Buyer Agency vs. Transaction Brokerage
Alabama law is really particular about how a real estate agent can legally represent you in a real estate transaction. This is very important information that can really save you a ton of money and ensure that your real estate transaction doesn't cause you a big headache. In short:
Buyer Agency is where your real estate agent is contractually obligated to represent only you, as the buyer, in a real estate transaction. A Buyers Agent looks out for YOUR best interest and NO ONE ELSES! This relationship must be in a written document. Remember that a Alabama is a BUYER BEWARE state and the Listing Agent is looking out for the Seller’s best interest which isn't good if you are a Buyer.
Transaction Brokerage is where a licensed real estate agent assists one or more buyers / sellers in a real estate transaction, without being an agent or advocate for either party. By law, a transaction broker cannot share non-public information with you, so be ready to do a ton of the legwork yourself!
