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Exclusive Right to Represent Buyer Agreement

By
Real Estate Agent with Alliance Real Estate

Exclusive Right to Represent Buyer Agreement...

What do you think of that? Having a client sign an exclusive right to represent a buyer agreement, is it the right thing to do? Will I scare buyers away just because they are not sure? How do you explain what and why we need to have it? What if they had an agreement and a bad agent in the past? It is going to effect how we work together.

I am a good agent and represent a buyer very well. I do all I can to represent them. Their interests are first, I want to get them what they need, want. I think each of our relationships are unique and professional. It is why I am in this business.

I want clients to sign an agreement that protects me. I want them to show me they mean business and they will treat me with respect in this emotional decision. I want to ask my clients to sign an exclusive right to represent a buyer agreement.

Relations are difficult and take time. How can this process work better? How can I make sure after I drive a couple around town for 2 weeks and work many hours, they won't stop in an open house and buy from someone else?

I am a great sales woman if the sale is right for my client. I want to protect them as well as myself. How do you do? How do you recommend I do it?

Kim Fendrick, Alliance Real Estate Omaha, NE

Alliancesells.com

Anonymous
Jack

You can ask the buyer to sign an exclusive right to represent him but where I see the problem is in the compensation part.  Some agreemenst read like the buyer is responsible to pay the broker's fee and that makes folks uncomfortable.  

  It should just very clearly state that the buyer's broker will get whatever fee offered by the seller's rep or the seller with whom they go to settle.   The compensation clause should not state that "the buyer will pay xyz" as broker fee.  The broker fee should be addressed as paid by the seller or the seller's rep.   I find that most all buyers will not hesitate to sign such an agreement.

Apr 26, 2008 07:54 AM
#1
Anonymous
Lisa Ray

I agree with Jack.  I am a buyer and don't want to be held responsible for any broker fee.  None.  Not a dime.  The agreement needs to say that the buyer is not responsible for any commission (broker's fee).  The broker fee shall be paid for by the seller or the seller's representative as agreed to in the listing.  This way you safeguard your commission and buyer is happy to stick with you. 

As the buyer I don't want more hassles.   You can have the exclusive broker right but don't hold the buyer liable for the broker fee.  That has always come from the seller's side.  So what gives now?

Apr 26, 2008 08:51 AM
#2