Have you heard of a BUYER REPRESENTATION AGREEMENT?
What is it? Simply put, it’s a document that lays out clearly what a buyer can expect in terms of service from their REALTOR® . It’s the buyer version of a listing agreement, which is the document that a REALTOR® and a seller sign when a home is being placed on the market for sale. We’ve used Buyer Representation Agreements at SCHMIDT for years, and it’s now a legal requirement for all buyers working with a REALTOR® in Alberta.
There are two types of Buyer Representation Agreements: exclusive and non-exclusive. With an exclusive agreement, the buyer commits to working only with one REALTOR® in their home search. With a non-exclusive agreement, the buyer can sign representation agreements with as many REALTORS® as they like. At SCHMIDT we work with Exclusive agreements. Why? First of all, because it’s truly best for the consumer! If you think about it, how helpful will the advice of a REALTOR® be if the buyer is looking at properties with 20 different agents? When a buyer is viewing properties with more than one REALTOR® there’s no way for the agent to get a handle on the buyer’s preferences, needs and response to what’s available. The more we understand what your ideal home looks like, the more we can think “outside the box” to find great choice s and options you’d never have thought of! Without seeing every home with a client, we’re severely limited our ability to do our job. Working together with an Exclusive Buyer Representation Agreement we partner up with a shared goal … to make sure you find the BEST property for you and your family! Without that commitment, it’s tempting for a REALTOR® to keep taking on more and more clients, but that doesn’t lead to the kind of service or results that we believe you need and deserve. Because we have that commitment from our clients, we commit equally to the process.
When you work with SCHMIDT, you are always in control.
Thanks to our unique “Easy Exit Guarantee”, you’re free to cancel your buyer agreement with us at any time. No strings attached. Below is a sample of our Easy Exit Guarantee for buyers.
Click here for answers to FAQ’s about Buyer Brokerage on the Real Estate Council of Alberta website. And here’s a short YouTube video Kathy put together to help consumers understand buyer brokerage. Please share this information with someone you know who’s thinking of buying a home!
Click here to to learn THE 5 BIGGEST MISTAKES HOME BUYERS MAKE and how YOU can avoid them!
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