Step 1: Choosing the Right Agent
"A skilled negotiator can save you time and thousands of dollars."
Roy Kirkendoll, National Institute of Real Estate Sales Counselors
A buyer’s agent represents the buyer who buys property. It used to be before the buyer’s broker agreement that the buyer agent would contract with the listing agent and seller so that both agents were representing the seller by contract. The buyer agent was thereby obligated to the seller and listing agent's terms on price and important negotiating points. The exclusive buyer agent on the other hand represents the buyer exclusively, giving the maximum negotiation power and best deal to the buyer. That is why you always want to sign up for exclusive buyer representation when you decide to buy property.
Exclusive buyer representation is established in a buyer broker agreement, a written agreement between the buyer and buyer agent, which represents a shared commitment on the part of the buyer and buyer agent to work together for a period of time, usually six months, where the buyer agent agrees to enhance the capacity of the buyer to find property and increase their negotiating and problem-solving power, and the buyer agrees to buy property only through their exclusive buyer agent. There is no charge to the buyer as long as they buy through the exclusive buyer agent until the end of the six month period plus a year for homes specifically shown to the buyer and in the meantime the buyer enjoys the services of the exclusive buyer agent for six months for FREE, and the agreement is renewable if the buyer needs more time and both buyer and buyer agent agree to extend the time frame.
Next, Desirable Qualities of Buyers and Agents
 | © John-Robin Middlebrook. Last updated July 2006.
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