Buyer's Agent Agreement? Can you go Without?

Can you buy a home WITHOUT a Buyer’s Agent Agreement? (BRBC Contract) Absolutely (YES, YOU CAN), but it’s like going into a legal battle without a lawyer when your opponent has a whole team. Technically possible, but not the wisest move. So, while it’s an option, I wouldn’t exactly recommend it for buying a home here in San Diego.

The rules in real estate have changed. You must now sign a Buyer’s Representation And Broker Compensation Agreement, CAR Form “BRBC Contract,” before viewing houses with a real estate agent. This change is in response to a class-action lawsuit loss (Sitzer-Burnett) by the National Association of Realtors in Missouri. (Yes, a lawsuit loss in Missouri in 2024 has changed the laws in San Diego).

If you’re looking to buy a home in San Diego, feel free to give me a call. I will walk you through the “BRBC Contract.” (It’s good stuff for you.) Looking for your home with me as your professional realtor will ensure you get the best deal possible, with expert negotiations and strategies to buy your San Diego home.

Buyer's Agent Agreement "BRBC"... What is it?

A BRBC Signed is required to view properties in San Diego. It clearly states all the responsibilities we share when buying a home. For example, the Buyer’s Representation And Broker Compensation Agreement BRBC Contract states that I must choose a side to work for. I will choose to work with you, the buyer, and represent you against the seller.

With an exclusive agreement, you are hiring me to work for you at no charge until you buy a house. The agreement will clearly state my compensation, and I cannot charge more than what is in the contract.

By signing this agreement, you will have confidence in knowing my responsibilities are listed in writing, allowing you to hold me accountable. It will help you make informed decisions and secure the best possible deal.

The agreement is simple but lengthy due to beneficial Advisories & Disclosures from the State of California attached, which make it look longer than it actually is. I would like to meet with you and walk you through the buyer’s agreement, as it truly benefits you, the home buyer.

[email protected] or Call me at 858-330-1242. Looking forward to talking to you.

Commissions Who Pays what?

Buyers and sellers now have separate concessions. NOTE: Commissions are now called Concessions, and they have always been negotiable.

Previously, sellers covered both sides’ commissions. However, due to a recent lawsuit, there has been a change. Now, each party pays its own commissions, leading to separate concessions. Unless I negotiate differently with the seller. I will need the BRBC to gain the power to negotiate with the seller to accomplish this.

This CHANGE can be challenging for buyers who might not have the extra funds to cover their agent’s 3% concession. This negotiation will be a key point during the signing of the Residential purchase agreement. (RPA)

I will help you develop a strategy to navigate the contract, asking the seller to cover all the concessions or discount the price with concessions financed into the loan. If you work with me, I have many options/strategies available.

Fortunately, I excel at negotiation. (It’s why I chose to be a Realtor.) Let’s talk. Call me, and we can set up a buyer’s Consultation at my office. We can discuss a plan to get you in the house you want.

Buyer's Agent Services

Confidentiality:

Unlike friends or neighbors of Real Estate agents, I keep your financial details private. You don’t have to worry about another neighborhood agent knowing your equity, debts, or financial situation. Do you really want your friend knowing what’s in your bank account or your net worth? By working with me, your personal financial information stays confidential. Because I am not in your social circles, this ensures privacy.

Experience:

I have extensive experience Negotiating Real Estate Deals. Therefore, you can be assured I will secure the best terms possible for you. Besides, I work with a TEAM of Berkshire Hathaway HomeServices, Real Estate Professionals, with in-house Lawyers on staff ready to lend assistance and advice. (If I need the Help)

Personalized Consultation:

I invite you to my office in La Jolla at 1299 Prospect Street for a dedicated buyer consultation. Unlike a busy coffee shop, it’s a professional setting designed specifically for our discussions.

Abundance of Choices Offered:

First-Time Buyer Programs:
- These often include lower down payment requirements, reduced interest rates, and assistance with closing costs. Programs like FHA loans and state-specific assistance can be beneficial.
Minority Programs:
- There are specialized programs aimed at supporting minority groups in achieving homeownership. These can include grants, low-interest loans, and educational resources.
Military Programs:
- VA loans are a significant benefit for military personnel and veterans, offering no down payment, no private mortgage insurance, and competitive interest rates.
Senior Programs:
- Seniors may qualify for reverse mortgages, allowing them to convert part of their home equity into cash. Other programs might include tax deferrals or exemptions.
Relocation Programs:
- Employers often provide relocation assistance, which can cover moving expenses, temporary housing, and sometimes even home purchase support.
Countless Other Options:
- This category includes loans for local programs that offer various forms of financial aid. You can buy a home!

Each option has specific eligibility requirements and benefits, so it’s crucial to tailor the discussion to your unique situation and needs.

Search for your Favorite Home! Use a Buyer Agent

Contact Mike Frey Your Buyers Agent

Looking to buy a house in San Diego? Contact me! If your dream is to buy a home, I am confident that I am the best realtor to help you accomplish this goal in the San Diego area.

Please check out the rest of the website, lot's of good stuff.

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December 17, 2024 No Comments

Buyer's Agent Agreement? Can you go Without?

Buyer's Agent Agreement "BRBC"... What is it?

Commissions Who Pays what?

Buyer's Agent Services

Confidentiality:

Experience:

Personalized Consultation:

Abundance of Choices Offered:

Minority Programs:

Military Programs:

Senior Programs:

Relocation Programs:

Countless Other Options:

Search for your Favorite Home! Use a Buyer Agent

Contact Mike Frey Your Buyers Agent

Please check out the rest of the website, lot's of good stuff.

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Sell, Sell, Sell

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