Hey it’s Adrianne from LiveinDallasTexas.com. I wanted to take a moment today to chat with you briefly about the buyer’s rep agreement. I’ve been getting a lot of questions lately about the buyer’s rep agreement so I wanted to just share a little bit about it with you today.
So the buyer’s rep agreement is a form that was created by TRIP – which is a Texas real estate commission. It’s a standard promulgated form that we use in real estate all the time. Essentially what the form does is it makes your relationship with your Realtor mutually exclusive. It also takes you from being a customer to a client. It entitles you to an elevated level of service so you are now entitled to your Realtors expertise, you are entitled to confidentiality and loyalty. They are going to operate in your very best interest the entire duration of your transaction.
It’s okay if you choose not to sign a buyer’s rep agreement; you can still work with a realtor. However that realtor does not work in your best interest. The realtor that’s helping you find a home actually will work in the best interest of the seller even though the seller has their own realtor that they’ve chosen to represent them legally in the state of Texas. If you don’t have a buyer’s rep agreement sign the realtor works for this seller so for example if you do not have a buyer’s rep agreement signed and you walk into a home with a realtor the realtor is not able to advise you on the home, so for example that there are signs of obvious wear and tear I perhaps the windows need to be replaced or their sloping in the floors because that realtor again works for the seller then they are not able to advise you on that property legally. If you have a buyer’s rep agreement signed and you are your Realtors client, that means that when you walk into a home they are able to point out things to you so for example perhaps the windows need to be replaced maybe there are so power innovations that have been done they can suggest that you move on to another home as this home may just require too much work.
You are able to get those opinions from your realtor when you have the buyers agreement signed so it’s actually a document that can really improve your transaction or the experience of purchasing a home by leaps and bounds. Okay so here’s the other thing if you are not receiving that elevated experience from your realtor: You are able to get out of the buyer’s rep agreement so it doesn’t mean that you’re married until the end of the transaction and you have to deal with a subpar experience. What it does mean though is that you can take your buyer’s rep agreement and send it to your Realtors broker and they are able to terminate you from that by hat one term at you and release you from that particular buyer’s rep agreement so the long and short of it is having a buyer’s rep agreement signed with your real tour considering you’re going to be making the biggest investment in your life is wise.
It is really an investment in your future, having an expert that can help you through the transaction. I’m happy to send you a copy of it if you’d like to review one, I can email it to you. Again find me on the web at LiveinDallasTexas.com there’s a Contact Us page there you can email me there you can take a look at properties while you’re there look at some testimonial videos is a pretty neat site so again Adrianne with LiveinDallasTexas.com if you have questions I’m happy to take them comments or concerns just shoot me a message take care and have a great week!