16 Aug Understanding your Buyer Representation Agreement.
Original article via Huffington Post. Click here to read.
There’s nothing like the humdrum of paperwork to bog down the excitement of a house hunt. But much like opening a new bank account or purchasing a car, buying a home comes with its fair share of contracts to sign and legalese to decode.
Arguably the first contract that comes into play for buyers is a Buyer Representation Agreement (commonly abbreviated to BRA).
A BRA is a legally binding contract that puts in writing that you will work exclusively with one real-estate brokerage for a certain amount of time. So, why would you sign a BRA as a buyer and what do you need to be aware of before putting your name on the dotted line?