information
Explains forms and agreements
Monitors closing
Prepares a property value study	NO
Keeps your financial position confidential	NO
Promotes and protects your best interests	NO
Negotiates best price for you	NO
Negotiates best terms for you	NO
Points out reasons not to buy	NO
Passes on information to enhance your bargaining position	NO
Assists in writing the offer in your best interest only, not the sellers	NO
Exposure to entire market, both listed and unlisted, including FSBO homes	NO
Provides anonymity if needed	NO
Researches seller and property	NO

ALSO

For 25 plus years I was dual licensed both a Residential Contractor and Real Estate Broker. I am told by the home inspectors here that I am the ONLY agent/broker that attends and actually works with the home inspector as a second set of eyes ... it's the least I can do for you ... don't you think?

 

danberube@cox.net