Why should you consider signing a Buyer Representation AgreementBuyers Resources
In today’s world, when it comes to buying real estate, there are many avenues to follow. It may appear that by searching properties on the internet you can find your dream home without an agent’s assistance. That can be a very frustrating and time consuming search. At some point it is most likely you will need a real estate agent to help you find and negotiate the terms of purchase for that dream home.
A real estate agent’s job is to assist you in your search, with the many valuable tools that they have at hand which are not always available to you. They can even set you up with a subscription to have homes for sale sent directly to your email – in areas such a Collingwood and Thornbury. Their expertise is to use those tools to direct you to the home that fits your needs & saving you valuable time.
Imagine that after all of their work on your behalf, you explore other avenues and, after their effort, you leave them and go elsewhere in your search. That can be a frustrating experience for a real estate agent who has dedicated much time and effort in assisting you.
With that, your REALTOR® will not likely do the work that you need them to do unless you agree to make a commitment with them that will encourage them to work their hardest on your behalf.
This is why a Buyer Representation Agreement is a valuable tool for you to use to get the most from your REALTOR®.
This agreement is an important step in ensuring a good relationship between you and your real estate agent. It confirms the relationship that you have with them.
It sets out the type of property you are buying, lists the services to be provided, addresses the commissions that will be payable to the REALTOR®, and it also defines the duration of this agreement.
Here are 5 reasons to consider a Buyer Representation Agreement
- It defines in writing the relationship that you have with your real estate agent and identifies the expectations of both parties, including commissions and obligations. It also offers you an opportunity to detail exactly what you are looking for in your search and helps to avoid having to review the many properties that are not suitable for your needs.
- It also establishes the special responsibilities that you expect from your real estate agent in regards to your instructions and it protects your confidential information to protect your best interests.
- It gives you the opportunity to identify the expectations you have of your agent. So that there are no misunderstandings as you proceed, it is important to list all of your expectations in writing and to identify what obligations you expect from them. It also sets out what your obligations are to your REALTOR® and what the terms of engagement are in the partnership.
- It ensures that your REALTOR® fulfills their duties, such as disclosing all property information and offering you diligent and attentive service.
- It offers you peace of mind that your best interests will be protected.
Finally a Buyer Representation Agreement is a flexible contract that allows you to specify the length of the agreement and does not commit you to making a purchase. It protects and benefits you to sign it in the beginning – before you start working with a REALTOR® to help you find that perfect home in Collingwood or Thornbury.