Attention Home Buyer's
Why Are You Paying For A Service You Are Not Getting??
What are the benefits of the buyer broker agreement?
As Realtors our first responsibility is to represent the best interest of our client. With this in mind it is very important that all home buyers understand who the agent is contracted with. When an agent has a contract with the seller of a house they are considered to be a listing agent. That agent has a legal obligation to market and sell that house for the best terms and (highest) price possible.
When this listing agent sets his commission with the seller he figures in a certain percentage to offer any agent who brings a buyer for that property.
When a potential buyer makes an offer directly to the listing agent or any other agent that he doesn't have a buyer brokerage agreement with. They end up paying a commission for a service they are not receiving.
The service is already paid for by the commission the seller agreed to pay at the time of the listing.
Why not even the playing field by having a Realtor look out for your best interest!
When you contract with a Realtor to be your buyer broker you have just hired a professional to help you with all phases of the transaction. For example: dealing with attorneys, appraisers, home inspectors, mortgage bankers, and other agents. They will aid in negotiation, do research and analyze market data.
If only I new this when I purchased my home.
For more information on this topic click the following link:
http://www.markschreier.com/video.html
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