Thursday, April 26, 2007

A Word to Relocation Companies About Exclusive Buyer Agency

As an Exclusive Buyer Agent, I feel it is my duty to educate the public about the purest form of buyer representation. Here is what I recently sent to Promissor, a relocation company, which claims to value the avoidance of conflicts of interests. They were not clear about whether or not they had Exclusive Buyer Agents among their service providers. However, it needs to be said that in order to ensure that their clients' employees are truly free of conflicts of interest, relocation companies should make certain that their clients' employees are not exposed to the risk of dual agency, which is a conflict of interest.

In essence, relocation companies should stand by the things they claim to value, like avoiding conflicts of interest--or else their claims become only empty promises.

**********Letter Start***********

Hello Mr. Gimpel,

Your web site states the following:

"Consider the advantages of independence - yours and ours. Promisor Relocation is independently owned, meaning we're free from any obligations to affiliated companies and flexible to do what's best for our clients. No conflicts of interest, no hidden agendas. Quality is our only criteria."

However, you should know that if your established resources do not include Exclusive Buyer Agents that you place your clients' employees at risk of dual agency, which is a conflict of interest. I can appreciate that you value the best interests of your clients, and that is why I thought it best to inform you about the transitioning state of the real estate industry. Just to let you know, dual agency happens in one of two ways: (a) when an agent or broker represents buyer and seller, or (b) when two different agents, representing buyer and seller respectively, work for the same real estate company. The real estate company becomes the dual agent.

I am giving you this information, because you will not get the truth from traditional real estate companies. However, since your company web site states that you have a concern for preventing conflicts of interest, I thought you should know this very important information. Good luck!

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