Home > Buyer Agency Agreement
"Thanks for everything! You were helpful, thorough and on-top of things from start to finish. We love our new house..." Debbie and Mike, Sudbury
Written Agreements Benefit Buyers
Most consumers know that if they want to “hire” a real estate broker/agent to sell their home and represent their interests, they must sign a contract. Realtors® are not allowed to list a property without one. The contract clearly spells out the terms of the agreement including length of time, compensation and each party’s responsibility.
While buyer agency is not a new concept – it has been legal in MA for 15 years and a couple of years ago the laws that govern agency relationships was updated to further ensure consumer protection, many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract.
I have had many buyers call me to ask for help finding a home and they tell me they have had disappointing experiences with their “buyer” agents. When I ask if they had a contract with these agents, they answer is always “no”. Well, of course they are disappointed! How did the agent know what the buyer expected?
The benefit of a contract is that both the buyer and the agent know what to expect and each is accountable. The buyer knows which area the agent covers, they know how the agent is compensated, and that the agent is legally obligated to act in the buyer’s best interest.
Buying a home is a process not an event - there's a lot more involved than finding a picture on the internet. Successful negotiations are based on trust, confidentiality, and mutual respect. Buyers are entitled to have a qualified broker/agent of your side to ensure you get the representation you deserve. A written agreement is the first step.
While any agent can call themselves a buyer's agent, an ABR, Accredited Buyer's Representative has additional training and is part of a network that continues to provide educations and new tools for representing buyers.
Before you start looking for a house find a qualified buyer agent/broker who will listen to you and respect your needs, who knows the market in the area, knows how to negotiate, has a network of resources - lenders, home inspectors, attorneys, movers, etc.; and who will educate you so you can make the best decisions about your new home. Real estate is about relationships so make sure you have an agent who knows and cares about your well-being.
Marilyn Messenger, an Accredited Buyer's Representative and Certified Residential Specialist, has been representing home-buyers in Sudbury, Maynard, Wayland, Stow, Acton and the towns west of Boson since 1993.
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