ELI5: Explain Like I'm 5

Exclusive buyer agent

Hi there,

An exclusive buyer agent is a special kind of real estate agent who works only for people who want to buy a house or property. This means they work on behalf of the buyer and do not represent the seller.

Imagine that you are looking for a new toy, but you don't know where to start. You ask your mom to help you find it. She goes to the toy store and talks to the store clerk who shows her some of the toys they have. The store clerk can tell your mom about the toys' features and how much they cost, but the clerk works for the store and has an interest in making a sale.

Now imagine that instead of going to the toy store, your mom hires an exclusive buyer agent to find the toy for you. The agent would search different stores, compare prices and features, and give you and your mom lots of options to choose from. They would represent your interests only and make sure that you get the best toy for your needs and budget.

Just like your mom might pay the agent a fee for their services, homebuyers usually pay an exclusive buyer agent a commission to help them find and purchase a house. This way, the agent is motivated to work hard for the buyer and help them get the best deal possible.

In summary, exclusive buyer agents are like special helpers who work for homebuyers only and make sure they find the perfect home. They are different from regular real estate agents who may represent both buyers and sellers and may have a conflict of interest.