Philadelphia Real Estate Agents - Are Not Practicing Exclusive Buyers Agency

By Author: Mr projects
Total Articles: 80
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Would you choose your agent because their face was on your grocery cart? Philadelphia real estate agents would like you to do just that.

Recently, a consumer website posted an article about why homebuyers should use an exclusive buyer’s agent. Philadelphia real estate agents have not jumped on the bandwagon as the consumer groups have. What did the article conclude?

Top 10 Reasons for Using a Buyer's Agent

Based on feedback from real estate professionals actively working around the country, including Philadelphia real estate agents, the most important and beneficial reasons for hiring a buyer's agent are:

It's free
It makes the home search and buying process much more convenient
Market knowledge
Professional negotiation
Professional connections
Insider knowledge
Access to Comps/Sales Info
Help identifying your needs
Buyer agent is a mitigator of emotions
Knowledge of industry standards, legalities, and writing a contract

“If a buyer can't find an exclusive buyer's agent in their ...
... area, they should seek a single agency licensee who is an Accredited Buyer's Representative (ABR) or an ABR with a small dual agency brokerage to minimize the chance of dual agency,” concluded the Homes.org article.

So why aren’t Philadelphia real estate agents interested in this approach?
First of all, the industry is not unlike certain others (insurance comes to mind) in its inability to embrace change. I often hear “This is the way we have always done it” as an excuse for a poorly thought out procedure or policy.

Secondly, listing agents make double commission if they can entice a buyer to use them to make an offer to their seller. Unlike an increasing number of states, Pennsylvania allows the listing agent to also represent the buyer. The duty to both sides is reduced in this event. Getting paid twice as much for half the responsibility? Why would Philadelphia real estate agents give that up?
All agents, not just Philadelphia real estate agents, need to push for more of a focus on the buyer’s side of the transaction. To date, the laws, the forms and the big company policies all are heavily weighted towards the seller’s side. The consumer groups like Homes.org are making efforts in this regard and should be applauded.
Learn more about how one of the few Philadelphia Real Estate Agents who practice exclusive buyer agency can help you, by contacting Linda Walters at Sage Realty 37 West Avenue, Suite 103, Wayne, PA 19087, LindaWalters@FindAHomeInPA.com , by calling 610-687-4000 or by visiting FindAHomeinPA.com .