What is an Exclusive Buyer Agency Agreement and why do I need one?
You may be asking, “What is an Exclusive Buyer Agency Agreement, and why do I need one?”
The boring answer to the “what” is that an Exclusive Buyer Agency Agreement is a legal instrument that allows your real estate agent to represent you in negotiations to purchase a home. The Exclusive Buyer Agency Agreement outlines the length of the agreement, explains the role of the agent and buyer, and details how and when the agent will be paid.
So now the question becomes, “why do I need an Exclusive Buyer Agency Agreement?” There are several reasons, honestly:
First, an Exclusive Buyer Agency Agreement clearly explains what your real estate agent is responsible for and what you are.
Next, it gives you exclusive access to your real estate agent, so when that must-see home comes on the market, you are at the top of the list to get an appointment as soon as possible. As a sought-after agent, my time is valuable. So is yours! I give special priority to clients who are willing to commit to me as much as I am committed to them.
You will notice the agreement says that you agree to pay my fee if the seller does not. Most of the time, the fee is covered by the seller. Still, occasionally the fee isn’t built-in. For this reason, I ask that I be your first point of contact whenever you see a property or community in which you are interested. Whether it is a new build, something listed in the MLS, or a For Sale By Owner, we can usually work something out to avoid bringing extra money to closing.
You might be thinking, “I just met you. What if we don’t like each other? What if you don’t return my calls or get me in to see houses when I need to?” Don’t worry. I offer a satisfaction guarantee. If you are not happy with my service, I ask that you talk to me and give me a chance to make it right. If we can’t work it out, I am more than willing to cancel our agreement. I am 100% confident when offering this guarantee because I have NEVER had to use it!
Hopefully, that answers all of your questions about the Exclusive Buyers Agency Agreement, and you are ready to find your dream home! Team TREO is just a shout away if you need more guidance.
