🏡 CONSUMER GUIDE: Why Am I Being Asked to Sign a Written Buyer Agreement? 📝
Danekia Smith, MBA, BCCC
Dedicated Realtor with 15 Years of Experience | Board Certified Credit Consultant | Mortgage Insurance | Finding Your Dream Home, Removing Credit Hurdles and Insuring your greatest asset! | Greater New Orleans
If you're a homebuyer working with a REALTOR®, you're in capable hands. By signing a written buyer agreement, you're solidifying a professional relationship built on ethical obligations and your best interests.
🔍 Understanding Buyer Agreements: This agreement outlines the services your real estate professional will provide and the compensation for those services rendered.
📅 Effective Nationwide: Starting August 17, 2024, written buyer agreements are a national requirement for many real estate professionals, ensuring transparency and clarity.
💬 Empowerment Through Negotiation: Feel empowered to negotiate aspects like services, agreement length, and compensation. These agreements are flexible and not set in stone.
🔑 Key Benefits: Clear expectations, reduced confusion, and defined services and compensation. Buyer agreements set the foundation for a successful partnership.
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📝 Signing Timing: Commit to the agreement before touring a home with your agent, ensuring a clear understanding from the outset of your professional relationship.
💵 Payment Clarity: While you're responsible for payment per the agreement, you can discuss compensation with the seller or their agent.
🤝 Flexibility in Relationships: Buyer agreements don't dictate the type of relationship you have; you have the freedom to choose a suitable business relationship under state law.
🔄 Change or Exit: You can modify or exit the agreement with mutual consent. Check the agreement details and discuss any changes with your real estate professional.
ℹ️ Further Information: Visit facts.realtor for in-depth insights and consult your real estate professional or attorney for state-specific details.
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