Let's Make it Official!

Posted on Dec 18, 2024 in

Buying a home is a big deal, and having the right Realtor by your side makes all the difference. At some point in the process, your Realtor will ask you to make your working relationship official by signing a Buyer Representation Agreement (BRA). If you’re staring at this document wondering what it means and why you need to sign it, don’t stress—we’ve got you covered.The BRA is a formal agreement between you and your Realtor. Essentially, it’s a commitment that says your Realtor is there to represent your best interests while you’re buying a home. It outlines what they’ll do for you, like finding properties, scheduling showings, negotiating offers, and navigating the entire process. It also clarifies your responsibilities to them, like communicating effectively, and working exclusively with them during the term of the agreement. The BRA includes details like how long the agreement lasts, general information about what you are looking for in a new home, and how the commission will be handled (which is typically paid by the seller, by the way). It should be noted that there are different types of BRAs, discuss your buying requirements with your Realtor to ensure you are satisfied with the arrangement.

Why is this agreement so important?

First off, it guarantees that your Realtor is fully committed to representing you. With a BRA in place, your Realtor can put their full focus on protecting your interests and guiding you through the home-buying process. It also simplifies communication since you’ll have a single point of contact handling all the details, from scheduling showings to answering questions. Plus, it builds loyalty to each other and ensures transparency - setting clear expectations right from the start. While some may question the necessity of this agreement, it defines the relationship, making the process much smoother and more successful.

What if things are not working out after you signed the BRA?

Some buyers might worry that signing this agreement can lock them into something they can’t get out of, but that’s not the case. BRAs can typically be canceled, with brokerage consent, if either party is not satisfied with the relationship. It is always best to discuss cancellation options with your Realtor or the brokerage rather than ignoring the contract and selecting a new Realtor to represent you, which could have legal implications.

You should never sign a document that you do not fully understand. When it’s time to sign a BRA, your Realtor will walk you through the document and answer any questions. It’s not just a formality—it’s the start of a partnership designed to make your home-buying experience smoother, easier, and more successful. Ready to start your home-buying journey? The Jason Rustand Team is here to help every step of the way. Let’s find your dream home together!

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