Buyer Broker Agreements

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.

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.