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What's the Difference?
A SA (ordinary seller's agent) can show you all the homes in the MLS (Multiple Listing Service). An EBA (Exclusive Buyer's Agent) will show you all the homes in the MLS, For Sale By Owner properties, foreclosures, even properties that are not on the market!
A SA can tell you the price the sellers are asking for homes but cannot suggest an offering price. An EBA will tell you the price the sellers are asking for homes, will calculate the fair market value of the home for you, and assist you in developing an offering price by using comparable sales data.
A SA can provide you with "raw" information on comparable homes that have sold in the area; but is not allowed to interpret that data for you. An EBA will provide and interpret information on comparable homes that have sold in the area and help you formulate an offering price and negotiating strategy.
A SA can convey your offer to the seller or their agent and convey their response back to you. An EBA will guide you through the entire negotiation process offering advice and information every step of the way.
A SA can provide you with a "list" of title companies, home inspectors and other professionals for you to choose from. An EBA will recommend title companies, inspectors, and other professional services you will need.
A SA can tell you some general information about the seller. An EBA can tell you everything they can find out about the sellers and their motivation for selling.
A SA must tell the seller everything they know about you, your financial status, and your motivation for buying. An EBA will keep any information about you confidential if it would weaken your negotiating position.
A SA "thinks" in Seller's terms (i.e.: Get the highest price possible for the seller's home.) An EBA "thinks" in Buyer's terms (i.e.: Get the lowest possible price and best terms for the Buyer, not the Seller.)
The only agent more dangerous to a buyer than the ordinary agent is an ordinary agent who is trying to act as a Buyers Agent!
The foregoing are the words of Bill Tolle of ExclusiveBuyersAgents.com: Make sure the agent you use to purchase a home has the word Exclusive in his or her designation.