Featured Content

What is a Buyer Representation Agreement?

What is a Buyer Representation Agreement?

What Is A Buyer Representation Agreement?

The first formal step before you purchase a home is establishing a “client agency relationship” with a Century 21 Real Estate Brokerage that commits to me as your Real Estate Professional to actively act as your agent to help you find your home for a specified period of time.  My services to you as a buyer agent are free of charge. My brokerage gets paid once we find your home by the selling brokerage.

Whether it’s a condo in the city, or a brick home in the suburbs, the search for your dream home is an exciting time. For many prospective buyers, the period between the decision to buy and the day you get the keys to your new home takes a back seat to your dreams of the exciting times ahead.

As a buyer, you need to be informed and educated throughout every step of the home buying process, and it can be challenging to set aside your search for the perfect window treatments when your agent is asking you to sign a document you don’t understand, like a Buyer Representation Agreement (BRA).

To help you tackle this, we are going to give you the short and sweet explanation of a BRA so you can get back to the decisions you’re excited about making!

What is a Buyer Representation Agreement?

This document defines your relationship between you and the brokerage, and how the agent will represent your best interests.

How is a BRA presented?

While the agreement can be written, oral, or implied, it will ultimately need to be reduced to writing with your signature in order to protect everyone involved.

When should you sign a BRA?

Like anything else you place your signature on, it’s important to fully discuss and understand the services provided, the cost related to the services, and that the written agreement is clear. Typically a BRA is signed before you begin working with the real estate agent.

What will happen if you don’t sign?

According to the Code of Ethics, the broker and salesperson must protect and promote your best interest as their client on top of being fair, and honest. While you are able to choose to be a customer rather than a client, be aware that there could be some differences in how you are represented.

What is a holdover clause?

This means that once your BRA expires, if you purchase a home after a certain number of days (usually 90) that came to your attention during the BRA, you must still go through the agent to purchase the home.

For more information on choosing the RIGHT real estate agent to enter a BRA with, check out our post on how to choose a real estate agent. Keep coming back to learn more about the many other important home buying steps so you can spend time where it really matters! Are you ready to take the next step? Contact Realtor Sean Findlay by filling in the contact form below.

This article is now complete. Click here to read more Blog Articles

If you have any questions, please contact us using the form below:

Contact Us

Thinking About Buying or Selling Your Home? Use the form below to contact us. We look forward to learning more about you, and how we can help you achieve real estate success.

"*" indicates required fields

FindlayRealEstate

Recent Posts

Learn About Our Home Downpayment Assistance Program In Our Upcoming Zoom Seminar Series

Learn About Our Home Downpayment Assistance Program in Our Upcoming Zoom Seminar Series Are you…

4 days ago

Luxury Basement Apartment for Rent in Mississauga – 5900 Greensboro Dr

Luxury Basement Apartment for Rent in Mississauga – 5900 Greensboro Dr Looking for a modern,…

2 weeks ago

Canada’s New Mortgage Rules 2025: What Homebuyers Need to Know

Canada’s New Mortgage Rules 2025: What Homebuyers Need to Know Effective December 15, 2024, Canada…

2 weeks ago

2274 Chapman Court, Pickering – Featured Home For Sale!

Discover Your Dream Home in Pickering's Prestigious Brock Ridge Neighborhood Welcome to 2274 Chapman Court,…

2 weeks ago

Essential Upgrades to Boost Your Home’s Value Before Selling

When selling your home, strategic upgrades can significantly increase its market value and attract more…

3 weeks ago

How to Build and Improve Your Credit Score Before Buying a Home

When it comes to buying a home, your credit score can be one of the…

1 month ago

Welcome To FindlayRealEstate.ca | This website uses cookies.