Do I have to have a BuYeRs Representation from an agency....?

Asked by Ray-md, Hagerstown, MD Sun Apr 22, 2012

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Jessica Hood…, Agent, Gambrills, MD
Mon Apr 23, 2012
Hi Ray,

You do not have to have representation in a transaction. But there are some really good reasons TO make that decision. Your agent is free to you. The seller pays their fee. If you hire someone who is well versed in the area you are purchasing they can share details with you about market conditions, concession norms and whether the property appears to be properly priced. In other words, why wouldn't you want a rep? If you go it on your own you will likely be dealing with the representative of the seller who has been hired to act in the sellers best interest.
0 votes
Greg Myers, Agent, Gaitherburg, MD
Sun Apr 22, 2012
Maryland requires an agency disclosure and a Buyers agency agreement at the first scheduled face to face appointment. The time line for the buyers agency agreement can be negotiated between the buyer and the agent to be the the day or for 30 days.

Many buyers are always hesitant to commit themselves at the first meeting and frankly I don't blame them.

I have no issue writing a buyer agency agreement for a day or for 30 days meeting a new buyer. I feel we as agents have to earn the right to work with a buyer. A piece of paper does not create loyalty, we must earn the right to represent a buyers interest every day. The agency relationship has to be a "Good fit" for both the agent and the buyer.

Greg Myers
RE/MAX Realty Group
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Sun Apr 22, 2012
I have never heard of this being mandated by law. It may be the office policy, however. If you are uncomfortable, call a different agency and see what they require.
0 votes
Ray-md, Home Buyer, Hagerstown, MD
Sun Apr 22, 2012
I just came to MD and was approched by a person from the xyz company stating that it is mandated that the buyers representation agreenment needs to be done and a fee of 200 required. I am from Florida and this is not required. I even have an insentive of 500 dollars certificate from Home Depot to use toward my windows curtins and / or whatever fro the real estate purchase.
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