Buyer Representation and Broker Compensation Agreement
(BRBC)
The Buyer Representation Brokerage Compensation (BRBC) agreement plays a crucial role in facilitating transparent and fair compensation between real estate agents and their clients. For real estate agents, the BRBC agreement ensures that they are fairly compensated for their services by outlining the commission structure and terms of payment. It provides clarity on how the agent will be compensated for their time, expertise, and resources invested in helping their client find and purchase a property.
​
From the client's perspective, the BRBC agreement offers transparency and peace of mind regarding the financial aspects of working with a real estate agent. By clearly defining the commission structure and any potential fees associated with the transaction, clients can make informed decisions about their budget and understand the financial obligations involved in hiring a real estate agent. This transparency fosters trust between the client and the agent, laying the groundwork for a successful working relationship.
​
Moreover, the BRBC agreement ensures that the client's interests are protected throughout the real estate transaction. By establishing a clear understanding of the compensation arrangement upfront, both parties can focus on achieving the client's goals without any ambiguity or misunderstandings regarding fees or commissions. This clarity allows the agent to prioritize the client's best interests and provide the highest level of service without concerns about compensation.
​
Overall, the BRBC agreement serves as a foundational document that helps streamline the relationship between real estate agents and their clients. By outlining the terms of compensation in a transparent and mutually agreed-upon manner, it fosters trust, clarity, and accountability throughout the real estate transaction process. Whether buying or selling a property, clients can rely on the BRBC agreement to ensure a fair and transparent working relationship with their real estate agent.
Before going out on tour with clients, I will sit down with you and go over the buyer agreement and answer any questions my clients may have. The BRBC will need to be signed prior to any work towards house hunting.
Getting
Pre-Approved from your Lender
You need to get pre-approved, I'm sure you've heard it before, but you have ever understood it? Not to worry, lets go through it together
If you are planning to finance your new home with a loan, the first step in the process is to find a lender and get pre-approved. Most people now a days require a loan in the home buying process.
The pre-approval you receive from a lender is a document showing that the lender has reviewed all of your financial documents, ran your credit report and has validated your ability to obtain a loan which is a requirement for making an offer on any home purchase. This is also helpful for your real estate to know, as this will help them understand what you are able to afford.
​
Finding the best lender is one who is not only local but also someone you trust and can count on. The pre-approval letter will also be used to send into any offers you put on a home to show you have already been approved to afford the home.
You will be working closely with your agent and lender to ensure a smooth and timely closing once you have had your offer accepted.
​
If you need assistance in finding a local lender I will be happy to refer you to my best resources for this purpose.
​
My buyers presentation guide
COMING SOON
Roadmap to Home Ownership
There can be a lot of steps when it comes to purchasing a home. Here a breakdown of every step by step a buyer goes through in purchasing a home.
