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Use the Advantage of Buyer's Representation
The state of Texas makes it possible for buyers to hire an agent to represent their
interests during the purchase of real estate. This is called "buyer's
agency." There are many advantages of buyer's agency:
- Assistance in finding properties with amenities and the price you desire
- Arranging showings of those properties
- Providing information about all forms involved in the buying process
- Providing you with a comprehensive price analysis, as well as any relevant information that affects the value of the home you intend to purchase
- Assistance in writing an offer with your best interests foremost
- Discussion of risk management as a buyer - the importance of inspections and home warranties
- Negotiating on your behalf, and keeping your negotiating position confidential
- Assistance in determining and controlling closing costs
- Providing access to financing options
The Texas Association of Realtors (TAR) has created a brochure called
"Information About Brokerage Services." On your first appointment with a
Mira Vista Realtor, we will share this brochure with you. It explains Realtor
representation in detail. Remember that in Texas, Realtors represent the seller by
default. Please exercise caution when discussing properties with any Realtor who
does not represent you.
What Does Buyer's Representation Cost?
Traditionally, the buyer's agent is paid from the brokerage fee charged to the seller
at the close of the sale. When this is the case, buyer's representation is a no-cost
option for the buyer. Sometimes, circumstances require the buyer to compensate the
buyer's agent directly. We will discuss the issue of compensation prior to signing
an agreement to represent you. Mira Vista Realtors will not charge you a brokerage
fee without your written consent.
How Can I Guarantee Representation?
Enter into a Buyer's Representation Agreement with your Realtor before beginning an
intensive search. The Buyer's Representation Agreement was created by the Texas Real
Estate Commission (TREC) to define the standard relationship between buyer and
Realtor. You may tailor this agreement to fit your needs as a buyer. A Mira Vista
Realtor will explain all your options, and work with you to best meet your needs.
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