Should I sign a Buyer Agency Agreement?

Another excellent question from a client today! "Should I sign a Buyer Agency Agreement?"

The answer is - Probably, but it depends.....

First, remember that Agency rules differ from state to state, so if you are not buying a home in Washington State, Bremerton, Port Orchard, Silverdale, Poulsbo or surrounding areas, you will need to clarify agency laws in your state.

Most clients will want to sign a Buyer Agency Agreement. In the contract, make sure your agent spells out exactly what you can expect from them. For example, what type of home will you be finding for them, and where will the home be? How long will it take them to return your phone calls or emails? How does their pay structure work?

In Washington State, you do not need a written contract to establish that a particular agent is your Buyer's Agent or Buyer's Representative. Some people are hesitant to sign such a contract, and I can understand the reasons why.

What if you sign a contract with a Buyer's Agent in Kitsap County and then find out that the agent really has no idea what they are doing? Or that they don't know the area? Or perhaps they are too busy to help you? Excellent reasons to spell out certain things in the contract ahead of time...

If you do not want to be contract-bound to an agent right away, ask them to take a day to meet with you and perhaps show you homes for sale in Bremerton, Silverdale, Port Orchard, wherever, for a day before you decide whether you will work together successfully. As an agent, I want to make sure that we will make a good team before I agree to work with you and you agree to work with me. It is in both of our best interests.

Before you sign anything, always read it and make sure you understand it! In Washington State, if you sign a contract, the courts usually interpret that to mean that you have read the document, that you understand the document, and that you agree to the terms in the document. If you don't understand what you are signing, make sure you find out. Asking questions is a good thing!

So in most cases, yes, you will want to sign a Buyer Agency Agreement. It protects not only the agent, but you, the buyer, as well!