I'm just finishing my latest round of new agent training and it never ceases to amaze me how confused new agents ( fresh out of real estate school ) become when discussing AGENCY. More specifically...... EXCLUSIVE BUYER'S AGENCY.
Even though our real estate commission clearly states that upon initial contact with a buyer an agent should present and discuss the "Working With Real Estate Agents" brochure to the customer. Furthermore, our commission encourages agents to complete the Exclusive Buyer's Agency Agreement with the client BEFORE discussing any confidential buyer information.
Many new agents ( as well as seasoned agents ) continue to work under a implied buyer agency agreement with their client until the time an offer is made, at which time the Exclusive Buyer's Agency Agreement is presented to the client for signing.
I believe that this method of operation (MO) is dangerous and should be avoided. However, when the new agents see how many seasoned agents use this approach, they are convinced that it is the right thing to do.
I would interested to hear your opinions and the customs and guidelines in your market.
Thanks for listening!
Ken Eidenmiller
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