You may have heard of them. The National Association of Exclusive Buyer Agents known as NAEBA is an organization that brings together buyer-exclusive real estate agents. Since its establishment in 1995, it has been playing a significant and game-changing role on the real estate market. The reason of it’s importance is as clear as day: it’s mainly its buyer-oriented exclusiveness that has put an end to many kinds of shady businesses. Dishonest towards the buyer, in most of the cases.
Ever since then its popularity grew, and NAEBA has become the leading force in providing buyer exclusive agent services for home buyers. Compared to other real estate agencies whose hands are not as strictly tied by the rules, NAEBA does all it can to ensure that the services delivered by its members will be one hundred percent in the buyers’ favor. As much is more than clear from their set of rules that each member must abide.
Earlier this month, NAEBA announced a revised and sharpened Code of Ethics and Standards for its members. It is considered to be the strictest set of rules in the real estate industry.
The key point that the Code of Ethics states is that “a NAEBA member shall provide undivided loyalty to a Buyer-Client and not advance the interests of sellers, themselves, or their real estate company above the interests of the Buyer-Client.”. Below are a few other points that have caught my eye:
– A member shall not knowingly direct a Buyer-Client to any service which is less than what is in the best interest of the client.
– A member shall not accept any compensation, commissions, bonuses, gifts or profit resulting from the transaction not disclosed to his/her Buyer-Client.
– A member must relate everything material he/she knows about the seller and/or property to a Buyer-Client.