Home Buyers Relocation’s Weblog

With increasing frequency, the popular news media are talking about “Exclusive Buyer Representation.     The first 5 below have been published in recent months.

There’s also been an interview recently with NAEBA’s president, on Good Morning America.  We should be supplied with a clip of that soon.

But the most recent one indorsement, a very open recommendation from HUD, follows.  Please review it.  Most of us are astonished that HUD first of all knows the difference, but also has the courage to publish it, knowing many main-line realtors will be reading. 

 Applause from Informed Observers: Regularly, there are comments from informed observers in the consumer press that laud the concept of exclusive buyer representation.  Recently, articles have appeared in these publications lauding the exclusive brand of buyer representation:              Smart Money - Newsweek  - USA Today  -  US News & World Report, and Kiplinger’s And….

But in a brand new HUD brochure on “Shopping for your Home Loan”, this text is quoted:

US Department of Housing and Urban Development Releases Latest Version of Shopping for your Home Loan
HUD Booklet advises buyers to search for an agent who will represent their interests in real estate transaction
 
AVONDALE, AZ January 01, 2010 – In its first revision in over 10 years, the US Department of Housing and Urban Development (HUD) advises home buyers that it is their responsibility to search for a real estate agent that will represent their interests. In Shopping for Your Home Loan - HUD’s Settlement Cost Booklet, HUD states: “If you want someone to represent only your interests, consider hiring an ‘exclusive buyer’s agent,’ who will be working for you.”
 
The National Association of Exclusive Buyers Agents (NAEBA) views this as an important element of the new era of home buying.             (Merrill has had a prominent role in the National Association of Exclusive Buyer Agents.  He was a charter member, its first Treasurer and its fourth President…more under “scrapbook”.)