Procuring Cause & Buyer's Agency
Expanding on the topic of "Don't be a Not You" and having a Buyer's Agent...
How it works having a Buyer’s Agent…
If you go out looking at homes without your Buyer's Agent for any reason, you MUST make sure the Seller’s Agent clearly understands you have buyer representation. If not, your Buyer's Agents ability to represent you properly can be put in jeopardy! Why is this?
Quick scenario… An agent is hosting an open house or builder model home and has a registration log. When you enter, you sign your name and your Buyer's Agents name. If your Buyer's Agent is with you, they will sign as well. This clearly shows the Seller’s Agent you have Buyer’s Representation. However, if you go into an open house or builder model home and never mention that you have a Buyer's Agent and you decide to buy that home, the Seller’s Agent may refuse to work with your Buyer’s Agent due to “procuring cause”. Procuring cause as it relates to real estate means your Buyer's Agents actions did not bring about the sale of the property so your Buyer Representation is jeopardized. You will be subject to the seller’s terms, which are in the seller’s interest and not yours.
If you are considering purchasing a new home put your trust in iMetro Property Real Estate Group! Complete our Contact Form or call 612-656-1200 to schedule a no-cost no-obligation Buyer's Consultation.