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Why is my brother asking me to sign this document?

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11/03/2015 | Author: Legal Staff

My brother, who’s a real estate broker, asked me to sign a buyer-representation agreement before he helps me find a house. I trust him completely. Why do I need to sign some paper?

The short answer: to protect both of you.

The buyer representation agreement spells out many aspects of a broker-client relationship, including how he will be compensated, your agreement to work exclusively with him, and his agreement to help you find a property and negotiate the deal.

In addition, as a member of the National Association of REALTORS®, your brother is obligated to comply with NAR’s Code of Ethics, which sets strict standards on REALTORS®’ duties to clients and customers, the public, and other REALTORS®. The code requires REALTORS® to assure whenever possible that agreements—like a buyer representation agreement—express the specific obligations of the parties in writing and in clear and understandable language. 

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Categories: Ethics, Forms, Buyers
Tags: homebuyers, buyers, first-time homebuyers, forms, ethics, code of ethics