Buying a Newport Beach Home – Should You Sign a Buyer/Broker Agreement?

Are you considering purchasing a Newport Beach home for sale? If you are, and are considering working with a Realtor, here is an important consideration for you. Many Newport Beach real estate agents, and brokers utilize Buyer/Broker agreements. When you sign this agreement, you are committing yourself to working with that real estate agent.

Not all Realtors utilize buyer/broker agreements, and will work with an agreement that you are working together.

The advantages to having a buyer/broker agreement are to ensure that the agent who spends the time scheduling appointments, showing you homes, and guides you through the real estate process gets compensated for their time. Buyer representation agreements are similar agreements that you may sign when you hire other professionals. It is a business relationship, and some agents do utilize them.

Buying a Newport Beach Home - Should You Sign a Buyer/Broker Agreement?I have used buyer/broker agreements from time to time, however I appreciate the loyalty of my clients and customers. Understand that Realtors do not get paid for open houses, scheduling appointments, showing homes, printing out buyer tours, preparing comparables, writing real estate contracts, guiding you through the process and marketing. Realtors get paid when they either sell a home, or rent a home.

When you have decided to work with a Realtor, they may ask you to sign a buyer representation agreement. This agreement also ensures that your Realtor is 100% committed to you as a Newport Beach home buyer. The Real Estate market is an interesting industry, and sometimes buyers will jump ship to work with another agent who is their “sister´s husband´s cousin who works part time at selling real estate”.

At the end of a day, you want a full time professional Realtor to guide you through the process.

I have had potential buyers tell me they would like my assistance in finding a home, and one of the first questions I ask, is if they are working with someone. I recently had a scenario when the potential buyer was working with someone but wanted to “work with me too”. I explained that I do not work that way, and in fairness to the other agent, it was not fair to that person either.

If you have any questions about a buyer/broker agreement, or the Newport Beach home buying process, please contact me.

3 thoughts on “Buying a Newport Beach Home – Should You Sign a Buyer/Broker Agreement?”

  1. Avatar of larry brewer

    Sharon – I’ve had buyers who said they didn’t want to commit to just one realtor while they were looking at home. I usually ask them who they worked with last, and if it’s someone I know, I call that agent and tell them what’s happening. You can’t trust people who won’t even commit to who they want to work with. IMHO

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ABOUT ME

Sharon Paxson is a full-time REALTOR® with Compass and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyer’s, Seller’s, Landlords and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with a top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

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