Homebuyer Representation, Inc.
Types of Real Estate Agents
Most buyers think that the agent they are working with is working for them. But unless a buyer has hired an Exclusive Buyer’s Agent, the agent might actually represent the seller.
Here’s why:
There are 4 main types of agents:
1. Traditional Agents (a.k.a. Listing Agents, Seller’s Agents)
A traditional agent works for sellers and represents their interests. Before the early 80’s, all real estate agents worked for the seller. Buyers had no true representation. They were “customers” of the seller.
Today, in addition to representing sellers, traditional agents can also work with buyers as either customers or clients.
Many traditional agents will still work in a non-agency relationship with buyers as customers (meaning that the agent really works for the seller).
Other traditional agents offer to work in a dual-agency relationship with both a buyer and a seller in the same transaction. (More on this below.)
Most agents are Traditional Agents.
2. Buyer's Agents
A true Buyer’s Agent is an agent who assists a buyer as their agent in a transaction where the buyer’s agent and brokerage does not also represent the seller, thus giving 100% loyalty to the buyer in the transaction.
Many Traditional Agents promote themselves as “Buyer’s Agents” even though they may also list properties for sale and could therefore be unable to promise 100% loyalty in transactions involving those homes. Some traditional buyer agents work on a team under a Listing Agent who works almost exclusively for sellers.
Unless a property has already been identified, and that property is listed by a different agent and brokerage... or not listed at all... most Buyer’s Agents cannot promise 100% loyalty to a buyer throughout their transaction. Conflicts of interest will exist if you want to buy a home where "your" agent or broker already has legal obligations to the seller of that home.
There are some Buyer’s Agents that work for companies that do not list homes or represent sellers at all. (See the next type of agent.)
3. Exclusive Buyer's Agent (EBA)
An Exclusive Buyer’s Agent (EBA) is an agent who promises 100% loyalty to the buyer throughout their transaction. They can do this because an Exclusive Buyer’s Agent, and the company they work for, represent buyers only and do not list homes for sale. They are experts in representing the buyer's best interest from start to finish. Their loyalty is not to the seller, or to getting the deal to close, but to the buyer, 100% of the time.
Buyers who hire an EBA hire an agent who can commit 100% loyalty to the buyer, and is under no obligation to any seller. They can promise this even before the search for any potential homes has begun. The agents at Homebuyer Representation are Exclusive Buyer's Agents with decades of experience representing buyers only at the highest level.
4. Dual-Agent or Limited Agent
A Dual-Agent is an agent with obligations to both the seller and the buyer in the same transaction. Because of this, Neither party receives full representation.
Full representation includes undivided loyalty, full confidentiality and full disclosure of all information known to the agent. These things are missing in a transaction where the agent or broker is a dual agent.
Many brokerages prefer to call Dual-Agents by the less disparaging term “Limited Agent”. Others call them "facilitators." Regardless of what they are called, the loyalty of a dual agent is to neither the seller nor the buyer, but to the transaction, and working to keep the transaction together until it closes.
Consumer Reports has warned: "You can't have partial loyalty. An agent either works for you or works for someone else."
The agents at Homebuyer Representation are Exclusive Buyer's Agents. We don't list homes or represent sellers as clients. Read on to learn how we work to get our buyer clients the best price and terms on any home they want to buy in Salt Lake City, Utah* and the surrounding areas.
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Not buying a home in utah?
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If you are thinking of buying a $500,000-$5,000,000 home in Utah in the next 9 0 days, contact us NOW for a no-obligation consultation.
"Exclusive agencies are best. They remove any conflict of interest, which is the main reason for considering a buyer broker in the first place" - Your New Home - Denise Fields
At Homebuyer Representation, we represent buyers in the following areas:
Salt Lake County:
Alta
Bingham Canyon
Bluffdale
Brighton
Copperton
Cottonwood Heights
Draper
Emigration Canyon
Herriman
Holladay
Kearns
Magna
Midvale
Millcreek
Murray
Riverton
Salt Lake City
Salt Lake County
Sandy
Snowbird
Solitude
South Jordan
South Salt Lake
Taylorsville
Union
West Jordan
West Valley City
White City
Utah County:
Alpine
American Fork
Benjamin
Birdseye (UT Cnty)
Cedar Fort
Cedar Hills
Cedar Valley
Draper (UT Cnty)
Eagle Mountain
Elberta
Elk Ridge
Fairfield
Genola
Goshen
Highland
Lake Shore
Lehi
Leland
Lindon
Mapleton
Orem
Palmyra
Payson
Pleasant Grove
Provo
Provo Canyon
Salem
Santaquin
Saratoga Springs
Spanish Fork
Spring Lake
Springville
Sundance
Utah County
Vineyard
Woodland Hills
Davis County:
Bountiful
Centerville
Clearfield
Clinton
Davis County
Farmington
Fruit Heights
Hooper (Davis Cnty)
Kaysville
Layton
North Salt Lake
South Hooper (Davis Cnty)
South Weber
Sunset
Syracuse
Val Verda
West Bountiful
West Point
Woods Cross
If you would like to get the highest level of representation when buying a home in one of these areas, , message us for a free consultation or Find An Exclusive Buyers Agent here.
Information on this site is about buying a home in Utah.
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Homebuyer Representation, Inc. specializes in Exclusive Buyer Representation for clients with excellent credit, good down payments, and looking to purchase single family residential homes between $500,000 and $5,000,000 in the Salt Lake City, Utah area within 60 days.
If this describes you, message us for a free consultation or Find An Exclusive Buyers Agent here. If this describes you, but you plan to purchase a home in another state, Find An Exclusive Buyers Agent here. Our Relocation Department can help you find Buyer Agents nationwide at RepRelocation.com
This page is for all home-buyers, whether you are buying a home in Utah for the first time, purchasing a second home in Utah or relocating to Utah from another state. When buying a home, you may need home buying help. The information on this site will help you learn what you need to know before buying a home in Salt Lake City, Utah and the surrounding area. The information provided on this site is provided free of charge with no obligation.
