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What is a Buyer Broker Agreement and Why Do You Have to Sign It?

What do you mean I have to sign something just to see a house? I just want to see a house.

If you’re thinking of buying a house and you’ve been wanting to look at homes, or you have friends or family who are, this is probably something you’ve said or heard or have a little confusion about. I’m here to break it all down for you.

This is a time of shifting and adapting in our industry, so a few things have changed. They’re going to be taking effect this summer. So first things first, yes, you are going to have to sign a buyer brokerage agreement. No, it does not have to be for the rest of your life. You can sign a shorter-term agreement, but before you sign anything, make sure that you’re working with an agent who is going to sit down and go through the document with you. Go through how they work and what they do. I never show a house without going through a whole buyer’s consultation.

Now, even if you’ve bought multiple homes over the years, you probably have not bought multiple homes this year. The forms, market, and even area are probably different. The home itself might be different. So having that buyer consultation is really going to help streamline the whole process for you and make it easier to understand. So yes, you will have to sign that, but please don’t sign it without doing that buyer’s consultation with the agent that you have chosen to represent you. And yeah, you can interview more than one.

So if you have questions about signing the agreement, just know it is now the law. Nobody’s trying to get one over on you, but make sure that you understand what you’re signing and be kind. We are all trying to navigate this too. So if you call an agent and say, “Hey, I want to see 123, Main Street”, and they say, “Hey, I need to sit down and talk to you first”, understand that it’s probably awkward for them too. We’re all trying to figure it out, but as an industry and certainly, as individuals, our goal is to get you into the home that you love, whether it is your first house, your step-down house, your move-up house, or investment property. If you’re working with an agent that has good integrity, they want you to understand what you’re signing, so make sure they’re taking the time to explain it.

If you have any questions about it, reach out to me. Send me a message or give me a call, and let’s talk through it. I’d love to help you find your next home.