HERE’S A LIST OF QUESTIONS TO ASK
POTENTIAL AGENTS

We were at a loss to explain why more home buyers weren’t taking advantage of our exclusive "Buyer Only" services. What we realized was that traditional listing real estate agents often mislead home buyers into believing that they can do what only we can do. So our "20 Questions" became our answer. If you will read, study and understand each of these questions and then ask prospective agents for their answers...then, and only then, will you be able to make an informed decision!

The most important thing you can do when buying a home is to choose the right real estate agent before you start looking. We believe that Buyers Only Realty’s unique, exclusive Buyer Only services will help you to avoid costly mistakes. So, ask these questions of other agents you are considering, review the answers, compare and then decide. We’re ready to help you find your new home.

1) Do you, or the Company you are with, take listings?

If in fact you do, you cannot be an Exclusive Buyers Agent. Exclusive Buyers Agents never take listings and never represents sellers. They provide 100 % loyalty to buyers, 100 % of the time! 100% focus on your needs.

2) Will you try to sell me one of your listed properties before you show me listings from other Real Estate Companies?

If you do, you cannot, under California law be a Buyers Agent! You have a contract with, and have agreed to, represent the best interests of the Seller. Exclusive Buyers Agents have no listings to sell and therefore will show you everything that is available right from the beginning. They do not steer you to any particular properties and will help you buy the home you want. Agents that take listings are required to attempt to sell their listings first and their company listings next before showing other properties.

3) Who will you represent if I am interested in one of your "in-house" listings?

Exclusive Buyers Agents don’t take listings and therefore can fully represent you on any property you might be interested in, whether listed or unlisted. Traditional agents must either refer you to an agent with another company or operate as a "dual agent".

4) Will you want me to allow you to be a "dual agent"?

Be particularly cautious of the language used in any "Buyer Broker" or "Buyer Agent Agreement". Make sure the small print is explained carefully as it relates to the purchase of "in house" listings. Exclusive Buyer Agents never operate as dual agents. Most traditional brokers will, however. They want both sides of the deal...the "double-dip" so to speak. Dual Agency makes more money for the traditional broker and many of the larger companies rely on Dual Agency as a routine business practice.

5) Dual Agency is legal in California with "informed consent." What does "informed consent" mean and what are the negative aspects of dual agency?

"Informed consent" means that the agent has the legal duty to "fully inform" you of all the negative aspects of Dual Agency. A common practice among traditional agents however, is to "disclose" and not "fully inform"! The dual agent no longer owes you the duties of Undivided Loyalty and Full Disclosure. These are pretty important duties. The dual agent can’t be an advocate for you, can’t negotiate for you, can’t suggest an offering price, and can’t point out potential defects or problems. The dual agent can’t provide you with information about the seller such as motivation for selling, price they paid or how long or how many times the property has been on the market. Yet, the dual agent still wants to be paid the same amount of money that they would get if they fully represented you!

6) Do you know which client level duties I give up if I use a dual agent?

You give up the right to the duties of Undivided Loyalty and Full Disclosure! As mentioned above, these are two very important duties.

7) Do you think it is in "my" best interests to use a dual agent?

It is not in your best interest to use a dual agent! Attorneys know better and can’t represent both of two opposing parties. Buyers and Sellers have conflicting needs and deserve true, full and independent representation at all times. Dual Agents still expect to get paid the same amount of money as if they were fully representing you. If you allow an agent to be a dual agent than don’t expect to get full service and representation.

8) How are you paid and who pays you?

Exclusive Buyers Agents don’t accept fees from the seller or the seller’s agent. They have the buyer pay the fee and have the Seller give credit at closing for the amount of the fee. Thus, there is no additional cost to using an Exclusive Buyers Agent.

9) Do you have information about For Sale By Owner properties available?

Typically traditional agents will have no such information. In order to show these properties to you they would have to get so called "one party listings". Exclusive Buyers Agents will try to keep information on these properties available for the use of their buyer clients. FSBOs, as they are called, like to work with Exclusive Buyers Agents as they are not seeking a listing and the fee is lower than the fees that traditional agents usually charge.

10) Do you represent only the Buyer as a Buyer’s Agent?

Make sure that is all that they do. Traditional agents typically have the Seller’s interest as their prime concern. Exclusive Buyers Agents cannot represent any interests of Sellers.

11) What percentage of your business involves being a Buyer’s Agent vs. being a Seller’s Agent?

The more business done by the agent, and the brokerage, for Sellers the less concern they will have for Buyers.

12) What training have you taken that specifically relates to being a Buyer’s Agent and representing buyers?

Exclusive Buyers Agents have completed courses and seminars on contract law, negotiating, financing, taxation, appraising and training, dealing specifically with the practice of representing buyers.

13) Do you have any specific Buyer’s Agent professional designations?

Exclusive Buyers Agents have completed, or is in the process of completing, an intensive training program offered by various entities such as the Buyer Broker Institute and the National Association of Exclusive Buyers Agents. This is in addition to all of the courses required by the local Board of Realtors, The California Association of Realtors and the National Association of Realtors.

14) Do you belong to any Real Estate Organizations?

Agents are usually members of either the Palm Springs Board of Realtors or the Desert Area Board of Realtors (formerly the Palm Desert Board of Realtors). Each agent should also belong to the California Association of Realtors and the National Association of Realtors. In addition, an Exclusive Buyers Agent is either a member of, or applying for, membership in NAEBA, The National Association of Exclusive Buyer Agents.

