Buyers Agreements... Thats my topic.
So... I had these clients, key word being HAD. I worked on them for MONTHS. They are investors looking to "flip" homes withing 12 months after renovating to a tune of about 20% of what the purchase price is, then selling it 20 to 30% above total investment. All within 12 months. 1 stinkin year. It may sound simple, but in todays market in Vancouver Wa, it's a large feat to say the least. Long story short, I find the PERFECT renovation home on a FULL acre for under 180,000, and in this area could easily be updated and flipped for 300. I take them to it. They love it. They call in their other investor partner - the one who does the work. He loves it. It is now 7:30 at night, I have been there for OVER 2.5 hours at the same house, and I am tired and would REALLY like to see my family. They all decide that they are going to talk to their lender first thing in the morning, and we will put an offer in by noon the following day.
Noon, the following day rolls around and I can't get in touch with any of them, 3 in all. I am programmed in their cell phones, I am tied into all their e-mails and practically their best friend after all these months. Next day, 3 messages later, nothing. But the darn house is pending. (Oh, Darn would NOT have been my word of choice) To this day I have not received a return call, an e-mail, or a simple "thanks for your time". But I did notice they closed just recently and used the listing agent instead.
Lesson Learned?? Buyers Agreement ALL THE WAY! I still haven't gotten all my current clients to sign them, only because I feel bonded somehow with them. Naive? Yes Probably. However all new clients are signing or nothing! I have now been burned and it still stings!
Are they standard in everyones practice? What is the best way to approach the subject? How would I get my current clients to sign them without offending them? Advice is soooo welcomed!
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