Hello all. Is anyone familiar with Buyer Brokerage Agreements. I would like anyone`s comments about them. Do you use them. What is the response . If you are a member of the general public, a buyer brokerage agreement is where your realtor has you sign an agreement that she he is working for you and that they will use all of their knowledge etc. ability to find you a home and to represent you in that purchase. This is their contract with you. On the other hand, it is your responsibility to call your realtor on any property you are interested in so that they can represent you to the best of their ability. It is also(according to some contracts) the purchasers duty to not buy without their realtor`s involvement in the negotiations and to pay an indemnity to the realtor if the purchaser buys without the realtors involvment. In this way the client is protected because they have a professional representing them and the realtor is protected because he or she is guaranteed to be paid for their work.
So, does anyone have any experience with these things. I am interested to know whether I should start instituting them or not. Chris R