What is a Buyer's Broker?

It's come to my attention that many people still do not know what a buyer's broker or buyer's agent is. The simplest definition is a real estate broker or agent that works specifically for buyers. A true buyer's broker will be one that never takes listings and is known as an "exclusive buyer's broker or agent". It can be difficult to find such a real estate agent since most real estate agents work with both buyers and sellers often on the same transaction. This leads to an inherent conflict of interest since buyers and sellers generally have opposing interests. Sellers wish to sell their home at the highest possible price and buyers wish to pay the lowest possible price for that same home. See the conflict created? In order to minimize conflicts it was decided that both buyers and sellers had the right to equal representation which meant undivided loyalty from their respective real estate agents. The problem for buyers has always been that there is a shortage of exclusive buyer's brokers out in the marketplace. As a buyer you really need to do your homework in order to find a buyer's broker or agent that can work in the geographic area you are looking to purchase in. A good place to start your search is through the National Association of Exclusive Buyer's Agents otherwise known as NAEBA. Their website can be found at www.naeba.org Good luck and happy hunting!