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hey this is Brad and I'm the broker in charge of the art of real estate and we're looking forward to our upcoming appointment for you to go see some homes or discuss the home buying process true to our culture we don't like surprising people with paperwork so we put together this video to give you an in-depth definition of the buyer agency contract if you will remember from our explanation from my video on south : disclosure of real estate brokerage relationships yeah that's a lot we can only show you our brokerage listings without having this form signed so if you wanna see homes listed by other brokerages which most people do we need to have this permission slips on first I'm sure there's some people some of you out there saying that other agents didn't make you sign something like this to see other agents listings I'm not saying they're breaking the law but they were probably breaking the law because South Carolina law says that they have to have this form signed to take you to other listings and that's just kind of what it is and by signing this form you're agreeing to be represented by the art of real estate so let's move on to my explanation of this form and hopefully I will answer most of the questions you might have if not write them down and discuss them the agent that you will be meeting and one last thing I'm only giving you a brief synopsis of this form so make sure that you read it in its entirety and make any questions you might have so to move on real quick to section one appointment of broker this is where you're going to be represented by the art of real estate and are allowing us to conduct all negotiations the types of properties that you list below in section 2 and if you're in this your green to keep us in the loop if you learn about information about properties and if other parties reach out to you so pretty much if you know something or find out something please share with us as well section 2 this is where we this is where you tell us what you're looking for I like to think this as us being a waiter taking an order if you'd like a three-bedroom house in downtown Columbia with two baths and a pool between 150 and 200 thousand dollars that gives us the parameters to do our jobs and finding you a house Section three goes on to talking about record duties and what our duties are to you one we have to explain buyer agency and the agency disclosure so if you need to refer back to the other video I talked about with the disclosure of real estate brokerage relationships it also says that we have to use a special knowledge and skill to represent you too diligent effective manner so that's pretty cool too if our brokerage is not representing the seller then we only represent you if our brokers does represent the seller too and the broker shall not disclose to the buyer any information obtained in confidence from the seller nor can we disclose anything to the seller that we would that would add would adversely affect excusing you're negotiating standpoint for the art of real estate may represent more than one buyer who may or may not be looking the same type of home or even the actual same home it also says that any information obtained during this agreement and it's time and during this time frame is to remain confidential past disagreements time frame five that we are licensed real estate agents on the south state of South Carolina and that we will use our best efforts in locating a property as you described in section two above and negotiate it during the term of this contract we will give you information about properties and properties that meet your standards so now on to your duties it's kind of a two-way street one that you will slowly work with the auto real estate during the term of this agreement and you do that by only seeing properties with our agents and not agents from other companies that you allow us to help find properties negotiate properties and that's in essence representing you the three you agree again to refer all enquiries receive from other brokers or licensees to us that you also understand and hold us harmless as a result from any errors or misrepresentations the sellers have and that you only host accountable for your earnest money if our company is holding it if another company is holding it per their terms we're not liable for their actions regarding it however law is very strict on how US money is held it also goes on to say you agree to help us by being an active participant in identifying and negotiating and purchasing property meaning you will give us feedback and you will be available and active in the process some examples are by giving us reliable information don't hold anything back once we are a client agent relationship and you really shouldn't fluff or lie about your finances so we got to make sure that we're finding you stuff that you want and you also make yourself available it's going to be really hard for us to sell your home if you never make time to go look at them you also have to tell us what you need one which you priority done if we've done section two so let's go on to the white elephant in the ring how we get paid so we really there's four ways of compensation in real estate for a buyer's agent we don't do retainer service or service fee very often so I'm really going to focus on the brokerage fee because really that's the easiest part it goes on to talk about that the broker shall attain payment for the brokerage fee out of the transaction the broker shall be paid by the cooperating broker as stated in our Multiple Listing Service and the buyer shall not be responsible for paying buyer's brokerage fees now please understand it has not listed our MLS we're not guaranteed a payment so if you go look at it for sale by owner please allow us to talk to them first because most of the time we can get our feet worked into the term of the deal moving on to terms of agency this really goes and talks about how long we're going to work together so this can be any length of time it's totally negotiable it's going to be a discussion between you and the agent you're meeting now we totally understand that some people don't want to just get into a lengthy contract with somebody they may not know or may not think they do a good job so again it could be for a day a week a month a year however you want to do it we find that oftentimes people want to do it for three to six months and so we'll write those terms in the agency and our number six number seven