Starting 8/17/2024 all our agents “working with” a buyer will be required to enter into a written agreement with a buyer prior to touring a home, including both in person and live virtual tours. Written buyer agreements benefit consumers because they clearly and transparently outline the services an MLS Participant will provide and how they will be compensated.
A Buyer Representation Agreement is a legal document that formalizes your working relationship with a particular buyer’s representative, detailing what services you are entitled to and what your buyer’s rep expects from you in return. While the language used in the document is formal, homebuyers should view it as an important and helpful tool for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive.
- Receive a higher level of service. If you’ve formalized an agency relationship with a buyer’s rep, you can expect to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services, relative to customers. While the details vary from state to state, and from one buyer’s agent to another in TEXAS and working with Coldwell Banker TGRE , you can expect that being a client means that you’ve formed a fiduciary, or agency, relationship with your buyer’s rep.
- Get more without paying more. Oftentimes the listing broker has already agreed to pay a buyer’s broker’s commission. If they haven’t, you can ask your buyer’s rep to avoid showing you any such homes. Or you can still view the home, knowing that you’ll need to factor your broker’s commission into any offer you may write.
- Avoid misunderstandings. A Buyer’s Representation Agreement clarifies expectations, helping you understand what you should and shouldn’t expect from your buyer’s rep, and what they will expect from you, which usually centers on loyalty
Contact us today to discuss buying or selling your home!