15) Do you use Buyer Agency Agreements to insure that I have 100% loyalty from you, 100% of the time?

In order to create a buyer agency relationship under California law a written agreement is required! Without such an agreement the presumption is that the agent represents the Seller. Make sure the agreement is explained to you, in detail. Note particularly any clauses that change the relationship if you should be shown "in house" listings. "Buyers Agents" who don’t use a written agreement are very casual about Buyer Agency and probably don’t have the professional experience, skills or knowledge to properly represent you.

By law, Exclusive Buyers Agents owe these duties to you, the Buyer. Traditional, or dual agents, owe a much lesser duty to Buyers because their loyalty is to the Seller.

17) What if the Seller is offering a bonus or higher fee to the Buyers Agent?

Exclusive Buyers Agents believe there is an inherent conflict in accepting these fees from the seller, or any one else for that matter, for "steering" you to a particular property or service. Thus, any compensation paid by anyone other than you, the Buyer, is collected and paid to you, the Buyer!

18) Will you shop for a mortgage for me?  Is the Lender you recommend in any way affiliated with you or your broker?  Are you or your broker making any profit, directly or indirectly, by my using that lender?

Exclusive Buyers Agents are very aware of mortgage programs, interest rates and closing costs. They interview numerous lending sources on your behalf to "negotiate" the lowest rates and lowest closing costs. They have no affiliation with any bank, mortgage broker or other lender so their only goal is to save you money. They will have you pre-qualified or pre-approved for a mortgage as you start to look for homes and you will be provided with a good faith estimate of your cash requirements for down payment and closing costs from the lender you choose. 

Any fees, incentives, bonuses or any other compensation offered by any lender, directly or indirectly, will be collected by an Exclusive Buyer Agent and paid to you!

19) Will you shop for other services used during the home buying process?

Exclusive Buyers Agent will not only assist you in obtaining the best loan but in getting the best price for fire and liability insurance, escrow services, title insurance and any other necessary services in the home buying process. Exclusive Buyer Agents have no financial relationship with any of these providers. Their only job is to interview, study and recommend those individuals and companies that do the best job at the best price for you, the buyer. Exclusive Buyer Agents feel that the choice of any provider is not theirs, but yours, based upon adequate information such as price and quality.

THEY ARE SPECIALISTS: They only represent buyers. If you had a specific medical problem, you would seek out the services of a specialist rather than working with a general practitioner. So it is with the services of an Exclusive Buyers Agent. They represent buyers only! They never take listings! They never represent sellers! However, they are REALTORS® and members of the MLS (Multiple Listing Service) and thus have access to all other agents' listings, as well as FSBO (For Sale By Owner) properties, HUD and VA foreclosures and other bank owned properties. They will show you the entire market of homes available right from the very beginning. No other Realtor® will do that!

THEY NEVER PRACTICE DUAL AGENCY: Most other agents in the Coachella Valley practice "Dual Agency". Dual Agency is really a form of bait and switch. You become sold on the idea of Buyer Representation and then you are switched to Dual Agency for in-house listings. Remember, you are paying the commissions of both agents because these are included in the price you are offering. Traditionally the seller writes the commission checks, but the buyer brought the money to closing to give to the seller that lets the seller write these checks. You should get full client level, full fiduciary services at all times for your money. You will be "short-changed" in a dual agency situation as well as possibly pay too much and overlook defects or problems. Also, the larger the company the agent is with, the greater the chance that you will want one of their listings and find yourself in a dual agency situation. Because Exclusive Buyer Agents don’t take listings or represent sellers, they can never be dual agents. You will get 100% loyalty, 100% of the time.

THE BUYERS AGENT, BUYERS ONLY REALTY ARE PROFESSIONAL BUYER’S AGENTS: Recently many traditional listing agents have begun calling themselves "Buyer’s Agents". Although this practice is misleading to the consumer, it is legal. No special training or licensing is required to call oneself a "Buyer’s Agent". So, seeing that more and more Buyers like the concept of being represented and therefore look for a Buyer’s Agent, the traditional listing agent says "no problem...I can do that". However, there are big differences between what they "supposedly" do and what we "actually" do.

Traditional agents have very little if any specialized training, knowledge or experience to be a Buyer’s Agent. They are considered to be "casual" Buyer’s Agents. Traditional agents are trained to represent sellers, to market houses and to "SELL" houses to buyers. You become a customer, much the same as you are when you purchase a car. Professionally representing Buyers requires a different mind set. 

If a defensive football player tried to switch and play offense in the middle of a game he would probably not do very well. It requires a different set of skills, knowledge, experience and mind set. It doesn’t work in football and it doesn’t work in real estate either. 

You need the services of a true "professional" Buyer’s Agent. We are the Valley’s best trained and most experienced Exclusive Buyer’s Agents. We have and continue to seek out and complete numerous courses and designation programs specifically directed at representing buyers. We only represent buyers and therefore have more experience than other agents in looking out for the best interest of buyer clients. We never have to switch back and forth between working for buyers and working for sellers. We know who we work for.....We Work For You! Training, Skills, Experience, Specialized Knowledge and Buyer Only Focus.....It all adds up to a better deal for you. We look forward to working "for" you, not just with you.

Thank you for the opportunity to be of service to you. If we can answer any other questions or provide additional information, please feel free to give us a call.

760.320.3110 (office)
(800) 333-2909 from anywhere in the U.S.

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