It’s the opposite of a listing agreement and is for the individual on the other side of the real estate sale. The Buyer Representation Agreement Form is the first piece of paper that a homebuyer will sign when entering into a relationship with a real estate sales representative.
The agreement spells out the “critical client services” provided to the client, says real estate sales representative Paul Hammond of Remax Escarpment Realty. He adds that it protects the interests of both the buyer and the sales representative and outlines the different parameters.
The geographical location of the house search is spelled out. This allows a client who is looking in more than one area to set up a separate agreement with another agent in another geographical area. There is also a start and finish date that stipulates the life of the agreement. Hammond explains that he usually sets up a four-month agreement, the typical length of time that it takes for find a buyer a home.
In addition to spelling out that he has the best interests of the buyer in mind, the agreement confirms the amount of commission being paid to the agent who is handling the purchase for them. Basically it covers “every facet of the purchase process”. Even buyers who have purchased a home previously can be “a little apprehensive” about this major transaction, suggests Hammond. The agreement puts them at ease.
To find out more about the services he offers, go to Paul Hammond’s website at
www.paulhammond.ca
