What is a Buyer Agency Agreement and what are the Benefits?

What is a Buyer Agency Agreement and what are the Benefits?

 Entering into a Buyer Agency Agreement (now a requirement issued by RECO - Real Estate Council of Ontario) has countless advantages and no disadvantages.  When you sign a Buyer Agency Agreement, you are simply agreeing to "hire" a personal representative who, by law, must represent your best interests to the best of his/her ability.  All of this personal service is available at absolutely NO COST TO YOU!  With Ty and the Envelope Real Estate's Associates you get an entire team of real estate professionals devoted to protecting your needs to help you make one of the most important investment decisions of your life - and you don't even have to pay a fee!

 You are probably saying to yourself, "this sounds too good to be true!  What's the catch?"  The "catch" is that you are signing a legal document between you and the Buyer Sales Representative that will establish a legal relationship with duties and obligations on the parts of both parties.  Your Representative's obligations are set forth by law, as is your obligation.  Your obligation is merely this:  you agree to let the Envelope Team represent your home buying needs exclusively throughout the duration of the agreement until you find a home and take title.  The duration is a variable you decide.  This is to guarantee that the Buyer Sales Representative receives compensation from the Seller's Agent for the work she/he has been doing for you.  Signing the Buyer Agency Agreement merely means that you agree that your Representative should be compensated for the services in guiding you professionally through the home buying process.

 

Of course, the beauty of the situation for the Buyer is that you don't even have to pay a fee.  If you do buy a home while under a Buyer Agency Agreement, the Buyer Sales Representative named in the agreement must receive commission compensation.  This is established by law to prevent unscrupulous people from taking advantage of the compensation structure of the real estate industry.  You are not paying your Representative's commission; there is no advantage to trying to save money by circumventing the Representative's services.

 

Your Interests are Professionally Represented

Enlisting the services of a professional Buyer Sales Representative is similar to using an accountant to help you with your taxes, a doctor to help you with your health care, or a mechanic to help your with your car.  So the first advantage is obvious.  If you had the time to devote to learning all you need to know about accounting, medicine, and automotive mechanics, you could do these services yourself!  But who has the time.  You probably already have a full-time career to which you are committed.  This is why you allow other professionals to help you in specific areas of expertise.

 

The Envelope Team is devoted to perfecting real estate service.  Continuous education, market research and vast experience are combined with an excellent Team of Professionals to find you the perfect home quickly.  The Envelope Team will guide you through the home buying process and exclusively represent your interests as we help you find a home, present your contract offer, negotiate and close.

 

Just as your accountant, doctor and mechanic get to know your needs through a steady relationship; your Buyer Sales Representative also gets to know your real estate needs and concerns.  This type of relationship is built by open communication at all times and by touring homes with your Representative so they get a good idea of your feedback and concerns.  If you try to jump from Representative to Representative, you will not receive the best real estate service possible and you will be violating your agreement with your Representative.  There is nothing to gain from trying to find and tour homes on your own and you will spend a lot of time when your Representative can tell you everything about any home before you see it.

 

It is always better to make an informed decision to buy something than it is to be sold something.  When you hire a Buyer Sales Representative, your interests are professionally represented, and you have more control and peace of mind than if you are simply sold any home you find.  Buying a home is a big decision.  Let your representative act as your specialist, even if you happen to find the perfect home yourself.  Finding the home is only one step in the home buying process.

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com