Have you signed a buyer-broker agreement? Do you even KNOW what a buyer-broker agreement is?

“As your Designated Agent, I have been assigned by my Managing Broker as your one and only agent in your purchase transaction, to the exclusion of all other licensees in my company. Even if someone else in my company represents a seller in whose property you are interested, I, as your Designated Agent, will continue to work as an advocate for your best interests. An agency relationship of this type cannot, by law, be established without a written agency agreement — the Buyer Representation Agreement.”

After our initial meeting, I have explained this to you. This an employment contract between you and I. The agreement outlines what you are entitled to in services from me, and in turn what you should expect from me.

There are 6 standards of my fiduciary duty:

  • Obedience: I have to do what you tell me to do
  • Loyalty: I am loyal to your interests and keep those ahead of mine
  • Disclosure: I will disclose any material defects in the property that I know
  • Confidentiality: I will never divulge anything I learn about you, whether it is business, financial, personal activities, motivations or intentions–unless you give me permission in writing
  • Accounting: I will account for all funds given to me, knowing where earnest money deposit, deposits, and other funds are kept
  • Reasonable care and diligence: My words and actions, will not cause any harm to you

One of the foundations of my business as your Realtor is providing high quality service, I will work long hours, on weekends, holidays, and visiting new construction. I’ll make sure you are connected with contractors, electricians, plumbers, structural engineers, doctors, dentists, hair stylists, school personnel. This is all part of giving you the best service possible.

You will get more from me without paying any more. In mnost instances, the seller pay their listing agent, and they pay the cooperating agent for selling their home. In certain instances, the seller may not be willing to pay the commission, we will come to an agreement of what my compensation will be.

I will explain each part of the buyer agreement:

  • The parties of the agreement
  • Property information
  • Price range
  • Types of property
  • Commencement and expiration dates of agreement
  • Broker authorization
  • Broker and agency information
  • any stipulations

This agreement is based on mutual consent, you are not bound to sign the agreement, just as I am not bound to work with you should you choose not to sign the agreement.

Lastly, you must understand we are forming a partnership. We are partners in looking for your next home of for selling your home.A partnership creates mutual respect, trust and most importantly–LOYALTY.

So, you see there is a lot that goes into entering an agreement with a Realtor.


Leave a Reply

%d bloggers like this: