Not all real estate agents are the same! It is important to choose a REALTOR® carefully before you begin to look at property. A REALTOR® is a member of the National Association of REALTORS® (NAR) and who abides by its Code of Ethics.
It is also important to choose a real estate company who is a member of the Multiple Listing Service (MLS). A member of the local Multiple Listing Service (MLS) is a REALTOR® who has joined a marketing organization for the purpose of being able to have ACCESS TO ALL OF THE LISTINGS of available properties in the area. Every listed property will be found in the MLS. (Only limited information on listings is available to the public via the internet.)
All sales associates at Eufaula Lakeshore Realty are REALTORS® and Eufaula Lakeshore Realty is a member of the Southeastern Association of REALTORS® Multiple Listing Service (MLS).
There is no need to call a dozen phone numbers off of real estate signs! Simply call EUFAULA LAKESHORE REALTY. We are real estate experts and can help you with all of your real estate needs!
An ABR® is an Accredited Buyer Representative. A buyer’s representative is a licensed real estate professional who represents prospective home buyers in their property transaction. If you’ve signed a Buyer Broker Service Agreement with a buyer’s rep, you can expect him or her to:
In other words, a buyer’s rep should make your home buying experience go as smoothly and successfully as possible.
But not all buyer’s reps are equal. We at Eufaula Lakeshore Realty have earned the Accredited Buyer’s Representative (ABR®) REALTOR® designation. We have made an extra effort to raise the bar, with additional training and experience in serving you, the home buyer. If you work with an ABR® from Eufaula Lakeshore Realty, you can feel more confident that you’ll receive the highest level of buyer-representation services.
A Buyer Representation Agreement is a legal document that formalizes your working relationship with a particular buyer’s representative, detailing what services you are entitled to and what your buyer’s rep expects from you in return. While the language used in the document is formal, homebuyers should view it as an important and helpful toll for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive.
1. RECEIVE A HIGHER LEVEL OF SERVICE.
If you’ve formalized an agency relationship with a buyer’s rep, you can expect to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services, relative to customers. While the details vary from state to state, and from one buyer’s agent to another, you can generally assume that being a client means that you’ve formed a fiduciary, or agency, relationship with your buyer’s rep.
2. GET MORE WITHOUT PAYING MORE.
In almost every case, home sellers have already agreed to pay a buyer’s agent’s commission. If they haven’t, you can ask your buyer’s rep to avoid showing you any such homes. Or you can still view the home, knowing that you’ll need to factor your agent’s commission into any offer you may write. While buyers rarely pay real estate commissions, this is an important detail you’ll want to discuss with your buyer’s rep and clarify in their representation agreement.
3. AVOID MISUNDERSTANDINGS.
A Buyer’s Representation Agreement clarifies expectations, helping your understand what you should and shouldn’t expect from your buyer’s rep, and what they will expect from you, which usually centers on loyalty.
4. AGENCY RELATIONSHIPS ARE BASED ON MUTUAL CONSENT.
While most representation agreements specify a time period, they can be terminated early if both parties consent. Most buyer’s reps are willing to end the agreement early if the working relationship isn’t going well. Some buyer’s reps also offer representation agreements for as little as one day, for the purpose of giving both parties a brief trial period to explore working together.
5. STRENGTH AS A TEAM.
When you and your buyer’s rep work together within a formalized agency relationship, you have created a team dedicated to helping you achieve the best possible home-buying experience.
Everyone deserves to be paid for services they render to others, and real estate professionals are no different.
For the most part, real estate professionals are compensated by commission, based on a home’s selling price. Commission rates are not standardized, but vary, as does how the sales commission will be divided between the real estate agents on the selling and buying side of the transaction.
There is consistency, however, in how commissions are paid. When a seller signs a listing agreement, their contract is with a brokerage firm. All fees must pass through that brokerage firm. Typically, the seller’s representative—and your buyer’s rep—will be paid by the listing broker after the transaction closes.
There are however, occasions where you may contract with your buyers representative to pay a fee if you decide to purchase a for sale by owner home. Discuss with your REALTOR® provisions for compensation should you decide to buy a home that is not listed for sale through a real estate agent.