QUESTION:
.What is an encyclopedia
definition of
.Exclusive Buyer Agent?
ANSWER:
From Wikipedia,
the free encyclopedia:
"An Exclusive Buyer Agent (or EBA) is a United
States real estate firm (or an agent or broker who works
in such a company) which represents only buyers of real
estate."
"As such, they are distinguished from all other
real estate firms by their business model of 100% buyer
representation."
"EBA
firms never take listings and, therefore, never represent
the seller in a real estate transaction."
"Exclusive buyer agent firms have chosen this business
model in order to eliminate the conflict of interest
which may exist when one firm attempts to represent
both buyer and seller."
"The
EBA movement started in the late 1980's and, by the
early 1990s as with the rise of Buyer agency in general
in US states, firms came into being and a national trade
association, the
National
Association of Exclusive Buyer Agents,
was formed. As of 2008, EBA firms now offer service
to buyers in almost all 50 states."
"While some states have
created various forms of DUAL
AGENCY
to
allow one company to represent both sides, other states
have made it
illegal."
Dual
Agency is still practiced by traditional Realtors in
Ohio - but only if buyers and sellers give written consent.
Undisclosed Dual Agency remains illegal in all 50 states.
THE
BUYER'S AGENT,
Buyer
Broker Real Estate
Dayton, Ohio
does not practice
Dual Agency, because
we practice
Exclusive
Buyer Agency
ONLY.
d
