Hey there, happy Tuesday!
We hope you all are having a great start to your week!
There are a lot of moving parts when buying or selling a house. Although, we as agents, try to make it as simple and smooth as possible, buying and selling is not something you check off your to-do list by the end of the week. It is really important that you have people on your team (i.e. agents, lender, title closer, etc) that are dedicated to working for YOU. So, that brings us to the point of why a Buyer’s Agency? What does that really even mean and what does it do for me? We’ll tell you!
First of all, let us preface that a Buyer’s Agency is a signed contract between you (buyer or seller) and a real estate brokerage (in our case, Keller Williams).
1. Loyalty. When you sign a buyer’s agency with an agent of your choice, they must act in the best interest of the buyer. BY LAW.
2. Obedience. Realtors must follow the lawful rules and guidelines when under a buyer’s agency with a client.
3. Disclosure of all material facts. You might be thinking, what?! Here are some examples:
Relationship between agents and other parties, existence of other offers, status of earnest money, seller’s financial condition, properties true worth, commission splits with other brokers, and the legal effects of important contract provisions.
4. Confidentiality. Any discussions, facts, or information is NOT to be discussed with anyone outside the buyer’s agency.
5. Reasonable skill and care. Our personal favorite. This basically just means we need to be the very best agent on behalf of YOU. We give expert advice to guide you along this process. It’s our jobs to get all the information and present it to you in a way that you can make a sound decision.
We hope this broke it down in a simple way, because it really is. It’s so important to pick an agent who is going to uphold the buyer’s agency contract to the highest degree.
Got questions? We would love to answer them.
The Arbuckle Team