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🏡 Homebuyer: Why Do I Need to Sign a Buyer Agreement with my Realtor?

 


If you're working with a real estate agent who’s a REALTOR®, that means you’re working with a professional who is committed to putting your best interests first.

As of August 17, 2024, homebuyers will need to sign a written agreement with their agent before touring homes. Here’s what you need to know:

✅ What is a Buyer Agreement?

It’s a simple written agreement between you and your agent that explains:

  • The services your agent will provide

  • How your agent will be paid for those services

❓ Why Am I Being Asked to Sign One?

This is part of a new nationwide rule to make sure everything is clear between you and your agent. It’s designed to protect you and make sure your agent is working in your best interest.

🗺 Is This New Everywhere?

Not everywhere. Some states have used these agreements for years, while others are just starting now. Either way, it’s now a requirement in most places when working with a REALTOR®.

📝 Can I Negotiate the Agreement?

Absolutely! You can talk with your agent about:

  • What services you want

  • How long the agreement lasts

  • How much your agent is paid

The payment amount must be clearly written—not a range or left open-ended. Only sign when it reflects what you’ve agreed to.

🎯 What Are the Benefits?

It helps make sure you and your agent are on the same page from the start. It lays out expectations clearly—so there’s no confusion later on.

📅 When Do I Need to Sign It?

You’ll need to sign the agreement before touring a home with your agent, whether in person or online.

You do not need to sign anything just to visit an open house on your own or to ask an agent some general questions.

💵 Do I Have to Pay My Agent Out of Pocket?

Not necessarily. While the agreement will explain how your agent is paid, you can still ask the seller or their agent to pay that fee as part of your offer.

🔄 Can I Change or Cancel the Agreement?

Yes, most agreements can be changed or ended if both you and your agent agree. Be sure to read the agreement and ask your agent if you have questions.

📍Note: Every state has slightly different rules. If you’re not sure about something, ask your agent or talk to a real estate attorney. You can also visit facts.realtor for more information.

Whether buying, selling, or seeking valuable insights into the market, I'm here to be your trusted guide in the dynamic world of real estate. Feel free to contact me for a confidential discussion, where we can explore your goals, address any questions, and navigate the exciting path of real estate together. Your real estate journey is unique, and I am committed to providing personalized assistance tailored to your needs. Don't hesitate to connect. 


Dani | 734-623-9442 | dani@danihallsell.com

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Location: Ann Arbor, MI, USA

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