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See Zelda Sheldon give all the tips and information on the contract between the Buyers and Sellers on this FB LIve Video
Teaming up with a realtor ‘Exclusive Buyers Representation Agreement’
As an award-winning production realtor Nashville Real Estate Rockstars deliver a high-level VIP service helping buyers and sellers achieve their real estate goals.
In any real estate sales transaction there are two types of clients:
- The seller
- The buyer
Apart from a small percentage of ‘For Sale By Owner’ sellers, the vast majority of homes are sold under an ‘Exclusive Right To Sell’ listing agreement between seller and listing realtor. This agreement clarifies the rights and obligations of seller and realtor, the list price, property inclusions, what the realtor is paid and by whom, and how long the seller and realtor will work together for the sale of the property.
Up until the passing of Tennessee law in 1996 for the first ‘Exclusive Buyer Representation Agreement’ home buyers had almost zero protection as both listing agent and buying agent were essentially working on behalf of the seller. Real estate sales were conducted under the age-old Caveat Emptor or ‘Buyer Beware.’
Now you can protect your rights!
Now just as a seller and realtor team up under the ‘Exclusive Right to Sell’ agreement, the buyer also can enjoy their own version of the ‘realtor team up’ document. The ‘Exclusive Buyers Representation Agreement’ clarifies the buyers’ rights and obligations in a sale, the type, size, price and desired location of property, how it will be financed, what the realtor will be paid and by whom and how long the buyer and realtor will work together.
Yet two decades after the introduction into real estate law of this ‘game-changing’ document the majority of buyers are unaware and even suspicious of the role this agreement performs in the real estate process. They need not be.
Virginia is the first US state requiring mandatory signing of the Exclusive Buyers Representation
Agreement before buyers are shown a single home. More US states are expected to follow this common-sense law.
Experienced buyers appreciate the role buyer realtors perform to streamline the home buying process and are confident teaming up using this important document.
First-time homebuyers, or those who have not purchased real estate in a while often question why a ‘buyers rep agreement’ is required when working with a realtor. Misinformation confuses novice buyers who are fearful they will be ‘locked in’ and ‘trapped’ working with an unproductive realtor and as a result will not find a property. Poor performance exists in any industry and real estate is no exception.
Nashville Real Estate Rockstars’ first priority is to serve our awesome ‘ready, willing and able’ buyer and seller clients. To ensure our commitment to excellence our policy is working only with clients under either a ‘buyers rep’ agreement for six months.
Clients who have teamed up with Zelda Sheldon and the Nashville Real Estate Rockstar team at Benchmark Realty LLC can be confident that should they ever have grounds for dissatisfaction they may exit the relationship after mutual agreement with Benchmark Realty LLC senior broker.
You can be confident
‘Locking in’ dissatisfied clients is never a good way to conduct business. Our goal is to achieve 5-star ratings from our delighted clients and we look forward to working with you to purchase your home and achieve your real estate goals.