Working with a Licensed Realtor, Part 1: Presumed Buyer’s Agent
Congratulations on making the first big step in buying a home – deciding to buy a home! Now, you need to select a licensed realtor to work with. Of course, this brings up a question: Who Does Your Realtor Represent When You Are the Buyer? That’s a good question!
The real estate agent can operate in three different ways for the buyer. They can be a Presumed Buyer’s Agent, a Buyer’s Agent with a written representation agreement, or a Seller’s Subagent cooperating with the Seller’s Agent. Today, let’s talk about a Presumed Buyer’s Agent.
Let’s say you decide you want me to show you some properties you’re interested in. As a Presumed Buyer’s Agent with no written agreement, I can show you any properties you are interested in, whether or not they are listed by my real estate company. That’s where it ends though. Without an active agreement, I cannot make or prepare an offer or negotiate the sale of the property for you. To move any further in the process with me or anyone from my team, we must sign a Buyer’s Agent representation written agreement.
Next week, we’ll talk about the next type of Buyer’s Agent, the Buyer’s Agent With a Written Representation Agreement. In the meantime, let me know if you have any questions about the home buying process!
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Emcee Arah
EMA Team of Samson Properties
RE/MAX Excellence Realtor with Architectural Dimension
Licensed to serve all of your Real Estate needs in MD, VA & Wash., DC
