There are many national and multi national chains that are listing offices. You have heard of or know many of them.
Lets Say:
If Seller Sam walks into the local MAX's real estate office and asks Max to sell his home for him, and Max in turn says sure, and puts Sams house under listing contract for a 5% fee if the property is sold, Max is considered the listing broker/agent. He works ONLY for the seller because that is the nature of the contract he has signed.
If buyer Bill walks into the local Carl's Centurion real estate office and asks Carl to help him purchase a home that the MAX office has listed, Carl's office becomes a sub-agent of MAX's office even though no contract has been signed between Carl and Max. Carl works as a sub-agent of the seller's listing broker MAX. Simply put, Carl works for Max and must work therfore only on behalf and in the best interest of the SELLER! HE DOES NOT WORK FOR YOU THE BUYER!!! UNDERSTAND THIS RELATIONSHIP! MOST PEOPLE THINK CARL WOULD REPRESENT THE BUYER! HE DOES NOT!
If an EXCLUSIVE BUYER AGENT IS CONTRACTED by a buyer. Then because EXCLUSIVE buyer agents do not take ANY homes to sell/list or advertise for a fee, WE become sole representatives and negotiators of the BUYER. We are under contract with only the buyer to attain, represent and negotiate only in the best interest of the buyer. We have absolutely NO reponsibilities or interests in the seller of the property or his brokers/agents. We must negotiate with the seller through the listing broker of the property. That is the only purpose of a buyer agent speaking to a listing broker. All buyer information MUST be kept confidential by the buyer agent to enforce the buyer agent contract. We tell no one anything about the buyer. We advise our buyers to do the same when veiwing homes with us if they are questioned by the seller or his broker/agents.
Read my own story to see how I did not understand this relationship and almost got burned!
For More Information Contact us at 781.279.3015 OR E-mail us at homebuyeragent.com