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Exclusive Buyer Agreement

By Rob Johnson

Real Estate Agent with Simms Team - Coastal Properties Group

September 21, 2006 05:33 AM

Just attended the ABR class in Miami...really enjoyed it. One of the things the instructor focused on was the Exclusive Right to Represent Buyer Agreement. In her mind, the first thing you do with any buyer is get them to sign the agreement...you don't get in her car, or get any help looking at property unless you first sign the agreement and officially become her client (side note, buyer agreements are state law in Conn. where she is from). I agree with the concept completely and would love to have everyone who comes into my office or calls about seeing a property to sign an exclusive agreement for six months, it does not seem completely practical in many cases. Someone calls out of the blue, wants to see a listing this afternoon and will meet you at the property....hard in today's buyers market to say no, you first need to stop by my office, get my introduction and sign an exclusive agreement with me, and then I'll show you the property. What are your thoughts?

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Michele Van Detti

CJR - Gilbert, AZ

I almost always use the Buyer Agreement, in AZ it's callled the Buyer Broker Agreement, or BBA. Of course, there are very few exceptions, but the number one reason I use it is for safety's sake. I bring prospective buyers into the office and show them around a little. I get their contact information. Real buyers will give it to you, but predators don't like being noticed and giving any personal information. I stick to this rule hard and fast when people call off of our print advertising, which has my picture. If they're calling off a sign and are reluctant to come into the office, I just make sure I get enough info from them that I'm comfortable meeting them, or I'll take another agent with me. If I happen to make a deal with that buyer I meet at the property, the other agent gets a small referral for the bodyguard service. It's worth it for my safety.

Sep 21, 2006 06:01 AM

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Rob Johnson

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