Let me tell you first what this Buyer Representation Agreement is. This agreement guarantees the best service you could get in procedure of buying a home or any other property.
I can understand the feeling you might have to sign any kind of form that an real estate agent might put in front of you. You might ask yourself, why do I have to sign any legal form with this agent? What would be my obligations? What if I could not go out of this contract? Is there any way to go out of it? And …… Let me tell you why:
Everybody is familiar with listing agreements. The agreement that any seller of a home or property would sign in order to sell. Nobody has any problem with that and everybody knows they must sign those forms in order to sell any house or property. Which is a contract between the Seller and the Real Estate company who would represent the Seller in the transaction.
Buyer Representation Agreement has the same concept. To be able to represent a Buyer in buying a home or property or even renting one, you must sign the contract.
First of all by law these forms must be signed. It is not something that would be in a real estate agent’s hand to waive it. Either the Buyer must sign the Buyer Representation Agreement or the Customer Service Agreement. The difference is that in Buyer Representation Agreement the agent would be your absolute representative and would not work for the other party and must be loyal and 100% responsible and fair to you. In Customer Service Agreement still the agent must be fair to you but does not have the absolute loyalty and commitment.
By signing these forms you would guarantee the most and the best service you could get in renting, buying or selling your home. You are acknowledging that you’ve been informed for all the information and the explanations about the agency relationship and which kind of service you would get, the responsibility of the agency toward you and the time period that both parties are committed to each other.
By signing the forms you allow the real estate agent become your absolute honest, loyal representative who could spend all his time for you and get the best benefit and highest value for your home.
As you need to feel absolute comfort and make sure to get the best out of your real estate transaction by dealing with an agent to buy, sell or rent a home, that agent also needs the guarantee and commitment from you to be able to spend his or her whole time with honesty and fairness to bring you the most and highest value he or she could for your home.
The last thing I could suggest to you, when you meet your agent and you are asked to sign these forms ask the agent, what if you are not happy or change your mind about the whole thing, what would be the best option. For sure the agent would tell you no problem, you just let me know and it is canceled. No do not accept this . It is not canceled unless you do what I am suggesting you to do. Ask the agent on the same forms write by hand that this contract would be canceled any time the Buyer wants to cancel. A phone call or a fax would be enough to cancel the contract. But as I said you must write this in the form at the time of signing.
The other thing is that when you sign any contract with any agent you are actually signing a contract with the company not the agent personally. So you have any problem you must talk to the owner or the manager of the company. Do not sign unless they agree with the hand written cancellation condition at any time.
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