Realtor Representation for Buyers

Do you have a Real Estate Agent working in YOUR best interest?

If you want to have your own Real Estate Professional working for you and in your best interests, it is important that you enter into a buyer agent contract with the Real Estate Professional.  There is normally no cost to you to have your agent under contract; the seller pays the commission unless otherwise arranged with you.  However the agent you are using is now under contract to work only for you and in your best interests.

By law, unless your agent is working as a buyer agent and is under contract with you to do so, he is working for the vendor.  All realtors…..even the one showing you homes, listening to your dreams about the house you want and your financial worries about the cost… work in the best interest of the vendor.   That means that by law Realtors must pass on to the vendor of the home you are bidding on any information that may influence the home buying negotiations.

While for years most Realtors have, at least subconsciously, been working for their buyers after getting to know and care for them, there has been no law that says they are …in fact the opposite is true. But how can a Realtor work on your behalf if he doesn't know your financial picture, know where you will compromise in your wants, what are your essential needs.  In short, how can a realtor find you your dream home if you can't tell them your dreams?

Vivienne offers a guarantee that any buyer who hires her as a buyer agent can cancel the agreement at any time

Who is that REALTOR working for?

In real estate there are 3 different possible forms of agency relationships: Vendor's agency, Purchaser's agency, and Dual agency.

1.Vendor's Agent
When a real estate company is a "vendor's agent," it must do what is best for the vendor of a property.

A vendor's agent must tell the vendor anything known about a purchaser. For instance, if a vendor's agent knows a purchaser is willing to offer more for a property, that information must be shared with the vendor. Confidences a vendor shares with a vendor's agent must be kept confidential.

A purchaser can expect fair service and disclosure of pertinent information about a property.

Nothing will be misrepresented about a property. All questions will be answered honestly.

2. Purchaser's Agent
A real estate company acting as a "purchaser's agent" must do what is best for the purchaser. A written contract establishes purchaser agency. It also explains services the REALTOR will provide, spells out who will pay and specifies what obligations a purchaser may have. Typically, purchasers will be obliged to work exclusively with that REALTOR for a period of time.

A REALTOR working for a purchaser will keep information about the purchaser confidential from the vendor.

3. Dual Agent
Occasionally a real estate company and its sales representative will be the agent of both the purchaser and vendor. Under this "dual agency" arrangement, the REALTOR must do what is best for both the vendor and purchaser and strict procedures must be followed. A REALTOR can be a dual agent only if both the purchaser and vendor agree in writing. Ask your REALTOR for more specific details. 

• REALTORS will be paid by the seller unless otherwise arranged with the purchaser at his request. The listing agreement states the  REALTOR's fee.
• Purchasers & Vendors will ALWAYS be told - in writing - who a REALTOR is working for.
• Ask your REALTOR for more information
• The Buyer's Agency Agreement is for your protection and Vivienne agrees to cancel at any time if you are not satisfied with her service.