Navigating alone through the contract details, loan application, appraisal reports, inspections and repairs can be a daunting process. Hiring a buyer’s agent from Howard Hanna can save you time and money, and reduce your stress.

Why You Have to Sign a Brokerage Agreement

The state requires all brokerage agreements to be put in writing before the agent can begin to act on behalf of a consumer. The intent and purpose of “getting it in writing” is to keep consumers fully informed about the real estate services they will receive and the nature of their relationship with the licensee. It removes ambiguity and puts everyone on the same page.

What is in the Brokerage Agreement

The key elements of the written agreement are a description of the duties and services that will be provided by the agent, the time frame for the agreement, and the amount of the brokerage fee and how it is paid.

Time Frame for the Brokerage Agreement

The agreement might be for a single day, for a month, or several months. It can also be written to apply only to a particular property address.

The Brokerage Fee

Howard Hanna’s brokerage fee is a combination of a percentage of the sales price of the property and a flat fee. In the current market, sellers frequently offer to pay a significant portion of that fee. In some cases, the seller pays for the entire brokerage fee due to the buyer’s agent.