necessary paperwork and legalities involved in purchasing a home.
BUYER AGREEMENT GREEMENTS
New regulations will mean that potential home buyers will need to enter into a written buyer’s agreement before touring homes. A written buyer agreement is a formal contract between you and your buyer's agent. It outlines the services your agent will provide, the terms of your working relationship, and how the agent will be compensated. Compensation for the buyer’s agent can be directly paid by the buyer or negotiated in various forms. This agreement ensures that both you and your agent are clear on your mutual expectations and responsibilities.
Key Components of a Buyer’s Agreement
• Services Provided: Details of what your agent will do for you, such as finding homes, arranging viewings, and negotiating terms. • Compensation: Clear disclosure of how your agent will be paid. This could be a percentage of the purchase price, a flat fee, or another arrangement. It's important to know that agent fees are negotiable and not set by law. • Term and Termination: The duration of the agreement and conditions under which it can be terminated by either party. • Consumer Protection: Disclosures related to your rights, confidentiality, and any potential conflicts of interest. Entering into a buyer's agreement provides several benefits. First, it brings clarity to your relationship with your agent, ensuring that both parties understand their roles and responsibilities. Second, it demonstrates a commitment from your agent to
3
Powered by FlippingBook