Exclusive
Buyers Broker Agreement
WHY
YOU SHOULD SIGN BUYER AGENCY AGREEMENT?
Do
I need to sign something?
No, but it is certainly in your best interest. It's
your guarantee that your agent will always have your
best interest in mind. In past decades, the focus
of real estate transactions have always benefited
the Seller. Times are changing
- and Buyers
are now demanding the same representation and fiduciary
duty as the Seller receives.
What
is the role of the real estate agent?
All registered brokers and salespersons are required
to adhere to a Code of Ethics. The rules of the Code
of Ethics define the conduct expected of them and
the principles upon which they must do business. An
agent is legally obligated to look after the best
interests of the person for whom he or she is working.
What
is Agency Disclosure?
At the earliest practical opportunity, the real estate
agent must fully disclose in writing the role and
nature of the service that he or she will be providing
to the buyer. The signing of the Agency Disclosure
does not constitute a Buyer Agency Agreement. It is
simply a written acknowledgment between the parties
that everyone knows who is working for whom and what
can or cannot be discussed. The Disclosure Form identifies
whether the agent is representing the Buyer or the
Seller.
What
is Buyer Agency?
Buyer Agency is a contractual relationship with a
real estate agent created by by of a Buyer
Broker Agreement, in which that agent gives
their fiduciary trust to represent the best interest
of the buyer in a real estate transaction. It goes
hand-in-hand with my Personal
Performance Guarantee.
How
does Buyer Agency affect me?
Never disclose information about your motivation,
financial capacity, time constraints, or anything
else that may be used to the sellers advantage to
any real estate person unless you have a signed or
intend to sign a Buyer Agency Agreement with that
agent to have them represent you as a Buyer Agent.
The signed agreement is for your protection.
I
don't want to sign anything!
That's fine - it's your perogative. My goal is to
give you 110% of my best effort, and just like any
other professional, I need to be paid for my time.
I'm sure YOU don't work for free- and neither do I.
Basically, my Buyer
Broker Agreement confirms in writing that
my time spent with you will not be wasted. I have
spent too many days being a taxi driver for people
only to have them buy from either another agent or
directly from the Seller.
Bottom
line: Every party to a transaction must know
who is representing whom and it must be in writing.
If I help you purchase a property - I've earned my
commission, period.
Can
you save money by buying a FSBO (For Sale By Owner)?
In most cases, no. Many FSBO's are trying to sell
privately because agents may have refused to take
an over-priced listing, or in some cases, there are
hidden defects in the home that would have to be disclosed
in the listing agreement forms.
