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Buyer's Agent - Are You Really?

By Judy Jennings

Real Estate Broker/Owner with Top Agent Plus

January 23, 2009 01:35 AM

You call yourself a Buyer's Agent, you have your "Exclusive Buyer Agency Agreement" signed and you are protected if that client purchases a property with or without you. Good job! Now, don't stop there.

A blog by Marie La Voise titled Are You Full Time or Part Time? made me realize that there is a disservice being performed by some agents working part-time in our industry.

When you take on a full-time, or part-time job that interferes with your ability to perform the duties that you have contractually agreed to provide to your client, could you be violating that contract?

Under Paragraph 3 of the (Mass Assoc. of Realtors) "Exclusive Buyer Agency Agreement" form, it clearly states:

"BROKER agrees to assist in locating properties, arrange showings, analyze financing alternatives, give advice concerning real estate practices and procedures, assist in negotiations, arrange inspections requested by BUYER and coordinate activities throughout the process."

This is just a brief synopsis of your responsibilities as not only a Realtor®, but especially as an Exclusive Buyer's Agent! Is it any wonder that consumers are apprehensive about signing these contracts?

You signed a CONTRACT, make sure you perform the duties you agreed to provide.
Now go out there and get the job done.

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Jim Mushinsky

Centsable Inspection - Framingham, MA

Hi Judy, good information. What typical duties go in that category of assist buyer in locating properties?

With so much information available on the internet today it seems pretty easy to stuck in an analysis paralysis mode. Then someone gave me the old reality slap and told me I forgot about the three most important criteria in real estate; location, location, location. So back to the internet, and instead of a spreadsheet I now have maps. Here is an example of Westborogough. The map has major routes, Commuter Rail T, Schools, Colleges, Police, Fire, Hospital, Prison, Landfills, and Areas of Concern.

Jan 23, 2009 03:08 AM

Marie LaVoise, CENTURY 21 Platinum Properties

CENTURY 21 Platinum Properties - Clarksville, TN

Hi Judy, great point I didn't even think of the language in a buyer's agreement. I was just thinking about the injustice. Yes, I agree very odd! It seems like he had his own agenda.

Jan 23, 2009 12:02 PM

Mary Douglas

United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO

REALTOR, Red Feather Lakes, Colorado

Hi Judy, Good post with good thought! Thanks, I would want my full time REALTOR (r) to work full time for me:-)

Jan 24, 2009 10:38 AM

Judy Jennings

Top Agent Plus - Middleboro, MA

Tap into Judy's real estate expertise & resources.

Mary

I would expect nothing less from my Realtor. This is what separates the professionals from the amateurs.

Judy

Jan 24, 2009 10:56 PM

Todd Clark - Retired

eXp Realty LLC - Tigard, OR

Principle Broker Oregon

I've seen just as bad service from full time agents as well. I wrote a post earlier today talking about agents having to take time off from work to arrange me presenting an offer. I have no problem with part time agents, but they better be giving full time service and the same applies to full time agents who seem to only want to work part time.

Jan 29, 2009 05:08 PM

Todd,

IMO, there is NO excuse for a FT Realtor to provide PT service. I have no problem with PT agents either, as long as they are upfront and honest with their client, and do not expect the co-broke to do their job.

Jan 30, 2009 12:12 AM

I'm actually starting at a new brokerage in the next couple months and my part time job for the company will be to train new agents and one of the questions I asked was do they hire part time agents.

The reason I asked this is because some of the best agents I've seen have been part time because they are working to be full time and go that extra mile. But, I asked if I had the right to recommend we let people go from the brokerage if I don't feel they are giving a full time service even though they are part time.

I was told YES! The reason the question came up was because of this post and one I wrote a couple weeks ago.

Thank you for your kind words this morning, I can imagine that is one Thanks Giving you want to forget.

Feb 08, 2009 11:16 PM

If the PT agent is not living up to the contract and the client files a law suit, more than likely they are going to go for the deeper pockets of the brokerage firm. This is reason enough for culling out those that are NOT dedicated and NOT performing their duties. CYA

Feb 09, 2009 02:04 AM

Dave Philipp

Lyon Real Estate - Sacramento, CA

I guess I'm just dumb, I sign a client to the buyer broker when we write an offer. I feel that if they don't want to work with me I probably don't want to be working with them either. I know agents who get it signed in the first ten min of working with a buyer... This is my full time job and I love it, if I wanted to work with people who felt as if they had to work only one way I would go back to the corp world!

May 03, 2009 05:48 AM

Elva Branson-Lee

Solid Source Realty GA - Atlanta, GA

CDPE - Atlanta Real Estate & Short Sale Agent

I'm not sure I understand the point here. Which agents do you know who work full-time for one buyer? We all must manage and coordinate our time in order to service our entire of roster of buyer and sellers.

Jul 25, 2009 08:09 AM

Hi Elva

Yes, you missed my point. I was referring to agents that only dedicate part time to their profession and have a job outside of real estate that interferes with servicing their client(s). Signing an Exclusive Buyer Agency Agreement, does not exclude the agent from working with other clients.

Jul 26, 2009 12:14 AM

Buyer's Agent - Are You Really?

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