In my opinion, it would be wise to be sure that you have a clearly defined understanding of the agents obligations and responsibilities to you as a Buyer before committing to a signed contract that may extend for months. Obviously it would be prudent to ascertain if the agent is a full time agent or a part time agent? How long have they been in the business? How many homes do they sell a year? How well do they know the market area in which you are considering buying a home? What specifically are they going to do for you in securing the Buyers Agency contract? Are they going to pre-screen the inventory? Are they going to view all the homes that you are considering with you? Will they point out obvious, and more important not so obvious, issues with the home and area which directly affect property values? Personally i do not think that it is inappropriate for a Buyer to get this commitment of responsibilities and understanding in writing from the agent. This protects the Buyer, as these contracts are in fact with the agents Broker and if the agent is not fulfilling the commitment as outlined the Buyer may get the Buyer Agency contract negated by the Broker.
FYI on a personal note, in 467 transactions that i have successfully completed, i have only once asked a buyer to sign a BRA. This was only because i felt a bit tenuous about this particlar buyer’s loyalty to me and our common goal. 
Is this a document the agent comes up with or is it something the buyer designs?
Or is it a collaborative document?
Anyone ever used one? I didn’t but my agent was stellar.
These are standard RECO – OREA documents provided for a BUYER to consider! The BUYER is under no obligation to sign same!! Basically you are committing to a financial contract and obligated to only deal with the agent, with whom you are under contract, for a defined time frame or geographical location.
Most agents request that you sign these as it does give that agent some reassurance that if he – she is committed to finding you a property, you are equally committed to them.
I cannot stress enough the importance of establishing that the agent will be diligently working with you …. working on your behalf …. he/she is a professional agent who is market savy and understands “their” obligations under the contract. FYI unsolicited references from satisfied clients are a good source of info to establish your “comfort” level in signing a contract with an agent. In the end, this contract protects the Agent if you purchase a property through another agent during the contractual period.
This seems to be where potential problems can occur!
My post suggests the potential pit falls that may happen when signing such a contract – commitment! The BUYER should get – have a good sense of the Agent and have a clear understanding of the Agent’s responsibility to the BUYER under the contract when/if they sign the contract. However in my opinion, you can be “committed to” and be “fully confident” in an Agent without a contract.
Personally i never ask a BUYER to sign these contracts. I always tell BUYER prospects that IF they are not happy with my sevices and my commitment to them …. simply fire me!! LOL that has never happened!!
A BRA should be considered mandatory in all negotiations for a property. This agreement will help level off expectations and clarify roles and responsibilities. Both parties should have the same mindset and should know what they are getting into.
That is the issue with the BRA’s though …. the Buyer is signing a contract to work “exclusively” with that agent!
As you suggest “both” parties should have a clear understanding of the expectations, clarification of roles and responsibilities.
With over 38,000 registered agents in the GTA …. far too many agents do not get that unfortunately!!
From your description, it seems understandable and quite reasonable for both the buyer and the buyer’s agent to agree to a BRA. I can’t imagine why a serious buyer and a professional buyer’s agent wouldn’t want some sort of contract to lay down the guidelines of their relationship and expectations — especially when this agreement has a time limitation attached to it. It seems to me that it would give both sides some peace of mind.
I disagree with the buyer agreements. I think these benefit the real estate agent, and I would personally like to be able to decide when I am finished working with an agent. Having worked in commission sales before, I understand how it is when you spend a lot of energy on someone, and they buy elsewhere. However, the consumer decides who earned their business, not the sales person. Everything described in this article is part of the real estate agent’s fiduciary responsibility to their buyer that they agree on when they receive their license and become a member of the National Association of Realtors. The rest of the information is valuable to know, but not necessary to include in a contract that commits you to the agent.
I would like to clarify that my previous comment pertains to real estate agents in the United States.
I could not have said it better!!!!
It might be a good idea to sign short term buyer agreements, that can be renewed when they expire.
I have been looking everywhere for this kind of information! I did not know some of the essential things I should ask before signing a contract. I like BRA. However, I do not like the idea of only being able to exclusively work with one agent only. Do people often work with more than one agent?
You are under no obligation to sign a BRA.
However selecting a full time, professional agent to work with you, as i have discussed in different postings, is very important.
Only once did i ever have a buyer sign a Buyer Representation Agreement as i feel that if we do not work well together they or i can terminate our relationship. LOL that being said, i have never been “fired” by my clients!
This particular article, “BUYER REPRESENTATION AGREEMENTS (BRA) THOUGHTS – Realty Drama” illustrates the fact that you fully understand
just what u are talking about! I personally entirely agree with your post.
Many thanks -Rochell
Thanks
Should be signed upon agreeing to work together, too many times we as agents trust clients to stay committed to us and value our work but the truth is most people look out for their own best interest and do not at all have consideration for the work and time we put in!
I only have BRA signed when drafting the offer. Most buyers don’t want to be tied to an agent from the get go IMO, and if they aren’t happy with the agent they shouldn’t feel obligated to stay with them. I’m confident enough in my service they won’t stray elsewhere
Totally “‘ditto”"