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Realtors working with a buyer, please use a buyer brokerage agreement, please
Having been a broker for going on 13 years now, I've been involved with many different commission disputes in the past. Nearly every single one of these disputes could have been avoided if the buyer's agent had simply had the buyer sign an exclusive buyer brokerage agreement.
I admit I've been guilty of not using a buyer brokerage agreement myself. And with some of my regular customers that buy from me all the time, I don't use an agreement simply because I don't feel I need one. But with regular retail home buyers especially ones that you don't know outside of your business, you are really being naive if you aren't getting them to sign a buyer brokerage agreement. If the buyer is reluctant to sign something, I might consider taking them out for 1 day of showings and see how it goes but I would never take them out on a second day. My time is simply too valuable to not have an understanding committed to writing.
I remember a few years ago on a listing that I had where a buyer's agent showed a property and then a few days later another agent showed the same property and made an offer that the seller ... more
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