In my area, we're supposed to have signed agreements. Some get them signed. Others are more casual about it. And frankly, buyers are reluctant to agree to get married on the first date.
What works? I think you get a one-day agreement signed. It can be for the one house they want to see.
If you like each other, you can extend it.
There's an active discussion on a Realtor associated thread on Facebook, about exclusive buyer's agency.
The storyline is that a Realtor received an online lead who wants to view a property. The agent who received that lead has asked the lead to sign an exclusive buyer's agreement. The lead is refusing... she's asking whether she should show the property, or tell them to find another Realtor.
The back-and-forth over what she should do has been rather polarizing.
Some congratulating her for taking a stand for professionalism, and some saying show her the property and have her sign afterward.
Since this is a national conversation, for those states that require an exclusive buyer's agreement in order to show property... well, of course, you have to have it signed. But most states of the union do not require a buyer's agreement signed in advance in order to show property.
In our area, we don't see a whole lot of Exclusive Buyer's Agreements in use. But some agents use them.. in fact they swear by them... while others don't bother.
How are things done in your area?
ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
Coldwell Banker Residential Real Estate, 1710 Central Street, Evanston, IL 60201
847.425.3779 Cell: 847.924.3313 Email: Almay@aol.com
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