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Really? So, your agent is going to make TENS of thousands of dollars on a transaction with you when you do ultimately purchase a home but, you don’t think that he or she should have to actually WORK for it?
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79 Comments on BUYERS: Anything You Say CAN and WILL Be Used Against You!
Hi Everyone! An appraisal, an inspection and a couple of showings later, I have 58 comments! YIKES!
I do agree with LaNita that I definitely have to make it policy to use the 1-and-done BA agreement with these folks. I've done it for many but, this guy just seemed to be incredibly honest and forthcoming. Because we didn't have him sign one, my agent gets no compensation. At last contact with the listing agent, this guy hasn't made an Offer just yet but, they are on the lookout for his Offer.
The out-of-state and international buyer phoning for information is one thing but, to actually be on-location (so to speak) and use someone else because they didn't want to bother their agent is just ludicrous! If it were my listing, that would be one thing but, for it to be a random listing, not my own, is yet another.
Thanks for your comments and believe me, I've learned my lesson to its fullest this time! The BA will be signed BEFORE heading out to meeting a client at all!
But, Debe, I thought this wasn't your listing. How can you share that information with the seller? Although I definitely would, if it were my listing.
Debe,
It's a sad state of affairs. In many cases, they probably do cost themselves a lot of money, as the agent they are working with - who is not showing them homes is possibly not as involved or engaged in helping them as well as they can, but closing a sale.
Very frustrating.
All the best, Michelle
Debe: so sorry! I hate white lies! Karma is a bit#$%. Kristine :)
Wow! This really got my mad. LaNita, comment #21 had it so right!
Debe so if this guy does end up buying the home your agent showed it would be a case of procuring case here in AZ. Is that not the case in your state. I actually won a case such as this several years ago. The buyers came to an open and took up a lot of my time - while many others were looking as well. Later that evening I got a contract with their name on it from their agent who had been up north and couldn't be bothered to come back to town. The buyer continued calling on us with questions until I said....call your agent!! We waited until just before closing and made the call the her broker. She wasn't happy but had she done her job and took care of her clients properly she wouldn't have created what she did.
Hi Debe, I think we all have been there. I would love to put buyers on a retainer system, something like attorneys do. Perhaps the retainer would be refunded upon close, just thinking out loud. And the Buyer Broker form can help as well.
Wait - we're not professional door openers? Geez. . . I thought that was in our job description. :) I laughed and cryed when I read your post. Thanks!
LOL Joy! I know sometimes we feel as though we are but, there is SO much more than meets the eye to our jobs, isn't there?!
Anna: Had we signed a 1-and-done BA with the guy, yes, we would have been procuring cause but, because we trusted this guy not to 'use' us, we lost out completely. However, if he does bid on the property, the seller knows his details so, I think Karma does come into play here.
Man, that;s too bad. Here is VA I'd fight for procurring cause for tens of thousands. Too bad you need a BAA in NC to secure procurring cause :-(
It happens so often that now I just do not trust any buyer. It's time for buyer's reps no matter what. If I lose a sale or two becuase of it, so be it. I will still come out ahead for the time not wasted.
I think some buyers just don't get it. Part of it is the industry's fault for not better educating the public on the benefits of having a buyer agent and the risk they may run when contacting a listing agent/company. In this case, it sounds like the buyer new what he was doing.....
Debe
Well none of us should be surprised, sicne this seems to happen pretty often. But it still grates.
This is certainly not someone I would trust to enter into a transaction with since he so readily lied. And what about the agent?? How well is that person going to be able to represent this sneaky buyer's best interests? I see a red flag waving!
Jeff
Debe - This is so frustrating and just further indicates to me how little many members of the public understand what we do and how we get paid. Or, maybe it's simply that they don't respect what we do.
As I'm learning in my class "buyers are liars"!
I need to have some kind of proactive game plan to at least avoid some of them.
Debe, excellent post. I have a couple of questions related to understanding your state laws. You mention it is not your listing, but note that whatever was said to your agent will go right to the seller. Is their implied agency in your state? So that when you cross the threshhold without a buyer agency you are a subagent of the seller? Or was that simply a helpful comment to the consumer if you were the listing agent?
It is just a good reminder why I have begun to insist that you meet me at the office before seeing any homes. Do not always follow the rule, but it has begun to help me.
Cal
Debe, Referencing comment #70. In PA we would do the same thing. Should that property sell to that particular buyer we have a case for procuring cause against the selling agent.
We are required to have a Consumer Notice signed when we first meet with a prospective client. That serves as proof of the contact and the Supra Key records support our showing on that date.
LaNita in post #21 is right. Do the job properly and you won't have to complian about this. If the agent spends 15 seconds to explain the reason you asked "Are you working with an agents?", then that would take care of this problem.
It happens all of the time and to the nicest agents. It really floors me that they have no respect for our time.All you can do is rise above it and move on to the next one
Hi Debe - I'm sure that it never crossed his mind that your agent might just call the listing agent to tell them everything (I would). If I were the listing agent, I would probably be very hesitant to trust an offer from this client, because he obviously believes that being dishonest is ok, where would he draw the line. I've had a few of those people, and they never get a closing done. Run as fast as you can from these people.
On the other hand, it's a good case of where a signed buyers agreement would have probably stopped this from happending.