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Buyer`s Agency Agreement Washington State

A buyer`s agency agreement, also known as the Buyer`s Representation Agreement, is an agreement signed by a potential buyer that authorizes a licensed brokerage company and, as a rule, a particular real estate agent with the brokerage company to represent the buyer when buying a home. Different markets have different standard forms of the agreement, like many brokerage firms too. Prospective buyers sign buyer`s agency agreements to confirm their obligation to cooperate with a brokerage company or agent and to assure the company or agent that they will be compensated in the event of a sale. The duration of the agreement is negotiable. Apart from that, real estate agents do not appreciate buyers who use their time, effort and services to look at real estate and then buy one of these real estate behind the broker`s butt. Many agents working with buyers have never had their buyers sign anything. These agents either have a high level of comfort, that the clients they work with will continue to work with them during the home purchase process, or they agree when buyers switch to other agents, as they may be relieved that they no longer have to work with a particular buyer. (This happens more often than you think.) There is a purchase agency agreement between a real estate agent, also known as a “seller,” who agrees to display real estate for sale to a potential buyer in exchange for a commission when a transaction takes place. The real estate agent known as the “buyer`s representative” and the buyer enter into this agreement either on an exclusive or non-exclusive basis, before showing real estate to the buyer. As a general rule, when the posted property is listed with a separate real estate agent, the two brokers will agree to split the commission indicated in the agreement between the listing broker and the seller. Redfin does not ask customers to sign a contract through a buyer`s agency until they submit an offer for a home (unless required by local law).

The agreement is only necessary to ensure that there is no misunderstanding regarding the commission and refund of the customer. If the offer is not accepted, there is no obligation to continue working with Redfin. And if you are never satisfied with our service, you can terminate your contract at any time.