A transcript has been provided below for your convenience
Hi I’m Jeff Kropp and we’re the Home Buyer Agents. Today we’re going to talk a little bit about what an exclusive buyer agent is and how they can benefit you. Our company is an exclusive buyer agent. What that means is we don’t work with sellers.
So typically real estate agents at the larger firms (you know the ones), they work with sellers, and they handle listings and if you walk in there as a buyer, they will assign a buyer’s agent to you. It’s all under one roof. What that does is create some conflicts of interest. What I refer to as the “funny business.” So let’s say you have one of those agents and you’re buying the listing from that same brokerage. The idea is that those different agents, your agent and the listing agent, work for the same company and they might talk to each other in order to get the deal done. Obviously that’s not going to benefit you in a tight negotiation.
The reason why we’re exclusive buyer agents and people hire us because they want to avoid that conflict of interest. They want to avoid that “funny business”. We’re sort of an insurance policy that that’s not going to happen to you in your negotiations.
There are very few of us nation wide. But if you can find us, we work the whole Chicagoland area. We recommend that you use an exclusive buyer agent for your purchase. You can find more information at www.naeba.org the National Association of Exclusive Buyer Agents. I’m Jeff Kropp and we’re the Home Buyer Agents.