Showing posts with label Buyer Representation Agreement. Show all posts
Showing posts with label Buyer Representation Agreement. Show all posts

Tuesday, November 3, 2015

Why is my brother asking me to sign this document?

My brother, who's a real estate broker, asked me to sign a buyer-representation agreement before he helps me find a house. I trust him completely. Why do I need to sign some paper? The short answer: to protect both of you. The buyer representation agreement spells out many aspects of a broker-client relationship, including how he will be compensated, your agreement to work exclusively with him, and his agreement to help you find a property and negotiate the deal. In addition, as a member of the National Association of REALTORS®, your brother is obligated to comply with NAR's Code of Ethics, which sets strict standards on REALTORS®' duties to clients and customers, the public, and other REALTORS®. The code requires REALTORS® to assure whenever possible that agreements-like a buyer representation agreement-express the specific obligations of the parties in writing and in clear and understandable language.