Buyer’s Agency Agreement

Question:

Without a Buyers Agency Agreement, who does the agent who is driving you around and showing you houses really work for?

The seller!

Who does the Buyer’s Agent really work for?

You, the Buyer!

When you sign a Buyers Agency Agreement, the agent immediately becomes "Your Agent" (your employee). Your agent now has fiduciary responsibility to you and the purchase transaction of your home.

Should you work with only one agent?

Since all Multiple List Services (MLS) Realtors have the same resources, i.e. MLS computer listings, and County Tax Records, all agents have the same capability of doing the same research for you.

The only difference in agent’s is the relationship and trust that you develop and build while working with that one agent. 

How will our Buyer’s Agent get paid?

The seller pays a commission to sell their home. When the home sells, the sales commission is typically split four ways:

.1/4 to the Listing Broker,

.1/4 to the Listing Agent

.1/4 to the Selling Broker

.1/4 to the Selling Agent  

What if I have signed a Buyer's Agency Agreement but am not happy with them and want to change?

Just as you would expect of them, notify them in a professional manner and then formally notify them that you no longer require their services. If they do not use e-mail, then by U.S. Mail.  A simple hand written letter explaining the circumstances is sufficient.