What IS a Buyer Representation Agreement?
This is a legally required agreement between you and I where I commit to fulfill my fiduciary duties to you as your Real Estate Agent including:
Loyalty: Putting your interests first
Obedience: Following your lawful instructions
Disclosure: Disclosing all material facts in a transaction
Confidentiality: Keeping the your information confidential
Accounting: Keeping accurate records
Reasonable care: Using reasonable care when representing you
Essentially, it is my duty to give you the most comfortable and exciting home buying experience possible. It is also required by the State of Texas for me to be able to assist you with your real estate needs.
Our agreement for me to be your realtor will be for 18 months, but if I don't fulfill my obligations and give you the great experience you deserve you may choose to recede from our contract at any time. It also states that my fee is 3% of the purchase price of the home you eventually select. I will do my absolute best to collect that 3% from the seller of the property during each and every home buying transaction (most do cooperate in this way), but should they refuse to agree to pay my fee it would be your responsibility. This fee would not be due until the day you close on your home.