It is one thing to be required to 'disclose' the possibilities for agency relationships with consumers at the first point of significant contact, but it is quite another to market to them using ads intended to deceive.
Seller's Agent
Buyer's Agent
Dual Agent
Seems simple and it is BUT:
When a brokerage firm, through an agent of that firm, advertises itself (or an individual agent working for them) as a 'buyer's agent', they had better be able to deliver what they advertise.
Can they? In many cases, even they don't know whether they can or not, and even when they can, they can not be sure that the advertised relationship will continue throughout the buyer's purchase.
There are still relatively few real estate companies that can advertise themselves as 'buyer's agents' without fear that they will mislead consumers, but there are some. They call themselves EBAs or Exclusive Buyer Agents. Many of them are members of the
National Association of Exclusive Buyer Agents.
If you are buying a home ask the agent of the company to put in writing that they really will stand by you and represent
your interest - not the seller's - and not both, throughout your purchase process.
If they advertised themselves as a buyers agent, they should be willing to guarantee in writing that that is what they will be -- all the way through.
If what you find is the bait of buyer agency then a switch giving them the right to be a dual agent - let the FTC know.
If you have been taken in by a deceptive advertisement you can file a complaint with the FTC here.
https://www.ftccomplaintassistant.gov
You can read about the FTC's rules here:
FTC
You can read more about deceptive advertising and marketing here:
DECEPTIVE ADVERTISING AND MARKETING PRACTICES
Good luck in your home search.
Paul Howard, Broker
Cherry Hill, NJ
NJHomeBuyer.com Realty
856-488-8444
