The difference is that an exclusive buyer agent works only with buyers and doesn't take listings. Many agents take listings and work with sellers, but they also work with buyers as a buyer agent. The problem with doing both is that there might be a conflict of interest when the buyer is interested in one of the agent's listings, or even a listing that the agent's company has. Then the agent finds herself representing both the seller and the buyer -- this is called dual agency and although it's lawful with full disclosure to both parties, it's difficult for the agent to serve two masters.

The exclusive buyer agent avoids this conflict by never taking listings.

An exclusive buyer agent can devote all of his/her time and energy and expertise representing buyers and becoming good at doing one thing.