Why you want your own representation…and not do it on your own or use the seller’s agent.
In the great state of Texas buyers have their own representation in a real estate transaction. In about 1993 the Buyer Tenant Representation Agreement was created by the Texas Association of Realtors (TAR). Real Estate Buyers looked up and said, “Hey, our interests are not being represented here!” and the Buyer Rep was born.
This is why it is important to have your own representation; someone that knows the contract and understands the transaction that has YOUR interests at heart. Remember, if you go directly through the listing agent of the property their fiduciary duty is to the SELLER. In Texas the seller typically pays all the commissions on the Residential Real Estate transaction though it is important to note that there are no set commission percentages and this is always a negotiable point. So…if it isn’t going to cost you anything additional to pay the agent why on earth would you want to represent yourself or use the person with the LEGAL RESPONSIBILITY to not have your interest at heart?
