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.

If a buyer agent negotiates a lower price for a home, it reduces the amount of the buyer agent's commission, so what motive does a buyer agent have to get the buyer a lower price?

Good question. Let's answer it in a round about way that better explains the mindset of an exclusive buyer agent. First, after the commission split, a difference of $10,000 or $20,000 in the price is not going to amount to that much less in commission -- maybe a couple of hundred dollars. But even if it's $300 or $400, it doesn't matter. It's worth it. I want that reputation -- an agent who wants to get the buyer a lower price on the home so I can lose commission money. Crazy, but true.

An exclusive buyer gets business by doing a good job protecting the buyers' interests and doing what he/she says he/she is going to do, including saving money -- word of mouth is the best form of advertising -- so consider that $200, or whatever amount, as advertising costs. If a satisfied buyer refers just one buyer in the future, which most of them do, I consider losing that $200 or so a good investment. The more I lose, the better satisfied is the buyer and the more likely I'll get referrals in the future. That's cheap advertising, because, I don't know about other area, but here in Savannah Ga, magazines and such stick it to agents. I feel like I've saved money and invested it well.

An exclusive buyer agent has to have a mindset that focuses on saving the buyer time, money and hassle. Listing agents get awards based on the dollar amount of their sales based on the total of the prices of the homes they sell. When I first started as an exclusive buyer agent, our company gave awards based on the total amount of dollars we saved buyers in the transaction. My last year with that company I got the highest award by saving buyers more money than anyone else in the company.

It's a different mindset -- it has to be, to be good at it.

Over a decade ago, now, it became apparent that buyers were at a disadvantage because they had to depend on the agent representing the seller, so some agents started offering buyer agent services to represent the buyers. Exclusive buyer agents work only with buyers and do not take listings, so there is never a conflict of interest.

The listing agent, when they put a home on the market for sale, offer to split their commision with any agent who brings a buyer, so when a buyer has buyer agent representation, the buyer doesn't have to pay out an extra amount to pay for the agent's services.

When I represent a buyer, I look for the homes that meet the buyer's criteria and then when we go out looking at homes, I look at each home from the eyes of the buyer -- what repairs does it need? Is it overpriced? How will it do when it's time to sell the home? What is the area like and what kind of changes are happening in the area that could affect home prices?

This is part of the value of having a buyer agent -- you have someone who knows the area and the market and is on your side. Plus, you develope a trusting relationship with the buyer agent and it's a more pleasant experience not having to talk with numerous listing agents who are trying to sell you on their listing.

In the next couple of days I will answer the most common questions asked about buyer agency.

I have discovered that my real love lies with buyer agency, so, in order to remove all conflicts of interest, I will offer only buyer agency. I will be the only company I know of in Savannah, Ga that offers exclusive buyer agent services. I will be concentrating mainly on the information aspect of real estate transactions for first time buyers and out-of-town buyers who need good, objective information in order to make informed buying decisions.

I've always believed that buyers need representation and that exclusive buyer agents are the way to go. My experimentation with listings was valuable, but I will now concentrate full-time on buyer agency, consultation, investments and information processing necessary to navigate a sometimes confusing real estate market.

Good representation and good information, and having an agent who will represent you through the whole buying experience, is more valuable now than ever.

I will follow this post, over the next few days, with a series of posts decribing, in full, what exclusive buyer agency entails.

The Unbelievable Prestige of Savannah, GA Real Estate

November 2, 2009 on 10:00 am | In Real Estate |

There are two sides to the beautiful city of Savannah. Life in Savannah is young and stylish, but the citys old Southern custom ensures that it shall always continue to sustain its tranquillity. Savannah, this modest city that welcomes the entire world, gets its name from the Native American word for grassy plain. Savannah has come a very long way from its basic existence as the quiet plain.

Living up to the accurate reputation of being known as the hostess city of the South, Savannah, GA. treats both residents and travellers to magical squares, beautiful gardens, culture, a large variety of entertainment, and tasty food. The city of Savannah embodies the southern belle: beautiful, kind, spirited and majestic.

