This post is all about you—the homebuyer. I aim to ensure you understand how these changes will impact on you and what you need to know moving forward. The Buyer Representation and Broker Compensation (BRBC) Agreement is a contractual document used in real estate transactions to establish a formal relationship between a buyer and a realtor or agent.
Three Big Changes for Homebuyers
1. Signing a Contract with an Agent
You can no longer simply pick up the phone and request to see a home with any agent. Moving forward, you must sign a contract with an agent. But don’t worry—I’m here to explain what this means.
2. Increased Expectations
Homebuyers will now expect more from their agents in terms of follow-up and attentiveness. In return, you’ll need to provide loyalty under these new rules.
3: Commission Negotiation.
Understanding Homebuyer Contracts: What You Need to Know Before You Sign
Before you commit to any Buyer Representation and Broker Compensation (BRBC) Agreement , it’s essential to familiarize yourself with what you’ll be signing. Whether you choose to have me represent you in purchasing your next home or decide to work with another agent, having the right information is key. That’s why I am providing a sample of the contract you’ll be asked to sign. This proactive step ensures you are well informed about the latest regulations and contract terms, empowering you to make confident decisions when selecting an agent to represent you in your home-buying journey.
The Buyer Representation and Broker Compensation (BRBC) Agreements
5 Page Buyer Broker Agreement: 5 Pages Non-Exclusive or Exclusive
Buyer Showing and Representative Agreement: Buyer 3 Houses or 30 Day Agreement Non-Exclusive
Misc. Forms referenced in the The Buyer Representation and Broker Compensation (BRBC)
1: Buyer Advisory
2: Buyer Identification and Personal Preferences
3: Buyer Financial and Personal Information
4: Broker Compensation Advisory
Download the forms and get your yellow highlighter out along with a notepad. When you are all done feel free to call a set an appointment either on the phone or in person to review all of you questions and concerns.
Robbyn Battles
Real Estate Consultant and Broker Associate