Comments on: Should I sign a buyer’s agent agreement?

By: Manny Mimoso

Manny Mimoso — Sat, 07 Jan 2012 02:25:00 +0000

The bottom line is that both agents (buyer’s and seller’s) both benefit from selling the home at the highest price possible. How does this prevent collusion? Because of their “code of ethics”? I just signed one before doing my homework and I already regret it its been 2 days. I received a text message late at night telling me we can’t go see any homes tomorrow because my agent is busy. I’ve been waiting for his response for a few days. A TEXT MESSAGE? really? I will never again sign a BA. I’ve been doing all the work, and he’s going to split commision for having a pin number and name tag? Come on now

By: Luxury Seattle Homes

Luxury Seattle Homes — Sat, 03 Dec 2011 00:25:00 +0000

I agree that buyers do not need to sign a contract if the agent knows what they’re doing. A contract is simply a way to lock a buyer in if he or she is unsatisifed with the work. A confident firm should give the buyer the option to walk away at any time he or she wants.

By: Sylvaniahousehunter

Sylvaniahousehunter — Mon, 07 Nov 2011 03:54:00 +0000

Clearly, you are not educated in the matters of real estate. I’m not sure who told you that we all represent the sellers but that hasn’t been the case for decades. I am an excellent agent and will not complain about the profession I’m in, I just refuse to work with any buyer who will not sign an agreement. It has been my experience that the only people not willing (only a few in my 8 years as an agent) to sign are the ones who are either not serious about purchasing a home or only interested in using me without regard to my time. These people usually “use” people without regard in all areas of their life and I’m only interested in building relationships, both professional and personal, that believe in mutual respect. Keep in mind, that a Realtor’s business is based on referrals and word of mouth. If my clients are not happy with my performance, they will not share my name with others. Good agents care about helping their clients’ reach their goals and get the best deal possible. A smart buyer realizes that this type of teamwork is always going to be in their best interests. Feel free to keep your cynical views but you are the one who will suffer, not the smart agent that refuses to take you on as a client (the only agents that I know willing to work without a buyer contract are usually the new ones that need any kind of business they can scrounge up… good luck with that).

By: Just a dude

Just a dude — Wed, 12 Oct 2011 00:06:00 +0000

I totally agree.

If realtors get in the business without seeing what the job really entails, then it’s their fault. The whole business IS a gamble. You DO have to work “for free” sometimes. But then again, how would you know who will buy and who won’t? That’s why realtors have to take it easy. You do a good job by accommodating people, and naturally some of them will come back to you, refer you to friends, and the big bucks WILL come.

Want a job with guaranteed pay? Work at Starbucks. If you’re not in the realty business with at least an ounce of generosity, then get out.

…or, start charging people gas money for driving them around. Go talk to other realtors and start a standard practice of everyone nickle and dime’ing everyone for transportation and time. See how far that will get you.

By: Just a dude

Just a dude — Wed, 12 Oct 2011 00:01:00 +0000

You work real hard because” They have there (?) own jobs”. I’m sorry, but if the competency of 2nd grade English of my realtor is really that low, then I would be worry about this realtor’s ability to work under stress when things don’t go smoothly.

Not to knock you, but come on! How come people these days can’t spell, or even understand that “there” and “their” aren’t even the same thing? They’re homonyms; they sound the same but they have totally different meanings.

You want to create a good image for yourself, don’t you? Isn’t that a part of how realtors get work? To show that they’re capable and intelligent people?

Don’t take anything I said personally. I’m just trying to make you look smarter.

By: Just a dude

Just a dude — Tue, 11 Oct 2011 23:56:00 +0000

If your job is to be a realtor, then you should EXPECT that no everyone who comes to you for a tour is going to buy for sure. Some people just want to sniff out and see what’s out there. If you’re not generous enough to show them around, then be upfront about it. A contract such as a BA just makes things more complicated when the buyer and the agent end up not matching but for one reason or another have a legal piece of a document between them. It’s unnecessary to be tied down like this. Have fun being a realtor. If you’re any good at what you do, when the buyer decides he wants to buy, he will naturally come to you for a chat. It’s as simple as that. You can’t expect to be compensated every single time.

