I was a realtor in La Quinta, California, for 5 years. I moved to Waikiki, Hawaii about 2 years ago and recently got back into real estate. In California, I was diligent about using a Buyer Representation agreement. I was active in Tom Ferry Coaching while in California, and learned from Alan Shafran, a top Prudential agent from Carls bad how to present the Buyer Representation Agreement.I am just starting to work with clients. I had my first sit down yesterday and my broker John was there to assist. He was able answer many questions from my out of country buyers. I then explained to them that to have me for their agent was free. The seller would pay me. I needed a written committment from them, that if they did buy a condo they would buy it from me. I explained what I would do for them from loan preapproval to finding a home to closing. Even after closing, I would be there for them. They signed and we have started the process. I was so happy and proud that my skills still work after a 2 year recess from real estate. I tell agents - would you list a home without the sellers signing the listing papers? Why would we as agents work for buyers without a written agreement of committment?
Andy, signing the buyer agency agreement is about the best thing a buyer can do to ensure they are being properly served. It's so important that, at least in my state, Minnesota, it is required that the agreement be signed before I "perform any acts as a buyer's representative." The state is not trying to protect agents with this requirement. The only way a buyer can be assured that the agent will advocate entirely on his/her behalf is to require the agent to sign the buyer agency agreement.
I also agree that a rep agreement should be signed. Very few REALTORS® in my area use them. I have lost clients because I have not used them in the past....see my post NEVER EVER AGAIN!
Good for you! ! What a victory! Let us know when you get the condo sold to them.
Good for you getting the buyer broker-- always getting one will save you a lot of grief.
Congratulations on the new clients Andy! After only two weeks, that has to be a great feeling. Mike that is good to know, I think California should do the same.
Thanks for the comments. I found them the perfect condo and am meeting them on Thurs. I am excited.
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