As the real estate industry continues to navigate multiple lawsuits regarding the requirement of sellers (through the Listing Brokerage) to offer compensation to a buyer’s brokerage, it is more important than ever to learn the benefits of Exclusive Buyer Representation Agreements. This is Part II of a three-part series breaking down the benefits of this underutilized Agreement.
Part II
When encouraging your customers to sign an Exclusive Buyer Representation Agreement with you, it is important to explain the benefits of having an agent working for them and to always have their best interests in mind.
Therefore, make sure to review the various and important roles you will play throughout their homebuying journey, such as:
- Sorting through all listings to share only listings which fit their needs and budget;
- Arranging for private showings and gaining access to all listed properties of interest;
- Negotiating and writing offers for purchase and sale;
- Vetting and securing lenders, inspectors and other repair services needed to close; and
- Coordinating with the listing agent, lender and settlement agent to ensure a smooth closing process.
The Exclusive Buyer Representation Agreement gives your customers added assurance that you are partnering with them to obtain the home of their dreams.
Accessing in Flexmls
Access realMLS’s Exclusive Buyer Representation Agreement in Flexmls under Menu > Forms/Info > realMLS Buyer Representation Agreements. Look for Part III of this series next where we will explore the “Agent/Brokerage Benefits” of the Exclusive Buyer Representation Agreement.