John McFarland ~ Broker/Owner
Put My 25 Years of Experience to Work for You!
Most Real Estate Buyers don't understand their options: Did you know that there are agents who only work for buyers and never take real estate listings or work for sellers? I'm just such an agent, and we are known as Exlusive Buyer's Brokers or Exclusive Buyer's Agents (licensee's working under a broker). Here's the good news about working with me:
1. Over 30 years of combined real estate experience.
2. Working directly with me and not just any agent.
3. Providing unbiased access to all MLS Listings.
4. Delivering daily just listed e-mail updates.
5. Finding you the best home at the best price.
6. Never a conflict of interest between you and a seller.
7. NO COST for services to purchase a home listed in MLS.
From the National Association of Realtors® on Exclusive Buyer's Brokers: Their publication "Agency: Choices, Challenges, and Opportunities (Agent's Guide)" states "The practice of representing only buyers and never sellers in a transaction. The company never lists a seller's property and thus never has a seller as a client."
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Prescott Area Association of Realtors®, Inc: A Multiple Listing Service (MLS) is a means by which authorized Participants make blanket unilateral offers of compensation to other Participants (acting as subagents, buyer agents, or in other agency or non-agency capacities defined by law).
From the State of Arizona Real Estate Department: Be aware that the seller's broker does not represent you; the seller's broker represents the seller. The seller's broker has certain responsibilities to the seller that are not afforded to you. You might wish to retain the services of a buyer's broker to represent you in the transaction. Usually, the buyer's broker receives a portion of the commission paid by the seller, and the services may cost you nothing, but you will receive representation equal to that provided to the seller by the seller's broker.
Exerpt from the REAL ESTATE AGENCY DISCLOSURE AND ELECTION Form:
Before a Seller/Landlord ("Seller") or a Buyer/Tenant ("Buyer") enters into a discussion with a real estate broker or licensee affiliated with a broker, the Seller and the Buyer should understand what type of agency relationship or representation they will have with the broker in the transaction.
I. Buyer's Broker: A broker other than the Seller's broker can agree with the Buyer to act as the broker for the Buyer. In these situations, the Buyer's broker is not representing the Seller, even if the Buyer's broker is receiving compensation for services rendered, either in full or in part, from the Seller or through the Seller's broker:
a) A Buyer's broker has the fiduciary duties of loyalty, obedience, disclosure, confidentiality, and accounting in dealings with the Buyer.
b) Other potential Buyers represented by broker may consider, make offers on, or acquire an interest in the same or similar properties as Buyer is seeking.
Ralph Nader: "Home buyers can not always receive true buyer agency representation when the selected real estate firm accepts listings. In most real estate firms throughout the United States, you will always be confronted with the possibility of dual agency unless using the services of an Exclusive Buyer Agent".
American Association of Retired Persons (AARP): "Buyer Brokers will better represent the interests of buyers than will sub-agents. They are more likely, for example, to negotiate a lower sales price on a house."
Business Week Magazine: "To protect themselves buyers can retain their own exclusive representative, called a buyer broker...Your local agent may offer such services, but be aware that buyer's brokers who also work as seller's brokers can sometimes end up on both sides of the deal."
Good Housekeeping: "Many people don't realize that, unless specifically stated otherwise, brokers are legal representatives of sellers. A buyer broker, representing only the buyer, may be able to secure a better price and better terms."
Kiplinger's Changing Times: "Exclusive agencies are the best. They remove any conflict of interest, which is the main reason for considering a buyer broker in the first place."
Money Magazine: "Unlike the traditional agent who looks out for the seller, a buyer's broker acts as your advocate, helping you find the home you want and then negotiating the lowest possible price. The best buyer's brokers are so-called exclusive agents - that is they represent only buyers, never sellers, and thus are not tempted to push a house on which they stand to earn a commission."
New York Times: "Confusion often arises because many buyers believe that the agent who shows them houses works on their behalf. In fact, subagents of the listing broker - often they are agents who work for another office - also act on behalf of the seller."
U.S. News & World Report: "Buyer brokers: agents that buyers can call their own...If your real estate agent isn't a buyer broker, he works for the seller...Buyers no long have to fend for themselves."