is a makes us talk about dual agency and designated agency the first checkbox right here so you acknowledge receiving the different types of eight agency relationships definitions and we gave you the residential sales disclosure brochure which we've talked about several times in this video and the end of the video then it goes on to talk about dual agency so the next two boxes right here talk about dual agency you can choose one to not allow us to act as a dual agency you won't consider it and really what you're saying here is you all you don't want to see any of our company's listings now if you check the box below an initial box below it this one permission act is a dual agency may be considered at the time you're provided with information about the other party to the transaction so the way I break this down is we're allowed to show you properties that we have listed but if you want to make an offer on that property you will know who the seller is and you execute a separate written dual agency agreement just like it says here so you're not agreeing to being by it but you're agreeing to be open to it the next two box talks about designated agency and designated agency is not an agency that we perform so we're not going to worry about these two so feel free just to check the third bar the fourth box and we can move on obviously the government thinks is a very important topic so it makes us talk about other potential buyers again and it goes on to say that we may represent buyers that have interests in the same property or looking for the same things and that you're okay with that and you're allowing us to work with both people number nine goes on to talk about and then define us that it's kind of strong but what it's really getting to is you're agreeing that you have not signed a buyer agency with another company and you've not been giving information or should be shown property by that other company if you have that's fun just let us know there's some things that we might have to do but if you tell us you haven't and you really have and then we get in trouble then you agree to step in and you know cover us for any kind of misrepresentations that you've brought us again if we're all on the up-and-up we're good to go number ten talks about the disclosure the buyers identity and the confidentiality of it so pretty much we have to disclose who you are to the seller they're going to see it on the contract and that's the right however if you think them seeing your name will be a detriment to your negotiating ability like your celebrity pro athlete or you know it could be just know them from life and you know they're going to treat you differently then let us know we can get you with an attorney that might be able to do something still legal but kind of hide your identity from them going on number eleven non-discrimination I kind of break this down as the only color we see is green so you can have whatever thoughts you want just please keep them to yourself because we follow all local state and federal fair housing laws twelve goes on to say that we're pretty much only being hired as real estate agents we are not any other sort of professional so please don't let us act that way and don't rely on us rely on us and that cents so not attorneys or tax people lenders appraisers or surveyors engineers inspectors or any other professional service what we are we're quarterbacks so if you have a question there's a problem that comes up we're going to get you to people that can best answer your question and that's those professionals the mediation clause is in here saying that if anything comes up during this transaction against us your agents or the other agent or the seller or anybody that you agree to go to mediation and follow the procedures of the National Association of Realtors dispute resolution system if you don't like what comes out of that you can definitely sue whoever you want number 14 is sex register information we don't follow this and we're not responsible for finding out or disclosing it to you however it goes on to say that they recommend the buyer understand the sex read register offender registry excuse me information may be obtained from the local sheriff's department 15 goes on to talk about this entire contracts binding so if you're like I'm only buying a house that's pink and that's the only ones you're allowed to show us then we need to write it down here in section 16 if you don't have something like that it's totally fine those people don't but it's not enforceable it's not in the contract 17 goes on to talk about that we're a lot of fax and email documents these days no longer do we have to hand-deliver originals and by emailing or faxing it those can be deemed original contracts and any kind of handwritten or typewriting modifications going forward and that are agreed to by both parties will become hard and part of the actual contract and then the fourth page follows up with just letting you know that this is a legally binding agreement and then if you've any questions about it we recommend you go seek legal counsel we also you also will acknowledge that you're going to get a copy of this agreement once we are done with it so and lastly we need you to put every single phone email and fax number that we're allowed to communicate with you at so if you only put your cell phone that's the only number we're allowed to call you so if you're okay with you calling you to the office please feel free to write that down as well and then lastly we're going to need your address just so we know how to send you documents and such so at the end of the day we appreciate your time and allowing us to show you this form and go over it on this video if you have any questions please make sure to ask your agent when you're meeting we also have at the end of meeting you decide to become a client of the art of real estate so we can show you how the buying process can be a pleasurable happy experience in the meantime happy hunting and good luck

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How to electronically sign and fill forms in Google Chrome How to electronically sign and fill forms in Google Chrome

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How to electronically sign a PDF file with an iPhone How to electronically sign a PDF file with an iPhone

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How to digitally sign a PDF on an Android How to digitally sign a PDF on an Android

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