Buyer agency agreements help consumers

Stacia, Thank you for your comment.  Minnesota requires a written agreement prior to any representation as an agent can take place.  That law was certainly not enacted to protect real estate agents, but consumers often try to avoid allowing an agent to commit to them.

Cal, absolutely correct.  Many agents look at a BAA as commission insurance, which it is not. 

Brenda, thank you, glad you found my post.

Carla, absolutely correct.  It does make one wonder who should be trying to lock in whom.

Marc, your board is a cut above many, esprcially the national association which often seems more interested in banking than real estate professionals.  Thanks for your comment.

Brian, there are times when it is not in an agent's interest to make the commitment to serve a consumer, and this seems to have been one of them.  So far, the agent has done what was right.  He did not make a commitment to advocate on behalf of someone whose intentions could interfere with his investment objectives.

Morgan, yes it is a conflict with the intentions of the buyer.  However, the agent owes the customer nothing other than to not lie to her. 

Eileen, I hope that the information provided to the buyer will help her reach her objectives.  As someone who has chosen to invest only in assets more liquid than real estate, I don't think I'll ever have to make the decision that the other agent appears to have made. 

Vince, absolutely the best way to serve the buying public.  Thanks for your comment.

Bill, it comes with the territory, and your example illustrates the importance of the commitment.  You have to fulfill that commitment, even when it's not convenient.  If an agent can't personally honor his written commitments, he needs to find someone to act in his place.

Loreena, wishing won't make it so.  Educating buyers about our commitment and the benefits to them is our responsibility.  It would be nice if our professional associations would give a little more specific assistance. The task will continue to fall on you and me and our professional bretheren.

Joan, there is a simple answer.  The agent does not want to take on a responsibility that would create a conflict with his investment goals. 

Christina, thank you for the recognition and re-blog.  Apple Valley, MN was named by the first mayor of the city after Apple Valley, CA, which he had visited.  I think he actually relocated to AV CA after he retired.

Pete, properly explaining buyer agency and convincing a prospect to allow you to make a written commitment to advocate on their behalf is one of the best things any agent can do for a buyer. 

Ron, the BAA does much more for the buyer than the representing agent.  Many of us look at the BAA as commission insurance.  Prevailing cause trumps commission insurance unless you want to support the salary of your favorite attorney.  True, the BAA requires the buyer to work with you, but the governing body will do a lot more to you if you violate its terms. 

Michael, most states have an agency relationships disclosure requirement, and most consumers never fully digest the import of the disclosure.

Cheryl, the highest level of service to a buyer is only possible when we make a written commitment to advocate on their behalf.  Not all consumers are ready to accept, willing to accept, or worthy of our commitment to them.  All we can do for those poor souls is to wish them the best and move on. 

Elizabeth, I had no choice but to include him in the photo.  He is my office assistant, and the pic was part of the employment contract.  Although he hasn't eaten any of my files in weeks, he did devour a 1099 that was laying on my desk, which could temporarily help the 2011 tax situation.  He must be a TEA Party dog))