Exclusive home buyer representation movement gaining momentum.

DENVER--(BUSINESS WIRE)--Nov. 7, 1994--The continuing growth of Buyer's Resource Real Estate (BRRE), the nation's oldest and largest provider of exclusive home buyer representation services, indicates the company and its pro-consumer approach to residential real estate practice are here to stay.

BRRE, with offices in 25 states, recently sold a master franchise for the New England area, including the states of Massachusetts, New Hampshire, Vermont and Rhode Island. Master franchises purchase rights to market BRRE's services and sell additional franchises within a geographic region. A master franchise was sold last year for the state of Florida.

"Our company simply provides a service to home buyers that previously was unavailable to them," said Richard Hogue, president of Buyer's Resource. Hogue formerly served for 18 years with Century 21, the real estate industry's largest franchisor, where he directed that company's franchise sales operations in the United States and 10 foreign countries.

"We are successful today and will be for a long time to come because we know when home buyers truly understand their agency choices, they will choose to work with an exclusive buyer agency that takes no listings and whose energies and resources are focused 100 percent on the best interest of the buyer," Hogue said. "Our brokers and their agents are trained to get the best price, terms and conditions for home buyers regardless of any situation which may arise. Exclusive buyer brokers and their agents are legally bound to do that. The others are not.

"Exclusive buyer brokerage is the residential real estate revolution of the 90s and the 21st century. The services we provide to home buyers are new to them whether they know it or not. Traditional real estate practice is seller oriented where brokers and agents, because they accept listings, are legally bound to work for sellers."

The traditional real estate industry vigorously resisted buyer brokerage. In some areas of the country, buyer brokers were denied use of the Multiple Listing Service (MLS) systems. This is no longer allowed. However, many seller-oriented brokers now pretend to be exclusive buyer brokers to take advantage of growing consumer demand, but these brokers still practice traditional agency. They have "buyer" agents that work with buyers, but those same agents and their brokers also work with sellers. They claim, depending on whether it is a buyer or seller they are speaking with, to specialize in buyer agency or seller agency, but nearly all of their training and the office they work in are geared to sellers because they and their brokers accept listings and are legally bound to get the best deal for sellers.

"Buyer's Resource is the real thing," Hogue said. "All of our financial and human resources are invested in representing the best interests of buyers. This is possible simply because our brokers and agents do not accept listings. For the first time in the history of the real estate industry, home buyers now can demand and receive equal representation."

When asked if working with a buyer agent, who at times also represents sellers, is just as good as working with a Buyer's Resource agent, Hogue responds with a question of his own. "If you had a serious heart problem and were in need of surgery, would you want a surgeon who had performed a few heart operations but whose specialty was brain surgery or would you want a surgeon who only performed heart surgery?"

When buying a home, people are involved in what most likely will be the single largest investment they will ever make. Should those people work with a broker or agent that knows a little bit about buyer representation or should they work with a broker who specializes in home buyer representation and is legally bound to negotiate for the buyer to get the best price, terms and conditions?

Buyer's Resource Real Estate is the nation's leading provider of exclusive buyer brokerage services through its network of independently owned and operated franchised offices.

Buyer's Resource, headquartered in Denver, Colo., was founded in 1989 and has awarded 90 franchise licenses across the country. For more information on exclusive buyer brokerage or to be placed free of charge with an exclusive buyer broker in the area to which you plan to move, call Buyer's Resource Real Estate at 1-800-359-4092.

CONTACT: Angle Communications, Denver

Gregg Stucker, [phone]