The Ummel Verdict Is In - Buyers Need to be Careful in Choosing Their 'Buyer Agent'

The Ummel Verdict Is In - Buyers Need to be Careful in Choosing Their 'Buyer
Agent'

AVONDALE, Ariz., April 17 /PRNewswire-USNewswire/ -- The verdict is in and a
California jury has decided that a real estate agent did not violate the law
by failing to disclose to his buyer client information about comparable homes
on their same street that were selling for substantially less money. In a
case of first impression, Marty Ummel attracted national attention when she
sued her buyer agent and his company, for allegedly duping her and her husband
into overpaying for a $1.2 million home.

"Not disclosing comparable market data to a buyer client may not have been
perceived as a violation of law by this jury, however it would certainly
violate the Code of Ethics of our association," stated Barry Nystedt, the
President of the National Association of Exclusive Buyer Agents (NAEBA). "Real
Estate practitioners in traditional real estate firms that usually represent
sellers may not have the commitment and skill to fully protect the financial
interests of the home buyer. Home buyers would be smart to hire an agent from
a firm that specializes in representing only home buyers and subscribes to a
higher standard of performance," Nystedt added.

The organization of exclusive buyer agents recommends that home buyers sign a
contract with their buyer agent which requires the agent to provide sales
information on comparable properties as well as defining the agent's other
obligations. "We at the National Association of Exclusive Buyer Agents hope
that this will be a reminder that not all buyer agents are the same.
Consumers need to understand their service options, in this case the Ummels
may have paid dearly for their choice in not seeking out an Exclusive Buyer's
Agent, one who's firm only represents buyers," concluded Nystedt.

For additional information on NAEBA, contact the headquarters at 888-NAEBA99
or visit naeba.org.

ABOUT THE NATIONAL ASSOCIATION OF EXCLUSIVE BUYER AGENTS (NAEBA) -- NAEBA was
founded in 1995. Traditionally, representation in real estate transactions
favored the seller, but starting in the mid-1990s, buyers began seeking true
representation from an Exclusive Buyer Agent; someone who worked for their
interests exclusively. As Exclusive Buyer Agency spread, NAEBA was formed to
support Exclusive Buyer Agents in serving clients to the best of their
ability. With industry certification, ongoing education, client referral
service, technology and information sharing, NAEBA and its members have
quickly become the benchmark for Exclusive Buyer Agency and a resource for
home buyers.

www.naeba.org

SOURCE National Association of Exclusive Buyer Agents

Jon Boyd of National Association of Exclusive Buyer Agents, +1-800-786-1570,
Fax: +1-888-623-2211, jon@buyersagentannarbor.com