The twenty-four squares which are neatly settled all throughout the historic metropolitan area constitute the spirit of the downtown area. General James Ogelthorpe , between creating the colony of Georgia, fighting off the Spanish threat and working toward peaceful cohabitation with the Creek Indians, is to be credited with laying the city plan for Savannah, much of which remains intact today. These well-known squares form the cultural, historical and literal heart of the city. The many activities that help make Savannah great spread outward from there. Each separate square speaks of local and world history, having survived the Revolutionary and Civil Wars.

Art and culture are discovered on every single corner of Savannahs streets, every season of the year. Savannahs Music Festival in March and the Jazz Festival in September fill each air with cool melodies. African Americans, Greeks, Irish, Scots and Asians, among others, share their legacy with celebrations spread out during different weeks of the year. Meanwhile, students of the Savannah College of Art and Design charm the visitors when they bring the sidewalks of Forsyth Park to life during the Sidewalk Art Festival. Savannahs indoor cultural scene is packed with over eighty art galleries, museums, and theaters.

The edges of Savannah offer the comfort of a small town for families who prefer privacy and space, while the city center offers a metro feel with three universities , whose large international student body gives Savannah a cosmopolitan and trendy edge, great shopping, and a nightlife that seems to start and bubble out from CityMarket.

Those who live in Savannah spend their free time the way many people spend vacation time — gentle temperatures allow for for various outdoor activities, beaches nearby, plenty of golf courses, and the occasional blues bar. . Even the public transport system is stress-free. The Chatham Area Transit (CAT) operates an efficient system of buses, trolleys, and a ferry for those crossing the Savannah River.

Its no surprise that Savannah is regularly listed as one of North Americas 10 most beautiful cities. Savannahs appeal stretches out to a extremely prominent variety of tastes. These diverse interests and lifestyles coexist in a complimentary way, which serves to contribute to Savannahs growth. Artists contribute its culture, small businesses welcome tourists and thrive as a result, and big industry drives the economy forward. Thus, this humble city, with her large city mentality, knows how to get the worlds attention without even breaking a sweat.

About the author:
Dave Cloud is a independent internet author and historian. He has savored the sights and sounds of Savannah for over 35 years. He often recommends is: http://www.greatersavannah.comfor Savannah, Georgia Real Estate.

As I suggested in my previous post, it appears buyers are buying the inventory which has been sitting on the market. Prices have fallen to a level where we're seeing an increase in existing home sales. Savannah Ga is experiencing an increase in existing home sales from all indications - I will try to put some statistics together in the next few days.

It's my belief the turn around in housing will be slow, but the best deals will go first. It shouldn't be too long before we see new home construction slowly recovering. This will create more jobs and more home sales, but it won't be overnight.

Be careful when you start looking for a home -- the trends have changed somewhat, and neighborhoods that seemed to be taking off before might not do so well as we get back to an active market -- a lot of it depends on if the development around these areas is completed as planned a few years ago. Call me for free consultation.

We are quickly getting to the point where prices have adjusted and buyers are buying homes for the right reasons -- to live in them and be able to make the payments.

I'll go out on a limb and say that the housing industry is hitting the bottom. People are buying the glut of houses, slowly, and I predict a rebound this year -- a slow rebound. However, if you're looking for a deal, it's my opinion that now is the time to get a good deal. Actually, if you made a deal two months ago, that was probably the best time. In Savannah Ga., it's highly unlikely that prices will fall 10%, yet I have worked with buyers who a month ago bought homes for 15% to 17% below the market value based on sells within the last four months before the transaction. This means they did well -- if i'm correct.

We'll know in about 6 months if I'm right or not. However, Trump agrees with me.

If you are unfamiliar with buyer agency, email me -- Mike@MikeFarmerRealty.com -- for a lengthy explanation and I will be glad, at no cost or obligation, to explain all the benefits. Not only will I work to give you the best information, I'll work with you as long as necessary to find the best deal -- and in Savannah, Ga. there are some good real estate deals. I just happen to think I'm the best buyer agent in Savannah, but I might be biased since I've known myself for so long -- but, seriously, I recommend me highly.