Why Buyer Representation Is Important (Don't Buy A Home Without It!)
Until the late 1980’s, real estate transactions involved a listing agent representing the seller and a sub-agent who brought the buyer to the transaction. Both agents owed duties to the seller, but most buyers believed their agent represented their interests wholly.
To combat this misunderstanding, state licensing regulators decided to require written disclosure notices to inform prospective buyers, sellers, landlords and tenants that their agent may or may not be their actual representative or advocate.
As a buyer, you are required to sign a disclosure whether you wish to be represented or not. The buyer’s agent works in the best interest of the buyer by: helping the buyer find and evaluate properties, preparing offers, negotiating offers and assisting with the many other facets of the process. If you, as a buyer, wish to have an agent represent you, you must enter into a written buyer agency agreement.
As a buyer, you deserve to have your interests represented. By signing an “exclusive right to represent” disclosure, you are requiring your agent to provide you with the same rights given to sellers including confidentiality and loyalty.