What is Buyer’s Agency?
According to the National Association of Exclusive Buyer Agents, buyer’s agency (or EBA) is defined as follows: Exclusive Buyer Agents (EBAs) work solely for buyers, avoiding the conflicts of interest inherent in the traditional seller-oriented purchase transactions. This unique relationship of committed trust and care assures buyers the best possible home buying experience. Buyer agency is a relatively new business model in real estate, not really coming into common practice until the early 1990s. Prior to that time, the mantra in the business was “buyer beware.” A good buyer’s agent will uphold your best interests at all times. What makes buyer agency unique is that the client receives a professional service at NO COST to the buyer. Buyer’s agents are offered a portion of the commission paid for by the seller at close of escrow. Please keep in mind that not all real estate agents choose to work with buyers, so search for an agent that is marketed as a buyer’s agent.