What is “buyer agency”? Buyer agency is the
highest level of client representation afforded to a buyer by a real
estate professional. When you engage a “buyer’s agent” your real
estate professional is required to represent your interests as long as
those interests are not illegal.
Why is this of value to me as a buyer? The seller of a
property is represented by the “listing agent”. In negotiating price
and terms, the seller has an advocate to represent their interests, but,
unless you have executed a buyer agency agreement with your agent, your
interests may not be represented.
What is required of me as a buyer to be afforded this level of
representation? A written and signed “buyer agency”
agreement is required by Georgia law.
What will a real estate professional do for me as my buyer’s
agent? You will be afforded a higher level of service. Your
buyer’s agent will analyze information such as comparative market data,
advise you on negotiating and wording a purchase agreement, and, in
general, act as your advocate in the purchase process.
If I decline “buyer agency”, who represents my interests? If
you decline “buyer agency”, you will not have a representative to look
out for your best interests. In fact, your agent may be required by law to
represent the interests of the seller.
