Seriously, if you don't trust me, why waste both our time?

Every agent that I know has the same story: you work with a buyer for a long, long time, and then all of a sudden, out of the blue, you get the "Dear John" letter that they've bought a home with someone else.

I've been on the positive and the negative side of that, but either way, I just don't get it.

I educate my buyers up front about how I work.  Do I use a Buyer Broker agreement?  No, not usually.  Most of the time I trust my buyers and they trust me. I am a licensed attorney and practiced 10 years before becoming a full time Realtor.  I understand the need for contractual commitments.  Still, Buyer Broker agreements don't settle well for me.  If someone doesn't want to work with me and I don't want to work with them, why bother?

Still, I get burned every once in awhile and I always question why I didn't use a Buyer Broker Agreement.

Case in point:  I worked with this couple who could afford very little, for about a year. The husband wanted north San Diego County but the wife wanted south San Diego County (about a 45 minute distance difference). I patiently showed them properties in both areas, always meeting them whenever convenient for them.  I listened to the wife complain how her husband wants to keep her in the suburbs while she wanted to be closer to the City.  I worked really hard for the both of them while they figued out what they should do.

I worked with them for a long time until they finally told me that they would wait to figure out where they wanted to be.  Then, they said, they would start looking again.

Agents, you know the rest....I got an "unsubscribe" email from them from the property listings that I had been sending them.  I contacted them since I just knew this had to be a mistake.  Apparantly it wasn't.  They found something they liked and bought it with another agent.  Of course they "appreciated my help" when I asked what happened.

This kind of situation makes me rethink my "trust" issue when it comes to buyers and a Buyer-Broker agreement.  My problem is that I don't really want to work with someone who doesn't respect the time and commitment that I give them.  I have learned to educate my buyers up front, and I rarely have an issue with a buyer just throwing me aside, but it certainly doesn't make it easier when it happens.

So....buyers:

If you work with an agent, realize that the time and energy they give you is all theirs.  They don't get paid for it.  We could be focusing on clients who understand and appreciate what we have to offer.  Or maybe, instead of showing property to you, we could instead relax and spend time with our families.

If you know that you don't want to work with the agent, let them know immediately so they don't use their valuable time helping you when they could help someone who values their work.

Have the decency to discuss any issues you may have with the agent to see if they can be worked out.

And....if this doesn't work....either communicate with them that you don't want to work with them OR ask to sign a Buyer-Broker agreement to commit both of you.

Thanks!

Deb

 

 
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6 Comments on C'Mon Buyer, Trust Me or Don't!

Yeah, gotta do the buyer-broker, unfortunately.  I've let people out of them before, but still, it's the only way to get the conversation going about what this relationship means to both parties, and i don't want to hustle around town for someone who doesn't appreciaet my time.

Sorry to hear about this -- a better buyer is just around the corner!

06/06/2008 12:08 AM by Jodie Miller, Realtor, KW, Pasadena (Keller Williams Realty)


Deborah:  In the past, I have also hesitated using a Buyer Representation Agreement.  But... more and more I find they are quite necessary.  If when we list a seller's home, we require them to sign a representation agreement... (the listing agreement)... it just makes sense that if we are going to go to work full time for these buyers in helping them find a home... we need a Rep Agmt with them, too.  Best of luck.

06/06/2008 12:11 AM by Fort Worth Real Estate - - - Karen Anne Stone (RE/MAX Trinity)


I used to hesitate about the buyer representation agreement.  Now I use them almost exclusively.  I understand some of your hesitancy, but I see this in much the same way as a listing agreement, and I believe that it is helpful to both parties to understand and define the terms of our "relationship". 

06/06/2008 12:39 AM by Christine Donovan Costa Mesa Real Estate (Broker/Attorney) (Donovan Blatt Team - Donovan Group Realty)


Deborah, we tried the same thing that you do, build trust and hope that it is a mutual trust.  Now we use the buyer broker, it just makes it easier in the long run!

06/06/2008 12:44 AM by Tony & Darcy Cannon - The C Team (ERA Realty Center)


It's always best to lay-out all the cards on the table. If there's no trust to begin with and it's not developing, it's probably a lost cause. The harder you try to earn it, the further away they move. Sometimes it's just plain best to move on.

Some clients have contacted me from my blog here on A|R and on my home blog. We make a connection as one was already lightly established through the blog and subsequent emails. Others however call and start playing the shopping game and asking me to cut and cut my fees...it's the latter group that I pay less attention to and simply part ways with.

06/06/2008 05:08 AM by Ricardo Bueno - Mortgage Planner (World Wide Credit Corporation)


After getting burned a couple of times with similar situations as you had above, I drafted a very simple "Letter of Intent" for buyers.  It was not as intimidating as a Buyer's Representation Agreement can be.  It basically said that the buyers would work with me exclusively for a certain time period.  After that time period was up, they (or myself) had the option to terminate the agreement however, I was entitled to any commissions after the fact if they chose a house which I had shown to them.  If they wouldn't sign this simple letter up front, I let them know that unfortunately I was not able to show them houses.  This is now how I qualify "buyers" from "lookers" - especially now since it is a buyer's market in my area.  There are lots of people who just want to go out and see what is out there with no intent of ever purchasing....

06/06/2008 11:06 PM by Amy Zepeda, ABR (RE/MAX Premier Properties I)


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Real Estate Agent: Deborah Engel, San Diego Homes & Property (Prudential California Realty)
Deborah Engel, San Diego Homes & Property
San Diego, CA
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Prudential California Realty

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