Do you need a broker to buy Boston downtown real estate? Of course not. Does having an agent represent you cost you? In almost every case; no. However, the complexity of the Boston condos for sale purchasing process has never been greater. There are more traps and hurdles in buying a home than ever before.
What is “buyer agency”?
Buyer agency is the highest level of representation afforded to a buyer in purchasing Boston downtown real estate. When a buyer broker agreement is signed, a client relationship is formed and the Boston downtown real estate broker is required to represent and look out for the client’s interests at all times during the Boston condo for sale purchasing process.
Why is this important to buyers?
The seller of a Boston condo for sale is represented by the “listing agent.” In negotiating price and terms, the seller has s fiduciary responsibility to represent their interests, but, unless the purchaser has an executed buyer agency agreement with an agent, their interests are NOT represented. In fact, if you work with an agent “without a buyer agency agreement”, the agent is prohibited from giving you any professional advice or guidance
What is required to have a buyers representation
A written and signed “buyer agency” agreement is required by Massachusetts law.
What will a broker do as a buyer’s agent?
The buyer’s broker will analyze information such as comparative market data, advise during negotiations and wording of the purchase agreement, and, in general, act as the client’s advocate in the purchase process.
What happens if there is no buyer’s representation?
Without “buyer agency” there is not a representative looking out for the buyer’s best interests in purchasing Boston downtown real estate. The listing agent is required by law to represent the interests of the seller.
How much does it cost?
In virtually all Boston downtown real estate transactions, the seller pays all commissions and the buyer receives the full benefit of professional representation. .
Who decides if I am represented or not?
As the Boston condo buyer, you alone may make that decision.
Why would someone not want buyer’s agent representation?
There isn’t a good reason why a buyer would refuse representation, especially since it’s free.
I found a Boston condo for sale I want to buy – do I still need a Buyer’s Agent?
Finding Boston condos for sale is only one part of the process. An experienced competent buyer’s agent will ensure that your concerns are met at every level. Not using a Buyer’s Agent is like being given the funds to hire an attorney, but instead choosing to go to court alone to fend for yourself.
Conclusion
Buying a Boston condo for sale is a major event with major financial ramifications – positive as well as negative. Take the time to understand the process and the importance of working with experienced Boston real estate brokers
For more information please call me at 617-595-3712
