BUYER BROKERAGE AGREEMENT

When you sign a Buyer Brokerage Agreement (BBA), yes you are committing to work with the REALTOR® you signed it with.

  1. When you sign a BBA and make a commitment to work with one REALTOR® they are also making a commitment to you, making your needs a priority for them.
  2. They will review the many properties generated by the search, as well as possibly physically preview the properties – saving you time!
  3. The realtor you sign with will focus their time on clients that they have a written commitment with as these clients are relying on them to provide the service
  4. Your REALTOR® will help dig for information that you can’t find for yourself – i.e. caveats against a home,  as well as provide data supporting the fair market value..

While the BBA defines the fee structure of a REALTOR®, it also allows for collection of the fees from the transaction.

The seller typically signs the listing agreement allowing for payment of REALTOR® fees, but has also built these into the sale price of their house.

In the past, BBAs were not mandatory but have been born from complaints that buyers were not represented in the proper fashion as they had anticipated.  This is now in writing so there is no confusion.

If you don’t like working with the realtor you have signed with – customer service indicates that you should be able to terminate your relationship in writing – check out section 10 that clearly outlines how the agreement can end early.

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