What is a Buyer's Agency Agreement?
I posted an article on my Facebook business page today “Why Should You Sign With a Buyer’s Real Estate Agent?” But I want to explain what exactly a Buyer Agency Agreement is – simply an agreement. You are agreeing to “hire” a real estate agent who by law must represent your best interests as a buyer to the best of his/her ability. Your professional buyer agent will understand your real estate wants, needs, and concerns at absolutely NO cost to you. The seller’s agent is responsible for paying your buyer’s agent fee.
A professional agent is devoted to protecting your needs and being by your side throughout the whole process. Licensed real estate professionals provide more than the service of helping you find your ideal home. Realtors® are neighborhood experts, know the housing market inside and out, and are experienced with negotiating. Realtors® are members of the National Association of Realtors (NAR) and must abide by a Code of Ethics and Standards of Practice enforced by NAR. A professional Realtor® is your best resource when buying a home.
UNDERSTANDING AGENCY - WHO WORKS FOR WHO?
SELLER AGENCY (SINGLE AGENCY)
Agent will represent the best interests of the seller
Agent will owe the seller fiduciary duties
Agent must give the seller all material facts, so the seller can make an educated decision.
BUYER AGENCY (SINGLE AGENCY)
Agent will represent the best interests of the buyer
Agent will owe the buyer fiduciary duties
Agent must give the buyer all material facts, so the buyer can make an educated decision.
The process can involve several questions and concerns. I'm here to help - contact me at any time.