Buyer Broker Agreements

By
Real Estate Agent with Marie Avery/RE/MAX Alliance Group
Wonderful Comments. When I first started in real estate, my broker required Buyer Broker agreements on all our "customers". It seemed like standard practice.  When I changed brokers, the next one didn't really care if we got one, and I got away from it. I agree, it seems more difficult in a "don't sign anything" society to get the prospective buyers to to sign a Buyer's Broker Agreement at first contact. Maybe meeting with them, building rapport  and then at the end of the day or at the next meeting get them to sign it (if their is a next meeting, see previous blog). Does everyone use them? What have you found to be the easiest script to use to get them to sign it? When do you have them sign it? I have enforce agreements four times in the past, why are we so resistant??
Posted by

Marie Avery

WCR, CDPE, CIPS, CLHMS, CRS, GRI, e-Pro, PMN, TRC                                                                                                                                     

Avery-Ayers & Associates RE/MAX Alliance Group Bradenton / Sarasota, Florida  941-725-0911                                                                                             

Marie@AveryAndAyers.com  www.BradentonRealEstate.com   Blog: www.AveryAndAyers.com                                                                                                        

I appreciate your referrals! Servicing your Real Estate needs in Florida, in Manatee County, serving Bradenton, Palmetto, Ellenton, Parrish, Lakewood Ranch and north Sarasota.

Comments (4)

Andrew Trevino
ADT Real Estate - Wilkes Barre, PA
Wilkes-Barre Homes For Sale

Marie,

I try to have my first meeting with a customer at my office or a place away from the house they want to see. Once you get there, it's too difficult to discuss things like this. We also have to have anybody with whom we have a substantive real estate discussion with sign a Consumer Notice, which describes the different relationships a person can have with a Realtor. This is a perfect lead in to the Buyer Agency agreement. I always explain that I will commit my time and energy to helping them find a home and I look for some bit of commitment on their part to work with me to find them that home. The Buyer Agency agreement just makes sure that I am able to fully protect their interests. This is usually enough. This is my experience, of course, which is not to say that it will work for everyone.

Aug 09, 2007 01:51 AM
Rebecca Quinones
Coldwell Banker Heritage Realtors - Dayton, OH

I have mixed feelings about this.  When I first started out, I didn't have clients sign one until we wrote our first offer; mostly because I did not know how to ease into it in a comfortable way.  After a while, I learned how to asses our relationship and usually knew if my clients were going to be loyal or not.  I also learned pretty quickly that it didn't matter if a client signed a BBA or not, because my broker would NEVER pursue a buyer over a commission.  So, what was the point?

I found it to be more effective to sit down with my clients and tell them what I expected from our relationship.  If you look someone in the eye...it can be far more effective than a piece of paper.

 
Aug 09, 2007 02:00 AM
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY
More and more associations are emphasizing the use of buyer agreements. In my area, many firms using them but some are still reluctant to jump on board.
Aug 09, 2007 02:02 AM