As part of a mutual agreement, you can elect to create a buyer agency relationship between yourself and an agent that will entitle you to the fiduciary client level services as follows:
- Account for Money
As a buyer’s agent, I will represent you and your interests in the purchase of your home. This is different from a typical sub-agency transaction where the buyer is not technically represented.
Agency is a legal relationship and a written agreement must be completed to establish this relationship according to the laws of Kansas and Missouri.
The agent must work in the best interest of the client
The agent must follow your instruction
The agent must disclose all material facts
The agent must keep your information confidential
5. Account for Money
The agent must tell you where the monies are placed
How the Commission is Paid
When the Seller hired an agent to place his/her home on the market, the Seller signed a Listing Agreement with the firm the agent works for. This agreement states the amount of commission to be paid.
In this agreement, the Seller asks his/her agent, [the listing agent,] to compensate the agent of the Buyer by paying a portion of the commission to the buyer’s agent’s company and then to the agent.
Making this payment to the Buyer’s agent in no way creates a relationship between the buyer’s agent and the seller. It is just a directive from the seller so that buyers who want to be represented by an agent will be able to use their money to purchase a home.
Some real estate companies charge a fee to the Buyer.
Crown Realty does not adhere to this practice and does not charge the buyer any additional fees!!!
You will have no out-of-pocket expenses by hiring me for the job of being your agent!