By: Tcolley8060637

Tcolley8060637 — Mon, 08 Aug 2011 12:57:00 +0000

Educated moron! You need to get a clue! We all work for the seller? How is that true? When I negotiate a sweet deal for my Buyer well under market value even though the home was listed at market, that’s working for the seller? Sounds like you need to re-edumicate yourself Basrallbs! The reason this Buyer-Broker Agreement came into existence is because buyers were wasting agents’ time without the agent being compensated like many of my collegues here have expressed. What other profession do you know where workers don’t get paid after work has been completed? Even when a construction contacter enters into an agreement with a homeowner and doesn’t complete a job for whatever reason, many times he is compensated for whatever work he finished. He usually has a contract with the homeowner too. Hello!! Lawyers have a similar situation. If a client fires his lawyer and hires a replacement, he usually recieves a bill for whatever service was completed up until that point. In America, when most people go to work, they get a paycheck for whatever hours they put in. My point being, the Buyer-Broker Agreement is just to assure we get paid for work that was provided and not put in endless hours searching homes for a client only to have him/her not close on the deal for whatever reason. Not everyone is honorable and fair, and there are those who will do shady things for their own personal gain no matter who it hurts.. Also,the agreement does hold us accountable to the Buyer-Try reading one Mr. Educated Man! You have no clue how our industry works and its sooooo obvious!

By: Always Closing

Always Closing — Tue, 31 May 2011 20:31:00 +0000

“For” a million years sounds like a long time. Lou, I like your way of working, procedures like the one that you have been using will only filter out the buyers from the time wasters (Susan).

By: Always Closing

Always Closing — Tue, 31 May 2011 20:25:00 +0000

I avoid doing business with people that shows to have the same mentality that you have. If you’re educated, you’re not putting your knowledge to good use. It’s always fun to drive around with an agent visiting properties, the agreement is to show that you’re serious about working with the agent, they are NOT the enemies here, they represent you like the listing agent represents the seller. @ Alysan, well said, I understand where you’re coming from.

By: Nordic

Nordic — Fri, 08 Apr 2011 03:01:00 +0000

You do realize you responded to a two year old post, right? I’d say you’re the putz.

By: LouHolt

LouHolt — Thu, 07 Apr 2011 21:29:00 +0000

Yep, bad agents, bad buyers and bad sellers. Life and every business is full of them.

By: LouHolt

LouHolt — Thu, 07 Apr 2011 21:28:00 +0000

# 1. he doesn’t get paid squat if you dont buy anything unless he works for a company that pays a salary, which is very rare.
# 2. If you have any questions about your contract, call your companies broker.

By: LouHolt

LouHolt — Thu, 07 Apr 2011 21:24:00 +0000

Do you work for free or just putz away on the internet at work while drawing a salary?

By: Hawaii property finder

Hawaii property finder — Thu, 27 Jan 2011 05:58:00 +0000

I do not ask clients to sign a buyers agent agreement because they usually don’t feel that it is in their best interests . Maybe it isn’t , but having a buyers agent working for you certainly is. It is amazing how many people believe that they should contact the seller of a property they are interested in, that somehow that person will give them all the information they need and help them get the best price . I work really hard for my clients, not just a few clicks on a mouse , but many many hours finding them choices and giving them real information, ( previous sales , taxes , services, neighbor values, etc.) about place they are interested in. I spend the time they don’t have because it is my job . They have there own jobs. That being said I have had more that one client change agents or decide not to buy after I have spent all that time and it sucks! Some, the nice ones who value what I have done for them will offer to pay me , others just don’t get it. Imagine going to work one day and having your boss tell you he is hiring someone else to replace and not even paying you for the last weeks or months you have been working for him. How would you feel then ?
It is easy to see why Realtors quit or get lazy about doing there job. What is really wrong is dual agency .
If selling agents were not allowed to represent buyers and marketing to them in order to get double commission, buyers would be looking for an agent to work for them and understand the value of having one .

