Buyer's can only be guaranteed representation when they choose to work with an exclusive buyer's agent or broker, who will never change sides because their office does not list seller' properties. The reason a buyer's agent might want an agreement, is because they typically the buyer to sign a Single Agency disclosure that has a second part which gives that buyer's agent the opportunity to change back to a Transaction Broker, if a listing becomes available in their office that would be of interest to the buyer.
An Excluseve Buyer Broker will only ask the buyer to sign simple Single Agency form which does not have a second part which gives permission to transcend. You can view this Single Agency from on my homepage. The State of Florida form states that the buyer's agent must provide the following duties to the buyer. Seller's agents can also represent seller's exclusively with the same Single Agency form.
1. Dealing honestly and fairly;
5. Full disclosure:
6. Accounting for all funds;
7. Skill, care, and diligence in the transaction;
8. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing: and
9. Disclosing all known facts that materially affect the value of residential real property and are not readily observable.
Beverly Howe, CIPS, ABR, GRI, TRC
Florida Buyer Broker
Informative homepage: http://www.floridabuyerbroker.com
Owner â€“ Exclusive Buyer Broker
Local Direct: 239-601-2013
US and Canada Toll Free: 1-800-283-7393
Cell phone: 239-269-2766
But not all buyerâ€™s reps are equal. A buyerâ€™s rep who has earned the Accredited Buyerâ€™s Representative (ABRÂ®) REALTORÂ® designation has made an extra effort to raise the bar,
A buyerâ€™s representative (or simply buyerâ€™s rep) is a licensed real estate professional who represents prospective home buyers in their property transaction.
If youâ€™ve formalized an agency relationship, typically by signing a buyerâ€™s rep agreement with a buyerâ€™s rep, you can expect him or her to:
Understand your specific needs and wants, and locate appropriate properties.
Assist you in determining how much you can afford (pre-qualify your mortgage).
Preview and/or accompany you in viewing properties.
Research properties, to identify any problems or issues you should consider.
Advise you in formulating your offer.
Help you develop your negotiation strategy.
Provide a list of potential qualified vendors (such as inspectors, attorneys, lenders, etc.) for other related services that may be needed.
Keep track of all the details throughout the entire transactionâ€”to closing and beyond.
In other words, a buyerâ€™s rep should make your home buying experience go as smoothly and successfully as possible.
But not all buyerâ€™s reps are equal. A buyerâ€™s rep who has earned the Accredited Buyerâ€™s Representative (ABRÂ®) REALTORÂ® designation has made an extra effort to raise the bar, with additional training and experience in serving you, the home buyer. If you work with an ABRÂ®, you can feel more confident that youâ€™ll receive the highest level of buyer-representation services.
Debra McAlister-Brown, P.A, Accredited Buyers Rep.
International Luxury Home Marketing Specialist
Florida Home Realty
1-888-943-4452 - Fax