Clients often ask me about the Buyer Representation Agreement or B.R.A. They don’t know what it is or how it benefits them as a client. And they wonder if they should be concerned about signing it.
The B.R.A. has to do with what real estate calls agency representation. Agency representation is a written agreement that protects the clients and their information.
At one time, there was only seller representation. We had no buyer representation. Depending on when you last bought, you may not have encountered this document. Even though I might be helping you buy a house, I would really be working for the seller.
Well, not having a client agreement means you are unrepresented by me as a Realtor. Sure I can take you to see houses and spend weeks or months assisting you, but that doesn’t mean I am representing you.
Without that representation agreement, by law I can disclose any of your information or intentions to the other side.
When you ARE represented, it means I have an exclusive relationship with you and I am bound by law to relay any information I learn about a property to you. I also must keep your interests first and foremost, and I must maintain confidentiality around your interest in a property. If I learn of your purchasing strategy, I am prohibited from disclosing that information.
Remember, without a written, current Buyer Representation Agreement, you are unrepresented.
You remain a customer, not a client. A Customer agreement states I am not working for you as a buyer. I only have a duty to treat you fairly, honestly, and with integrity. I am unable to provide you with advice or an expert opinion, just data.
Some additional benefits to you:
– There is nothing in the agreement that states you must buy anything at all.
– There is no extra fee to have my services as a client.
So find a Realtor you know, like and trust and sign a Buyer Representation Agreement. Protect your interests and hire a real estate expert like me who will work on your behalf. Call me anytime. Let me help you find your dream home.
– Chip Barkel, MCNE, SRES, Toronto Real Estate. Extraordinary Service. Top Results.