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. Learn more about buying or selling with a Redfin agent. Could you go to a dealership for the rest of your life? Do you want to stay with a health insurance agent, an insurer, the same family doctor — all the same teams, as long as possible? The answer to the buyer`s agent agreement (AKA-buyer-broker agreement, AKA-buyer replacement agreement) lies in the question of how to answer these questions. It depends: do you like consistency or do you like freedom of choice? The buyer agrees to work only with the broker and agent you have chosen. The expectation is that you don`t ask another broker to go into a relationship with you during the schedule of the agreement to help you buy a home. By signing, you agree to pay a commission to this broker if you buy a house during the term of the contract. If you signed contracts with several agents, you would be indebted to each of them for an agreed commission, even if only one of them really helped.

No one wants that. Also note that not all buyer representation agreements are exclusive. The terms of a non-exclusive agreement can only extend to real estate within a given price range or within a given geographic area. Realtors generally do not enter into non-exclusive contracts, but as a buyer looking for your own interests, it may be best to have several people work on your behalf until you have decided whether you can fully trust one person. Remember that a buyer`s agent doesn`t just find good potential properties for their client. And your work doesn`t stop if you made an offer and accepted it. There are many other places where a buyer`s agent can help or hurt. Ideally, they can recognize in the contract things that are unfavorable to their client. As a trusted lender, you can refer to trusted professionals in their circle. They can also help their customers understand some potential challenges or disadvantages when buying in a particular development or neighborhood.

If you have found an agent who is strong in all these areas, then it might be worth getting it completely on your side by signing a contract. As a general rule, there are four key areas of an exclusive buyer agent agreement. Depending on when your agent asks you to sign it, if it`s that first day, if you seem innocent at Starbucks and you have no idea when you`ll find a house or the day you make an offer, there`s a portion that may be more valuable than others.