A buyer agency agreement is a contract between a buyer and a brokerage. Contracts can vary in length, and can include or exclude certain geographical areas. The buyer agency agreement lays out the commitments of the buyer to the brokerage, and of the brokerage to the buyer.

The compensation that a buyer’s agent (also called the selling agent) receives typically comes from the seller’s proceeds, and that information is provided in the Multiple Listing Service (MLS). In such a case, there is no cost for a buyer to be represented by a Realtor under their brokerage. If a buyer is interested in purchasing a property not listed in an MLS, it is possible that the seller will not compensate the brokerage. In this case, a buyer agency agreement would detail the buyer’s obligation to compensate their Realtors brokerage. Typically, even with unlisted properties, the seller compensates the Realtors brokerage.

Dual agency refers to the practice of a single brokerage representing both the buyer and the seller during the real estate transaction. When a brokerage and their Realtor acts in a dual capacity, they owe the same fiduciary responsibility to both parties. Buyers considering the use of a dual agent should pay particular attention to the difference in responsibilities when a Realtor acts as a representative of both the buyer and the seller. When an experienced, competent Realtor undertakes the responsibility of acting as dual agent, the Realtor no longer acts as an advocate for one party or the other. Rather, the Realtor becomes more of a mediator. 

To do the best job for you, your Realtor will need the best information you can provide. This would include such things as:  preferred price range, number of bedrooms / bathrooms, style of home (single-story, two-story, etc.), size of yard, preferred school districts, geographical areas / neighborhoods of interest, and special needs / special interests which your home needs to accommodate.  Keep in mind that a very specific set of criteria may narrow your list of potential properties, while a very broad list may lead to an overwhelming number of properties to view. 

Yes, provided your Realtor is a member of the MLS where the property is listed. Some communities have more than one MLS, so it’s important to find out which MLS(s) your Realtor subscribes to. 

Your Realtor can work with you to determine how often you want to receive updates on available homes, and by what method. Clients using email can receive automatic updates from our MLS system as soon as new listings are entered. 

With the advent of the internet, many buyers have begun searching for – and often finding – properties of interest while working with a Realtor. If you have a Realtor, contact them with the address or the MLS number of the property in question. Your Realtor can then contact the agent of the property. It is never appropriate for you to contact the seller of the home directly if it is a listed property; you also should not contact the listing agent directly. 

Yes, of course! You can attend a virtual open house or showing right from the comfort of your home! We can chat with you via your favorite online conferencing software such as Zoom or Google Meet! We have the tools to help you virtually!

The Buyer Representation Agreement is a legal document that formalizes your working relationship with a real estate agent to buy a new property. It details what services you are entitled to, and what your real estate agent expects from you in return. This is an exclusive agreement. However, there is an exception to this situation if a buyer is looking in a large geographic area. If you are looking for a property outside the market area your Realtor specializes in, ask them for a referral to a Realtor in another area(s). That way, both Realtors are in communication during the home search, allowing them to partner in finding you the right property.