Mike’s Real Estate Show

The greatest state of California has three “Buyer Broker” agreements. They differ in levels of “exclusivity” as to representation to you the Buyer. There ARE Realtor/Licensees who do NOTHING but Buyer Brokerage. They DONOT take listings as this is NOT what they do. Regardless if you use or don’t use a “Buyer Broker” contract it still needs to be gone over as it explains SOOOOOOOOOOOO much in the relationship of the Buyer and all parties to the contract (agents/sellers).
  If you’ve ever sold a home before you NEVER do this without a “listing agreement”. Most Realtor/Licensees grab a buyer and head out the door! You need an in-depth explanation of what is going to happen along the merry road to homeownership. Going through a “Buyer Broker” agreement is THE best way to proceed. Your Realtor/Licensee may do any of the following:
1. Insist you sign the “Buyer/Broker” contract where they are the exclusive buyer’s agent.
2. Allow you a 24 hour cancellation of this contract if you do not think it is working.
3. Sign a less “exclusive” buyer/broker contract with you.
4. State their compensation will be paid solely by the Seller and agree to a fitting amount with any overage credited to you.
5. Have YOU be the sole compensation source for their brokerage fee (after all, YOUR loan proceeds AND YOUR down payment is actually paying for everything!)
6. Do any of the above combinations.
  It all boils down to “representation” and having a reliable professional working exclusively towards finding you a home without the uncertainty you’ll see a nice house at an open house and buy directly from the listing agent!  You need an advocate fighting for you in this marketplace to make sure your new home fits your criteria as to price, terms and condition.  The “accreditation” process is good as this professional has made a monetary and time commitment to expand the services they offer a buyer. I hope this helps!