It used to be that only Sellers entered into a listing contract with a Real Estate Agent, thereby having an expert professional salesperson working on their behalf.

NOT ANY MORE!

Buyers can now enter into a similar Buyers Agency Agreement, and know that their chosen Agent will be working for their best interest. So what is the cost?

Usually nothing. Let me explain:

A Buyer Agency Agreement gives me the authority to properly search for all possible homes including MLS listings, exclusive listings, homes not on the market, and even 'For Sale by Owner' properties. It gives me the assurance that you will work with me only, and I can therefore freely give you the information and addresses to drive by.

If necessary, I will even advertise in our local paper under "Wanted" for a suitable home for you.

When a property matching your criteria becomes available, you will be contacted immediately. This is critical in the current fast-paced market, and could save yo thousands of dollars and help  you find the perfect home.

So why isn't every realtor using this great feature? Probably because it takes time and effort to explain and most realtors are not prepared to make the effort to search for unlisted and for-sale-by-owner properties. They might also be afraid to lose the buyer by mentioning a cost or agreement but there really is no added cost for the buyer.

A Buyer Agency Agreement says that I will be paid a fee of 3.5% on the first $100,000 and 1.75% of the balance, unless otherwise agreed. My fee is always included in the price that you pay. This is true whether  or not yo hire me to represent you through a Buyer Agency Contract or if I simply show you properties listed through the Multiple Listing Service. For all listed properties my fee is already included in the price. In the case of unlisted properties and 'For Sale By Owner', since there is no listing, there is only half of the regular commission payable. As your exclusive Agent, I will negotiate the lowest possible purchase price. In almost every case, this would be less (including commission) than you could negotiate yourself, unless of course you had complete market and appraisal knowledge, and were an expert negotiator - plus wanted to go through all the time and effort required to find these properties in the first place.

As a Buyer's Agent, I will never disclose to the Owner or the Seller's Agent anything about you and your position. In a situation where Re/Max-Vernon and Bjorn Edblad represent both Seller and Buyer, I cannot discuss with the Seller how much you are willing to pay or how motivated you are to purchase the property.

A Buyer's Agency Agreement is truly a great advantage. As with my listing agreement, it can be cancelled at any time if you are not satisfied with my service.

It's a win/win situation!