Hello buyers did you ever hear the words...Buyers Agency Agreement?
This little document is the source of many conversations between REALTORS. We discuss how to get you to sign them "up front," if we should try to get you to sign them, if we want you to sign them. Yes, this document is very important to you as well as to the agent that wants to represent you in the purchase of your home.
In most transactions the Sellers of a home have hired a Real Estate firm to represent them. The Sellers have agreed to pay a commission to the firm they hired, and that firm has an arrangement with other firms to "co-broker." In other words, to share the commission with the REALTOR'S firm that represents the buyer. The Seller pays for both REALTORS.
One of the big dilemmas seems to be the possibility that you, as a buyer, may sign up for a REALTOR to represent you and then decide to buy a FSBO (for sale by owner). In this case there is a possibility that you may have to pay for "your" REALTOR and that is not a pleasant thought for buyers. However, it is also possible that if you let your REALTOR contact this FSBO before you do any "self-representation," your REALTOR may be able to solve the commission with the Seller and then you can still have your representation for free.
Having an experienced REALTOR represent you as the buyer is one of the best things you can get for free. We locate properties based on your specifications, we load you up in our car, drive you around to these places, point out possible good things and bad things, help you find a great mortgage, complete all the legal paperwork, make sure you are advised of your rights as a buyer, keep track of important dates during escrow, keep in contact with all parties involved in the transaction, make sure you can get in the property several times before closing and attend the closing with you to make sure things are the way you want them to be. Where else can you get this kind of service?
When you are considering the purchase of a home please select an experienced REALTOR and let them work for you!
Call or email with any questions you may have! 