But don`t worry. If an agent you want to work with presents you with a buyer`s agent agreement, it`s not a sign that you`re going over your head. If you understand what`s in the contract, ask the right questions and work with your agent to negotiate a deal that works for both of you, you can trust that you`re about to find your new home. Duration: The duration is the period during which your contract is active. Many contracts last about 90 days, but as long as you and your agent agree, they can be as long or as short as you like. The language of duration may also contain instructions on what happens when the contract expires, if you have not yet found your new searches – if you extend the contract, renegotiate the terms, share the parts, etc. Remember that waiting for time is the easiest way out of a contract you don`t want to be in, so think carefully about signing a little over six months. Browse the home lists, dream of the next chapter of life, finally reach your goals for your home – these are all the exciting things you look forward to when you decide to buy a home. And while all this is definitely part of fun and games, the staff of a real estate agent and their buyer`s agent agreement could get you out of the dream home buying country for a second. Think about it: if you`re shopping in a store and a sales agent really took the time to help you find exactly what you were looking for, they deserved the commission on your sale. Well, let`s say, after all the work of the salesman, another who fights directly at the end, calls you and takes the order of the first employee. I don`t agree, do you? This is the kind of amusing deal that a brokerage contract protects a real estate agent against.
Across the industry, different real estate agents and agents have their own versions of buyers agents` agreements – they might even call them like other things. But whether your agent presents you with a brokerage contract, a buyer representation agreement or a buyer brokerage agreement, there is really no difference between them. So whatever version you fall, you just want to make sure you`re looking for these important details: Compensation: You`ve probably heard that the home seller normally pays commissions from sellers and buyers` agents (yay!).