What F&F Offers :: Agency Representations :: What F&F Will Do
How Flavin & Flavin Will Market Your Property :: Buyers Representation

Buying a Home is a Big Decision and a Personal One
You Need the Right Person to Find a Home that Suits Your Needs

So you've decided to buy a home.

Purchasing real estate is a complex and major transaction with many details to be handled.  Depending on the laws in your state and the business arrangement you have with a licensed real estate agent, that agent may actually be negotiating for the seller, not you, the buyer.  The best way to be certain that an agent is working in your best interests is by signing a buyer representation agreement with an agent.

Please read the following important information on Buyer Representation and the Buyer Representation Agreement.

What is a Buyer Representative?

A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction.  Research by the National Association of REALTORS has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.

The buyer's representative works for, and owes fiduciary responsibilities to you, the real estate buyer and has your best interests in mind throughout the entire real estate process.  Your buyer's representative will:

  • Evaluate your specific needs and wants and locate properties that fit those specifications.
  • Assist you, the buyer in determining the amount that you can afford (pre-qualify) and show properties in that price range and locale.
  • Assist in viewing properties—accompany you, the buyer on the showings or preview the properties on behalf of the buyer to insure that the identified specifications are met.
  • Research the selected properties to identify any problems or issues to help you make an informed decision prior to making an offer to purchase the property.
  • Advise you on structuring an appropriate offer to purchase the selected property.
  • Present the offer to the seller's agent and the seller on your behalf.
  • Negotiate on your behalf to help obtain the identified property—keeping your best interests in mind.
  • Assist in securing appropriate financing for the selected property.
  • Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
  • Most importantly, fully-represent you, the buyer, throughout the real estate transaction

The Buyer Representation Agreement

It is important for the buyer to discuss the buyer's representative's compensation in the initial interview.  In many cases it is recommended that the buyer and the buyer's representative agree to the terms of compensation prior to viewing properties and sign a written agreement based on those terms.  The agreement should spell out the responsibilities of both parties throughout the real estate process.

In some states, legislation has been enacted to protect the buyer to the point that, absent a written agreement, the buyer's representative represents the buyer throughout the real estate transaction.  Consult your REALTOR for complete details when you begin the purchase process.