UNDERSTANDING THE BUYER'S REPRESENTATION AGREEMENT
A Buyer Representation Agreement is necessary to see properties. This agreement will.
- Establish a contract between the homebuyer and the real estate agent.
- Outlines the agent's duties and the buyer's obligations.
- Specifies the agreed-upon commission.
- Ensures the agent represents the buyer's interests.
UNDERSTANDING HOW BUYER'S AGENTS ARE COMPENSATED
EXPLANATION OF OPTIONS
We will discuss buyer's agent compensation when completing the Buyer Representation Agreement. This is paid to the buyer's agent's brokerage, usually at the time of closing. There are several ways to compensate a buyer's agent:
BY THE BUYER
A buyer may pay the compensation directly.
THROUGH SALES CONTRACT NEGOTIATION
The compensation may be negotiated through the terms of the offer and paid at the closing of the contract, which may include seller concessions.
BY THE SELLER
When listing a home, the seller may offer a concession.