Consulting fees for buyers!!!

I have head of the practice, but I personally haven't used it.  My broker has us present the buyer with a buyer's agreement  for the buyer to sign. This is normally done at the first appointment and no later than the second.  The main reason for this is to get a commitment up front.  If the buyer refuses to sign said agreement, then our practice is not to waste any more time on an uncommitted buyer.

It would be hard to do for the simple fact that a time wasting client knows they are exactly that, they would not agree to pay and will simply move on to the next agent that is hungry hoping for a transaction. You are better off dumping and saying "NEXT"

Get a buyer's agency agreeement signed and then talk to your broker on how to go about collecting a retainer fee :)

Thanks for this very helpful info......I recently had a couple ask me to show them a house 3 times. Then they had me write up an offer. When it came time to come to the office to sign it, they came, but said they wanted to wait a while before signing. Then they asked me AGAIN to write another one!!! I did, they came and they signed it, but I ASKED them for a $50 document fee knowing that they always cancel on me. (they did this to me on a vacant lot last year too) No less than 10 minutes later they called and said dont submit our offer, we have changed our minds....I kept the $50, but now they want their money back.....what do you think....should i give it back....was I wrong in the first place???thank yoy for your comments.. Lisa

Aloha Desmond....I absolutely agree with Renee, Ethan and Roger...GET A BUYERS AGREEMENT signed RIGHT AWAY!!! I have been doing real esate for 5 yeards now and NEVER used one until i was burned by some folks who absolutely had no intentions of buying but made me work for HOURS and HOURS and cancelled AGAIN.....NOW I wont leave home or office without one ......

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