One of the top questions we get here at Madison Neighborhoods is "What is buyer agency in a real estate transaction?" It’s a voluntary service contract between the buyer and the brokerage that outlines the duties that are owed to you as a client. There is no set time period for this contract, so it can be as short or as long as you would like it to be. Our buyer agency agreement isn't binding, so anytime that you want out, we will expire the agreement and let you go. Therefore, when you work with us you don’t need to be worried about being locked into a long buyer agency agreement.
What are the benefits of buyer agency? My team will act as an advisor for you and give you all of the necessary information you need during a transaction, including advice. We will also negotiate on your behalf, and we will always put your best interests before anyone else's. When you sign this contract, it means that we will be working to meet your goals - not our own or anyone else’s.
Some people seem to think that they should work with a listing agent... This is not a good idea, because the listing agent is working for the seller, and not for you. As your buyer agents, we work on your behalf and yours only.
So, who pays the buyer’s commission? Actually, the seller pays the buyer’s commission, so, essentially, you're getting all of these benefits for free. There really is no reason not to hire a buyer’s agent.
Please contact us if you’re interested in a consultation about your goals and purchasing a home in the Madison area. We're always here to help!