Signing With an Agent/Buyer Representative
In real estate, there are different possible forms of agency relationships, for the seller it is buyer representation agreement:
- When a real estate brokerage represents a buyer it must do what is best for the buyer.
- A written contract called a buyer representation agreement, creates an agency relationship between the buyer and the brokerage, and establishes buyer representation. It also explains services the brokerage will provide, establishes a fee arrangement for the realtor’s services and specifies what obligations a buyer may have.
- Typically, a buyer will be obliged to work exclusively with that brokerage for a period of time.
- Confidences a buyer shares with the buyers agent must be kept confidential
- Although confidential information about a buyer cannot be disclosed, a seller working with a buyer agent can expect to be treated fairly and honestly.
