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Is it Necessary to Enter into a Contract with a Buyer's Agent? Under current Massachusetts law, a Buyer can engage the services of a Buyer's Agent without entering into an exclusive agreement. A contractual relationship is strongly recommended, however, because it specifically delineates the services that the Buyer's Agent will provide, the territory to be covered, and the duration of the relationship (all of which are negotiable). The rights and the duties of both the Buyer and the Buyer's Agent are clearly spelled out, thus eliminating possible misunderstanding. With an exclusive contract, a Buyer's Agent is able to expand the property search to encompass For-Sale-By-Owner (FSBO) homes, so that the Buyer will have a more exhaustive inventory from which to choose. A Buyer's Agency agreement is analogous to an exclusive listing agreement signed by a Seller. The contract becomes a roadmap of expectations between the parties, and it minimizes the risk of unforeseen detours and possible disappointments.
Maureen
Harmonay, CRS, GRI, ABR Your Country Property Specialist RE/MAX Traditions
1084 Main Street Visit my companion sites: Harvard Country Homes and Massachusetts Country Homes
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