Should I or Should I Work With This Buyer?

Holy Cow...  My last Blog "Should I or Should I, Take an Over Priced Listing had nearly 1100 views and over 85 comments in 4 days.

So I thought the next best thought provoking Blog should naturally be "Should I or Should Work With This Buyer"?

Just as stated in the previous Blogs, I have had several conversations about working with a NON-COMMITTED buyer, or the buyer who won't sign an "Exclusive Buyer Agency Agreement"

So Here is the Discssions and Comments:

Do you work with a Buyer who won't committ to you exclusively, and what is the best approach to obtain an "Exclusive BUYER Agency Agreement (EBAA)?"

Here are some comments from some of our agents during our discussions:

1. I don't feel comfortable asking them to sign a EBAA.
2. When is the Best time to ask for the buyer to sign a EBAA?
3. I hate working all weekeend showing them homes then they go buy from another agent or a FSBO.
4. I'm always available to show them, but sometimes I feel like they're cheating on me.
5. Some agents say go find your home, let me know then I'll write the offer.
6. Some agents say go find a home and I'll split part of my commission with you if you let me write the offer.
7. Buyers feel they'll get a better deal going directly thru the Listing Agent.
   • Do they really get a Better Deal?
8. This Is MY PERSONAL APPROACH!
   • If someone calls or requests to see one of my listings, I ask if they are working with another agent?  If yes, I suggest that they have the agent representing them set up a showing.
     • Half of them say yes but my agent is too busy.
     • Some lie, then and after I show them, their agent shows up and writes the offer.
     • 8% to 10% of the time they buy the home they called about.
     • If they don't buy the home, and they're not represented, I ask if they would like to attend my "Smart Buyer Personal Seminar" a registered service mark.
       • "Smart Buyer includes all the services I provide a Buyer, a discussion about Agency, AND Closing with a Request for Exclusive Buyer Agency Agreement"
       • If they don't sign a EBAA, I will only work with them if I'm extremely slow.
       • Sometime I'll offer a small incentive for EBAA.
       • My feeling is that it takes 8 to 10 times more to work with a buyer than a seller, SO PRESENT A BUYER LISTING PRESENTATION and get a EBAA.
       • If you get paid the same or close to it, and you get an agreement from a seller then why not a buyer.
   • I will show them homes one time without an "EBAA".  I call this our dating period before the marriage.  If we go out again it's with a EBAA.
9. Oh what the heck show them homes and take the chance of buying gas, lunch, personal time, and missing your kids baseball game.

Now it's your turn Please share your comments, and if you missed Should I or Should I Take this Listing Please Search it.  There are a lot of really good comments.

Hang In There

Don Keeton

RE/MAX The Producers of Omaha