The buyer’s broker and his representation duty

What is the representation duty of the buyer’s broker?

When you represent your client for the purchase of a property, your work is to protect him and act in his best interests throughout the transaction.

During the visit, your presence is required so you can fully perform your duty to advise with the buyer you represent. Otherwise, you must designate another broker to replace you.

Also, you will not be fulfilling your duty to represent the buyer’s interests if you send a promise to purchase to the seller’s broker so he can himself present it to his client.

As a buyer’s broker, your duty of representation is to present any promise to purchase to the seller yourself, unless there are special written requirements to the contrary from the seller. Such seller’s requirements are exceptional, but in this case you should inform the buyer that you cannot present his promise to purchase in person.

Presenting the promise to purchase yourself is crucial to protect the buyer’s interests. In this way, you will increase the chances of successfully completing the transaction by highlighting to the seller the strong and relevant points of your client’s proposal, in addition to answering any questions from the seller about it. Finally, you will show the buyer the added value of doing business with you!

If this is preferable for various reasons, whether for medical reasons or because one of the parties is out of town, you can present a promise to purchase by videoconference or conference call in addition to using electronic forms and electronic signature solutions.

Once you have been informed of the acceptance of your buying client’s promise to purchase, you must help him fulfil the conditions set out in this promise, while making the necessary follow-ups to protect him.