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Rainmaker
400,356
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

I knew this was coming.

As a client, I was never willing to sign a buyer broker agreement, but wasn't going to cheat on an agent who is doing a good job for me, either.  I have a bit of a hard time insisting that a client do something I'm not willing to do.

With buyers, I can give them a little or a lot.  I do generally ask in a friendly way if they're working with other agents.  If they say they are, I wish them luck and send them on their way.  If they seem to be a fit and I think the synergy is there, I stick with them.  

Buyers can pretty much find available inventory on their own, but sellers can have a difficult time finding qualified buyers.  With sellers, I am responsible for marketing the property and bringing the buyers.  There's more investment with sellers in my view.  I wouldn't make the effort to expose the property to prospective buyers/buyer's agents without knowing I'll be compensated. 

Feb 24, 2016 01:52 AM
Rainmaker
5,104,806
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Don't forget that you don't have a listing contract legally without signed documentation. If I want to list property in NC, I must have a signed listing contract. In New York State when I worked there we had no buyer agency agreements, so you never had one. Some states don't have them. I've sold listings to people who sign-called me and whom I did not want to represent because I didn't want to be a dual agent. And at the end of the day, even if I have a buyer agency agreement in place, let's face it, if a buyer wants out I'll release them. How bad would it look for a company like RE/MAX to appear to be holding reluctant buyers "hostage."

Feb 24, 2016 02:51 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

it costs time and money to market, if one does it properly....I'm not spending money unless I get a return on it....

Feb 24, 2016 02:18 AM
Rainmaker
556,536
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

Every single person who answers this question will meet with a seller, tour their house, run comps, do a cma and spend hours working for the seller to determine a fair market value and they will do it just for the chance to get the sellers signature. 4 hours with an unsigned seller who might sign or 4 hours with a buyer who is going to buy.

What is the difference?

Feb 24, 2016 03:03 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Tony and Suzanne,

We usually had them sign a one party exclusive agreement, because I had a real buyer or a real tenant.   They were always happy to do that!  A 

Feb 24, 2016 02:33 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

BBA's are not common in my market. If they were I would always have they in place before investing time with a buyer.  Listing agreements are required and there isn't resistence from clients on those.

Feb 24, 2016 01:48 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

Because it is required by the board to list the property and pocket listings are not allowed.

As to BBA if we are taking care of the client there is really no need if everything including the BBA is explained to them.

We never had it in auto sales and my retention has always been good.

Feb 24, 2016 01:38 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Because, here in Florida the buyer broker agreement isn't worth the paper it's written on, but an exclusive right of listing agreement is a completely different story.

Feb 24, 2016 03:53 AM
Rainer
223,831
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Because we spend thousands on advertising and marketing a listing.  

Feb 24, 2016 02:52 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tony and Suzanne Marriott, Associate Brokers Good question! Fear of rejection would be my guess.

Feb 24, 2016 02:09 AM
Rainmaker
1,052,056
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

We have to have written authorization to plant signage, advertise, etc. and most listing portals make us pinky-swear that we have the owner's permission to post our offerings. But you are right! It is pretzel logic!

Feb 24, 2016 01:58 AM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Our MLS requires a written listing agreement to enter a property in the MLS. I also agree with Candice A. Donofrio

Feb 24, 2016 03:58 AM
Rainmaker
1,502,848
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I can't legally list your house without a contract.  I can legally show you homes for sale all day every day without one.


Buyers contracts are a fairly new invention (last 10 years or so) and I think came about from some pretty insecure agents.  Do a good job and you'll keep the client.  Do a piss poor job, and you'll lose the client contract or not!  I almost picked up a buyer because an agent refused to show the client the listing because it offered 2% commission instead of 2.5%.  Not only did she almost buy my listing from me, but when she decided not to go for the listing, I almost got her as a buyer because she lost all faith in her agent... contract or not.

Feb 24, 2016 03:53 AM
Ambassador
3,164,119
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

because my MLS requires a copy of the listing agreement and my state requires signatures to advertise otherwise I'd still be listing homes on a handshake too.

Feb 24, 2016 01:53 PM
Ambassador
6,392,879
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I think it is the nibble effect.

"I'll show them a couple then ask for a commitment"

Then they have an investment in time so they are afraid to offend the buyer by demanding an agreement, so they waste some more time.

Feb 24, 2016 01:07 PM
Ambassador
2,684,009
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      My Buyer Broker agreement states that if they buy a property that I showed to them within one year (of the last date we were in or on that property), they owe me the commission that was offered (to me the Broker) in the MLS at the time of the showing.

     That prevents them from seeing a property with me, then a week or a month later calling the Listing Agent and trying to go around me. 

     Yes, I do track Buyer names on the Public Records website for a year after we part ways.  I have never gone to court for a commission, but I would if the situation arose.

    Aside from that, I will let them go if they want to (or I may kick them to the curb if they don't make a decision in a reasonable time).  I am not going to "bind" someone to me - neither Buyers, nor Sellers.

 

Feb 24, 2016 12:00 PM
Rainer
4,025
Joni Holliday
Allen Tate Realtors - Raleigh, NC
Serving the Triangle area of NC

I will not work with any client without an agreement as I feel that is not the best representation for any potential buyer or seller.  To fully represent, there must be trust, mutual respect, and a goal to reach specific Real Estate needs for their best interst and at the best terms.

Feb 24, 2016 09:31 AM
Rainmaker
2,781,013
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Actually, I have a working relationship with a client where our word to each other is good enough. However, Real Estate law requires written documents

Feb 24, 2016 07:12 AM
Rainmaker
1,249,338
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

If Buyer's Agreements were enforceable, I would probably use one.  Now, I review all the information with buyers orally and let them know how I get paid and what I will do for them.  

Feb 24, 2016 06:01 AM
Rainmaker
637,434
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Because listing agreements are mandated to be in writing in both California and Hawaii where I practice real estate. Buyer Representation Agreements are optional.

Feb 24, 2016 05:45 AM
Rainmaker
864,658
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I think that agents are fearful of change. The same way, that many won't request a copy of their clients driver's license during first meeting. 

It has to work both ways. I will only work for clients that respect me as their agent.  I can sleep better at night.

Feb 24, 2016 05:23 AM
Rainmaker
763,783
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

A seller is expecting to be under contract so the work is already done in advance.  I won't put a buyer under contract because they shouldn't be forced to work with someone if they later find out they are not compatable.  It is wise to get an agreement that they will only buy a home you show them with you.  I don't do this either.

Feb 24, 2016 04:39 AM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

With a Seller their home is the known commodity you will be marketing and several dollars will be spent to accomplish that. A Buyer is much less tangible and lke a work in progress the trust must be developed over time. A piece of paper has difficulty holding divergent personalities together.

Feb 24, 2016 04:06 AM
Rainmaker
900,008
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

In CT it's illegal to work with a buyer without a Buyer Agency agreemet, but alss it is not always observed. With sellers, it's perceived as a different situation, but you ask a good question.

Feb 24, 2016 03:31 AM
Rainmaker
2,182,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This practice will eventually backfire when they buy from someone else !

Feb 28, 2016 11:27 PM