By: Hawaii property finder

Hawaii property finder — Thu, 27 Jan 2011 05:56:00 +0000

I do not ask clients to sign a buyers agent agreement because they usually don’t feel that it is in their best interests . Maybe it isn’t , but having a buyers agent working for you certainly is. It is amazing how many people believe that they should contact the seller of a property they are interested in, that somehow that person will give them all the information they need and help them get the best price . I work really hard for my clients, not just a few clicks on a mouse , but many many hours finding them choices and giving them real information, ( previous sales , taxes , services, neighbor values, etc.) about place they are interested in. I spend the time they don’t have because it is my job and they don’t have the time . They have there own jobs. That being said I have had more that one client change agents or decide not to buy after I have spent all that time and it sucks! Some, the nice ones who value what I have done for them will offer to pay me , others just don’t get it. Imagine going to work one day and having your boss tell you he is hiring someone else to replace and not even paying you for the last weeks or months you have been working for him. How would you feel then ?
It is easy to see why Realtors quit or get lazy about doing there job. What is really wrong is dual agency .
If selling agents were not allowed to represent buyers and marketing to them in order to get double commission, buyers would be looking for an agent to work for them and understand the value of having one .

By: Laura

Laura — Tue, 18 Jan 2011 04:28:00 +0000

We have been working with a buyer’s agent for about a month now. We have an agreement for 6 more weeks. I would like to terminate the relationship because I’ve come to realize that she doesn’t have in-depth knowledge of the neighborhoods we are looking in, doesn’t know what will be coming on the market soon, etc. She has shown us 2 houses that aren’t yet on the market. The other houses, easily 15, that we’ve looked at have been houses we have found & said we’d like to see. She is nice, timely and professional. I just don’t feel she has the knowledge we need from a realtor. I know I can end the contract with 3 days notice, but I feel bad that she has spent so much time with us & will get nothing. Anyone have recommendations on how to handle this?

By: Buying a home

Buying a home — Tue, 07 Dec 2010 05:36:00 +0000

Great Post..Thanks Fro the nice Post..Keep Sharing

By: Buyers Agents

Buyers Agents — Thu, 02 Dec 2010 01:06:00 +0000

you indeed cited the points
it is only fair for both sides to be able to terminate the contract for valid reasons of course

By: Hunghank

Hunghank — Wed, 10 Nov 2010 18:52:00 +0000

No they won’t. Unless of course they are stupid enough to sign a one sided Buyers Agreement.

By: Basrallbs

Basrallbs — Wed, 10 Nov 2010 18:49:00 +0000

Hey pal, if you don’t like the rules of the profession you are in, pick another one. You all work for the seller. Buyers agreements are nothing but one sided. Realtors side. Who come up with the idea anyway? Oh yeah – that’s right – you guys did. Hummm…. How about this – you sign an agreement that says if you sell a house that I want to someone else, then you have to pay be a commission. It’s in your best interest to do this, really. Your agreement is different huh – “Holds the agent accountable for representing the buyer” Or eles what? What if you don’t? How the hell does it do that exactly? Sorry lady – I’m “educated” too…

By: Elaine

Elaine — Fri, 24 Sep 2010 09:19:00 +0000

I don’t think Lou would want to work with someone like you anyway, Susan. You seem exactly like the type of buyer who would be disloyal and flakey because you feel you are justified. I bet you don’t tip waitstaff either, thinking, “they get an hourly wage, why should I bother?” You are totally clueless…

By: Susan

Susan — Sat, 17 Jul 2010 05:15:08 +0000

Lou,

I would never hire you for a million years. My time, my money and my health are too precious to me to deal with not professional people. Y

By: homes for sale in richmond va

homes for sale in richmond va — Mon, 03 May 2010 15:50:16 +0000

Well I think that without an agent there is a strong possibility that you could get taken for a ride by some unscrupulous builders. The builders have representation and so should you, if for nothing else than a guiding hand during the paperwork review and purchase process.

By: lalalulu999

lalalulu999 — Tue, 30 Mar 2010 07:11:08 +0000

I am a buyer and I regret signing one. I'm buying within a month and the guy is really not motivated or something. It's very strange. I'm more the kind of person that likes to get things done quickly but he seems like he could care less about my timeline. When I signed it he said they are very easy to get out of but I don't even know if that's true. Maybe easy for him, since he gets paid even if he doesn't help me, it seems.

By: nobuyersagreement

nobuyersagreement — Sun, 07 Feb 2010 00:06:32 +0000

There is NO benefit to signing an exclusive search agreement as a buyer. None. Zip. Nadda. 'I won't waste my time' as stated by Lou is simply a cop out. A 'search' involves a few clicks of a computer, and you want 4 or 5% for this? Not on my watch. You pick me up, you buy me coffee and lunch, you take me to the properties that you want me to see, you negotiate a savings on the asking price – then I'll sign an agreement. Show ME you will work FOR THE MONEY!