One of the most common misconceptions that is shared by a large number of property Buyers, especially in these rural areas, is that when working with a Real Estate Broker or Salesperson (Agent), that the Agent will “automatically” be representing you as the Buyer. 

Unless this is specifically disclosed in writing, the Agent (Realtor) will NOT be representing you, but will be representing the Seller only.  For example, if you call Agent A (without signing a Buyer’s Representation Agreement with another brokerage company), to go look at a property listed by Agent A's company, then Agent A will be legally representing the Seller, NOT YOU as the Buyer.  You will be "on your own" and any negotiating strategies or information you have disclosed to Agent A must be revealed to the Seller.  Although this is perfectly legal and it is more convenient for all parties when only one Agent is involved, you as the Buyer, in this situation, just do not have anyone looking out for your best interests.

This is why it is imperative that you enter into a Buyer’s Representation Agreement with a Real Estate Salesperson or Broker of your choice before ever even calling an agent to look at a property listed for sale.

You do not have to use a Salesperson or Broker with the brokerage company who has the property listed for sale.  If you do, you will not have anyone representing your best interests.  So you should hire who you want to represent you, sign a Buyer's Representation Agreement, and then feel confident that your interests are being looked out for.  

As far as brokerage fees (commissions) go, 99% of the time the Seller pays the commission not the Buyer, because the Seller had already agreed to pay the commission when they listed the property.  

We are here to help and can represent your interests as the buyer when you get ready to purchase a property listed by another brokerage company or a property listed for sale by owner. Just give us a call before calling the other company or owner to avoid any hard feelings between everyone later in the process.

And remember when you are buying property listed by Chad Holland Real Estate, we are representing the Seller, not you as the Buyer.

I know this is complicated, so if you have any questions, please feel free to call or email me.  I cannot give legal advice so you should contact an attorney of your choice for any legal advice regarding the agency relationship.

Chad Holland
Broker
chad@chadhollandrealestate.com
806-205-0497