Let's Talk Buyer Broker Agreements!

Hello DaCyn Walsh very valuable educational post for buyer broker agreement.

This is good information to share with prospective home buyers.

Have a productive month.

Hello DaCyn - participating in real estate can be confusing even to those who have done it previously.  But the practice seems to change often so there doesn't seem to be a shortage of new documents.

This is very good advice, and you are right, the numbers do not lie!  Those who hire an expert to assist them will always come out on top!

Excellent post, one you can share with potential clients as well! I'm glad you are contributing to ActiveRain!

Hi DaCyn Walsh (I cannot figure out how to pronounce your name) I have only had one client who was unwilling to sign. I showed her the new rules. Her refusal gave indication to me that her intention was to have me show...and another agent write her up. (a relative maybe?)

DaCyn Walsh most FSBO transactions I have seen have had multiple issues that could have been avoided if there had been Realtor representation.  Anyone who has bought or sold a house on their own generally ends up wishing they had Realtor representation by the end of the transaction.

DaCyn Walsh  You can go to court without an attorney, and you can buy a house without a Realtor. It is your choice.

Hi DaCyn - excellent post!  Here in AZ we've used Buyer's Agreements for years.  And it was common to go over the BA at the first meeting with a new client, along with all the other pertinent papers and information on buying a home.  I always thought of it as 'educating' buyers to how things 'work'.

DaCyn Walsh, So proud of you! Congratulations on your well-deserved feature explaining how the BB agreement builds trust and protects the Realtor's efforts.

As a new agent, you are exactly what this industry needs. It’s impressive how you balance your young family with such an amazing career. We all look forward to watching you grow as a REALTOR®

These will be on-going conversations that must take place so that all parties know exactly what they are signing and what it means.

It’s always important to know what you’re doing before you jump in at first say anything. nice post!

Great post, DaCyn. Much needed to explain the role of the Buyer agent. I usually send a short video to my potential buyer clients, and after they watch it, I schedule an hour introductory consultation and go over the process. Now, I set a bit more minutes on the Buyer Broker agreement, too. 

This coming through the comments and realizing that so many of you have so many good insights. I’m very thankful! /)

This an excellent way to handle the Buyer Broker agreements. I bookmarked it so i can have a few people in my office read it. Job well done

I've always used the BBA. This is not new. Yesterday, someone called to see one of my listings. I explained and sent the BBA. I reminded the buyer to sign and send before our late day appointment. He said he never had to sign one before. I explained they have always been around and that not all agents used them previously. I send a NAR piece about the new changed. I did discount my fee as I was the listing agent. He cancelled because he didn't want to sign just to see the property.

He called other agents and they told him as I did. He asked if he needed an agent. I told him he could write his own offers, which is not recommended or hire an attorney to write the offer. However, he needed an agent to see the property. 

He ask what I thought of the change. I told him my thoughts didn't matter. I had to comply with the new rules as a Realtor. I explained the difference between a Realtor and a non Realtor licensee. He's going to try to find one of those. 

With the interest in this property, it will probably be under contract before he figures it out. 

Good job with the blog.

Great post DaCyn!  Valid points for buyers to understand that forming a trusted relationship helps get them into their home.  Kudos!

DaCyn, your post clearly articulates the value a buyer's agent brings to the home-buying process and why a Buyer Broker Agreement is essential. Explaining that it's about committed representation and protecting the buyer's interests is key. The analogy of it being a "green light" to finding their new home is a great way to frame it!