The buyer broker agreement really works to sort out the users from the buyers. We cannot work for free. I just had a call from a guy who wanted to see a property and said he only made offers with the listing agents. He said he would not sign a buyer broker agreement. I said I would go ahead and show him 2 homes and then he could decide. He said no because he was going to buy from the listing agent. At least I found out before I wasted my Sunday afternoon with him.
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?