Consumer’s Guide to a BRA-what’s in it for YOU?

BUYER POV: I just want to buy a home. What is all this hoopla about a BRA?

Last week we introduced the BRA (Buyers Representation Agreement)

Starting August 17 a major shift in the real estate industry will take place. There is a new rule nationwide ALL buyers will be required to sign a Buyers Representation Agreement (BRA) prior to viewing a 🏡🏡🏡 Here are some quick things YOU as a buyer want to know:

➡️The length of the agreement is negotiable.
➡️You do NOT need to have a signed agreement to view an 💥 Open House
➡️It may be also be called a Buyer Broker Agreement
➡️The agreement outlines the duties of the agent in representing YOUR interests
➡️The form you sign with your agent may be a company form or a state form.
➡️It states what the Brokerage company/agent will be paid.

Please understand there are 3 ways the agent can be paid
Option 1: The seller will pay the agent, as has traditionally been done
Option 2: The buyer will pay the agent either directly or as part of closing costs
Option 3: The fee will be negotiated as part of the offer to buy the home

➡️We are being very transparent about how realtors are paid.

Don’t worry about this now! The changes were put into effect to protect the consumer-that’s YOU. An experienced real estate agent will know the rules and navigate this process for you.