NAEBA President Lora Cusumano Addresses Homebuyers Amidst Industry Changes Following NAR Settlement

In a video statement, Cusumano emphasizes the importance of understanding how real estate transactions are evolving, particularly regarding agent compensation.

MESA, AZ, UNITED STATES, August 27, 2024 /EINPresswire.com/ -- As the real estate industry undergoes significant changes following the recent Burnett/Sitzer settlement involving the National Association of Realtors (NAR) on August 17th, 2024, Lora Cusumano, President of the nonprofit National Association of Exclusive Buyer Agents (NAEBA), offers clarity and assurance to homebuyers navigating these choppy waters, letting them know that this new era is good for home-buying consumers. The practice changes increase transparency in a seller-centric industry.

In a video statement, Cusumano emphasizes the importance of understanding how real estate transactions are evolving, particularly regarding agent compensation.

“The home-buying process can seem a bit daunting, especially with the recent changes in how compensation works for your buyer’s agent,” Cusumano explains. She highlights a growing concern among buyers: the misconception that they might save money by going directly to the listing agent. However, Cusumano warns, “If you work with a listing agent, they are required to represent the seller’s best interests, not yours. This also applies to any agent from the same office, a situation known as dual or designated agency.”

NAEBA strongly advises against dual and designated agency due to inherent conflicts of interest.

“Listing agents and their colleagues are focused on getting the best deal for the seller,” Cusumano cautions . “When you work with an Exclusive Buyer Agent, like NAEBA members, you get someone who is dedicated to representing only your interests—no conflicts, no divided loyalties, just complete dedication to you, the buyer. We are consumer advocates for home buyers.” Cusumano reassures homebuyers that while the broader real estate industry may be adjusting to these changes, NAEBA has been a steadfast advocate for exclusive buyer agency for almost 30 years. “Our approach has always been transparent, with clear buyer agent agreements that ensure there’s no confusion about who we represent or how we are compensated. We are not your typical agents; we focus solely on helping buyers, using our expertise to get you, the home buyer, the best deal possible.”

NAEBA’s mission is to promote true exclusive buyer agency through education and advocacy, protecting real estate consumers from unethical and potentially damaging practices.

“Our members adhere to the highest level of professional standards in the industry, following NAEBA’s strict Standards of Practice and Code of Ethics—standards that go above and beyond what’s required by NAR,” Cusumano adds.

For homebuyers looking for unwavering support throughout their home-buying journey, Cusumano emphasizes the value of partnering with a NAEBA member. “When you choose a NAEBA member, you’re not just hiring a real estate agent; you’re partnering with someone who will be with you every step of the way. From making offers to evaluating properties, handling paperwork, and negotiating on your behalf, our members are here to make your home-buying journey smooth and stress-free.”

Cusumano encourages consumers to explore NAEBA’s website, listen to their podcasts, and attend home-buying webinars to better understand the benefits of exclusive buyer agency.

“When you see the NAEBA logo on our members’ websites, think of it as a guarantee of our unwavering loyalty to you, the buyer. It’s a promise that our fiduciary relationship with you, our buyer clients, will never change,” she asserts.

As the home-buying landscape continues to evolve, Cusumano’s and NAEBA’s message is clear: “Use an Exclusive Buyer Agent, a brokerage that never takes listings. Only we can guarantee that our loyalty is always, and only, to you.”

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What you need to know about buyer agent agreements.